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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 that the FDA has extended the review period for its NDA for pacritinib, intended for treating myelofibrosis with severe thrombocytopenia. The new action date is now February 28, 2022, postponed by three months due to the FDA's request for additional clinical data submitted on November 24, 2021. The company remains confident in pacritinib's potential. Clinical trials demonstrated promising results, with significant reductions in spleen volume and symptom scores among treated patients.
CTI BioPharma Corp. (NASDAQ: CTIC) announced that its Compensation Committee granted equity inducement awards to nine new employees on November 26, 2021. These awards, totaling 162,000 options to purchase common stock, are part of the company's strategy to attract talent. The options will be issued at the closing price on the Grant Date and will vest over four years. CTI BioPharma focuses on developing targeted therapies for blood-related cancers, particularly its candidate pacritinib, which is currently in late-stage development.
CTI BioPharma Corp. (NASDAQ: CTIC) announced on November 9, 2021 that its Board of Directors granted equity inducement awards to two new employees. The awards, totaling 12,000 shares of common stock, are outside the Amended and Restated 2017 Equity Incentive Plan but comply with its terms. The stock options will vest annually over four years, subject to continued employment, with a ten-year term. This move aligns with Nasdaq Listing Rule 5635(c)(4) and highlights the company's focus on attracting talent critical to its operations in developing therapies for blood-related cancers.
CTI BioPharma Corp. (Nasdaq: CTIC) announced five poster presentations for its pacritinib program at the 63rd American Society of Hematology Annual Meeting & Exposition, taking place from December 11-14, 2021, in Atlanta, Georgia. The abstracts include a head-to-head comparison of pacritinib and ruxolitinib, safety analysis, long-term treatment outcomes, symptom impact from the Persist-2 study, and evidence of NF-κB pathway activation in advanced myelofibrosis. These findings may contribute significantly to the understanding and treatment of blood-related cancers.
CTI BioPharma Corp. (NASDAQ: CTIC) announced on October 14, 2021, that its Compensation Committee granted an equity inducement award to a new employee, compliant with Nasdaq Listing Rule 5635(c)(4). The award consists of options to purchase 18,000 shares of common stock, with an exercise price equal to the closing price on the Grant Date. The options will vest over four years, contingent upon the employee’s continued employment. CTI focuses on developing targeted therapies for blood-related cancers, particularly myelofibrosis and severe COVID-19.
CTI BioPharma Corp. announced topline results from the PRE-VENT trial evaluating pacritinib in hospitalized patients with severe COVID-19. Despite the study's well-tolerated profile, no significant improvement in the primary endpoint of progression to invasive mechanical ventilation or death (26.3% vs. 24.8%, P=0.98) was found. As a result, the company will not pursue further development of pacritinib for this indication. CTI BioPharma will instead focus on pacritinib's launch for myelofibrosis, with a PDUFA date of November 30, 2021.
CTI BioPharma Corp. (NASDAQ: CTIC) announced on September 28, 2021, that its Compensation Committee granted equity inducement awards to fourteen new employees. These awards include options to purchase a total of 314,000 shares of common stock, with the exercise price aligned with the closing price on each respective grant date. Vesting occurs annually over four years, contingent on continued employment. The awards comply with Nasdaq Listing Rule 5635(c)(4) and are intended to facilitate talent acquisition for the biopharmaceutical company's development of targeted therapies for blood-related cancers.
CTI BioPharma Corp. (NASDAQ: CTIC) announced on September 17, 2021, that it granted equity inducement awards to 25 new employees, essential for their employment acceptance. The total equity awards include options to purchase 450,000 shares of common stock. These options will have an exercise price equal to the stock's closing price on the respective Grant Dates and will vest over four years, contingent on continued employment. The company focuses on developing therapies for blood-related cancers, particularly myelofibrosis, and is exploring treatments for COVID-19 complications.
CTI BioPharma Corp. (NASDAQ: CTIC) announced equity inducement awards for 17 new employees, totaling options for 306,000 shares. This was done in accordance with Nasdaq Listing Rule 5635(c)(4) on September 8, 2021. The options will have an exercise price corresponding to the stock's closing price on each employee's Grant Date and will vest over four years. CTI BioPharma focuses on developing targeted therapies for blood-related cancers, particularly myelofibrosis, and is also developing its candidate pacritinib for severe COVID-19 patients.
CTI BioPharma Corp. (Nasdaq: CTIC) has announced a funding agreement with DRI Healthcare Trust worth up to $135 million. This includes $50 million in secured debt and $60 million for a tiered royalty on pacritinib sales pending FDA approval. The funds will support the commercialization of pacritinib for myelofibrosis patients with severe thrombocytopenia. The drug has a priority NDA review, with an action date of November 30, 2021.
This strategic partnership aims to fulfill a significant unmet medical need and potentially set CTI on a path to profitability.
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