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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) presented new findings from its pacritinib program at the 64th ASH Annual Meeting held in New Orleans from December 10-13, 2022. The data from the Phase 3 PERSIST-2 trial highlight pacritinib's potential as an effective treatment for anemia in myelofibrosis patients, showing significant transfusion independence. Pacritinib, a novel JAK2/IRAK1 inhibitor, has been approved by the FDA for patients with severe thrombocytopenia. The presentations included both an oral presentation and two posters detailing the impact of anemia and thrombocytopenia on patient symptoms.
CTI BioPharma Corp. (NASDAQ: CTIC) will participate in a fireside chat at the JMP Securities Hematology and Oncology Summit on December 6, 2022, at 3:00 p.m. ET. This event will be held virtually and can be accessed via webcast on CTI BioPharma's website. The company focuses on developing targeted therapies for blood-related cancers, including its FDA-approved product, VONJO®, for myelofibrosis treatment. Continued approval for VONJO is contingent upon outcomes from confirmatory trials.
CTI BioPharma Corp. (NASDAQ: CTIC) announced its management will present at two upcoming investor conferences in November 2022. The Stifel Healthcare Conference is scheduled for November 15, 2022, at 1:15 p.m. ET, while the Jefferies London Healthcare Conference will take place on November 17, 2022, at 10:50 a.m. ET and 3:50 p.m. GMT. Both presentations will be webcast live and available for replay on CTI BioPharma's website.
CTI focuses on developing targeted therapies for blood-related cancers, including its FDA-approved product, VONJO®, for treating myelofibrosis.
CTI BioPharma (CTIC) reported a net product revenue of $18.2 million for Q3 2022, marking a 48% increase from Q2, driven by strong new patient starts of VONJO® (pacritinib). Management highlighted the growing acceptance of VONJO as a treatment for cytopenic myelofibrosis. Despite an operating loss of $12.2 million, the net loss narrowed to $15.7 million compared to $24.2 million in Q3 2021. As of September 30, 2022, cash and equivalents totaled $81.6 million. Upcoming presentations at ASH 2022 are expected to showcase new data on pacritinib's efficacy.
CTI BioPharma Corp. (Nasdaq: CTIC) announced oral and poster presentations showcasing its pacritinib program at the 64th American Society of Hematology (ASH) Annual Meeting set for December 10-13, 2022. The oral presentation highlights pacritinib's efficacy as a potent ACVR1 inhibitor benefiting anemia in myelofibrosis patients. Key presentations include two posters on the impact of thrombocytopenia and anemia in myelofibrosis and results from the phase 3 PACIFICA study comparing pacritinib against physician's choice.
CTI BioPharma Corp. (NASDAQ: CTIC) will release its third quarter 2022 financial results on November 7, 2022, after U.S. market close. A conference call will follow at 4:30 p.m. ET to discuss the results and provide a corporate update. The company focuses on targeted therapies for blood-related cancers and has one FDA-approved product, VONJO (pacritinib), for treating certain types of myelofibrosis. Continued FDA approval may depend on further clinical validation.
CTI BioPharma Corp. (NASDAQ: CTIC) disclosed on October 17, 2022, that its Compensation Committee granted equity inducement awards totaling 25,500 stock options to two new employees. These grants were made outside the company's Amended and Restated 2017 Equity Incentive Plan, per Nasdaq Listing Rule 5635(c)(4). Each option’s exercise price corresponds to the stock’s closing price on the respective Grant Date, with a vesting schedule of one-fourth annually, contingent on continued employment. The options carry a ten-year term.
CTI BioPharma Corp. (NASDAQ: CTIC) has granted equity inducement awards to two new employees, totaling options to purchase 140,000 shares of common stock. Approved on September 20-21, 2022, these awards are crucial for the employees' acceptance of their roles and comply with Nasdaq Listing Rule 5635(c)(4). The options will have an exercise price equal to the stock's closing price on the grant date, vesting annually, contingent on continued employment. CTI is focused on developing therapies for blood-related cancers, with FDA-approved VONJO® for certain myelofibrosis patients.
CTI BioPharma Corp. (NASDAQ: CTIC) announced two poster presentations regarding pacritinib at the SOHO Tenth Annual Meeting from September 28 to October 1, 2022. A new analysis from the Phase 3 PERSIST-2 trial demonstrated that pacritinib improved transfusion independence and anemia compared to best available therapy, particularly benefiting high-risk myelofibrosis patients. Notably, pacritinib was found to be a potent inhibitor of ACVR1, enhancing its potential in treating anemia and related symptoms. The company plans further data presentation later this year.
CTI BioPharma Corp. (NASDAQ: CTIC) announced on August 22, 2022, the granting of equity inducement awards to two new employees. This was done in compliance with Nasdaq Listing Rule 5635(c)(4). The employees received options to purchase a total of 40,000 shares of CTIC common stock, with an exercise price set at the closing price on their respective grant dates. Vesting occurs annually over four years, contingent on continued employment. CTI BioPharma is focused on targeted therapies for blood-related cancers and has one FDA-approved product, VONJO®.
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