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CTI BioPharma Corp. (CTIC) is a commercial biopharmaceutical company headquartered in Seattle, USA. Established with a mission to develop and market innovative, low-toxicity therapies for cancer treatment, CTI BioPharma stands out for its dedication to both scientific advancement and patient care. The company's collaborative culture and novel approach to business set it apart in the biopharmaceutical industry.
CTI's flagship product, VONJO® (pacritinib), is a targeted therapy approved by the FDA. It acts as a JAK2, ACVR1, and IRAK1 inhibitor, but notably spares JAK1, making it a unique treatment option in the field of blood-related cancers. This product highlights the company's commitment to developing effective treatments with fewer side effects.
In 2022, CTI BioPharma reported revenues of USD 53.9 million, underscoring its growing influence in the biopharmaceutical market. The company employs approximately 144 people, all dedicated to pushing the limits of cancer therapy.
CTI BioPharma has recently been acquired by Swedish Orphan Biovitrum AB (Sobi), a renowned biopharmaceutical company specializing in rare and debilitating diseases. The acquisition was completed on June 26, 2023, with Sobi purchasing all outstanding shares of CTI at USD 9.10 per share. This strategic move is expected to enhance Sobi's portfolio and market presence, while CTI BioPharma will benefit from Sobi's extensive resources and expertise.
The merger signifies a new chapter for CTI BioPharma, as it becomes an indirect wholly owned subsidiary of Sobi. This alliance aims to bolster the development of groundbreaking therapies, ensuring better outcomes for patients worldwide.
For more information, visit CTI BioPharma's official website.
CTI BioPharma Corp. (Nasdaq: CTIC) announced its participation in two key investor conferences in April 2023, aimed at discussing its novel targeted therapies for blood-related cancers. The company will engage in a fireside chat at the 22nd Annual Needham Virtual Healthcare Conference on April 18, 2023, at 3:45 p.m. ET, and will present at the Stifel 2023 Targeted Oncology Days on April 26, 2023, at 1:00 p.m. ET. Live and archived webcasts can be accessed through the CTI BioPharma website. CTI BioPharma is also noted for its FDA-approved product, VONJO® (pacritinib), which targets myelofibrosis patients with low platelet counts.
CTI BioPharma Corp. (Nasdaq: CTIC) announced on April 10, 2023, that its Compensation Committee granted equity inducement awards to two new employees. This was done under Nasdaq Listing Rule 5635(c)(4) and outside of the company's Amended and Restated 2017 Equity Incentive Plan.
The awards totaled options for 36,000 shares of CTIC common stock, with an exercise price equal to the closing price on each grant date. The options will vest over four years, contingent on continued employment, and are valid for a ten-year term.
CTI BioPharma focuses on targeted therapies for blood-related cancers and has one FDA-approved product, VONJO (pacritinib), aimed at treating patients with specific myelofibrosis conditions.
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