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CTIC - CTIC STOCK NEWS

Welcome to our dedicated page for CTIC news (Ticker: CTIC), a resource for investors and traders seeking the latest updates and insights on CTIC stock.

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.

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CTI BioPharma Corp. (NASDAQ: CTIC) announced equity inducement awards granted to six new employees on May 26, 2021. These awards are crucial for the employees' acceptance of their roles and include options to purchase a total of 240,000 shares of common stock. The options will have an exercise price aligned with the stock's closing price on the Grant Date and will vest over four years. This move is compliant with Nasdaq Listing Rule 5635(c)(4) and aims to attract talent while enhancing company performance.

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CTI BioPharma Corp. (NASDAQ: CTIC) announced equity inducement awards for two new employees, totaling 90,000 options to purchase shares. Approved on May 12, 2021, these awards comply with Nasdaq Listing Rule 5635(c)(4). The options will be granted at the employees' respective Grant Dates, with an exercise price equal to the closing stock price of CTIC on that date. Vesting occurs annually, with a total term of ten years. CTI focuses on developing targeted therapies for blood-related cancers, notably pacritinib, currently evaluated for myelofibrosis and severe COVID-19 treatment.

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CTI BioPharma Corp. (NASDAQ: CTIC) will announce its first quarter 2021 financial results on June 1, 2021, after U.S. market close. A conference call is scheduled for 4:30 p.m. ET to discuss the results and provide a corporate update. Interested participants can join the call by dialing (877) 735-2860 domestically or (602) 563-8791 internationally, using conference ID 9343326. Additionally, a live audio webcast will be available on CTI's website, with a replay accessible for 30 days. CTI focuses on developing targeted therapies for blood-related cancers, primarily evaluating pacritinib.

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CTI BioPharma Corp. (NASDAQ: CTIC) announced that its Board of Directors has granted equity inducement awards to two new employees, totaling 80,000 options to purchase common stock. These awards were approved on April 21, 2021, in compliance with Nasdaq Listing Rule 5635(c)(4). The options will have an exercise price equal to the stock's closing price on each Grant Date and will vest over four years, contingent on continued employment. CTI BioPharma is focused on developing therapies for blood-related cancers, particularly myelofibrosis and severe COVID-19.

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CTI BioPharma Corp. (NASDAQ: CTIC) will present a corporate overview at the 20th Annual Needham Virtual Healthcare Conference on April 14, 2021, at 3:00 p.m. EST. The event will be conducted virtually and the presentation will be available for live webcast and replay on the company's website. CTI BioPharma focuses on developing targeted therapies for blood-related cancers, with a key focus on pacritinib, their candidate in late-stage development for myelofibrosis and severe COVID-19. The company is headquartered in Seattle, Washington.

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CTI BioPharma Corp. (NASDAQ: CTIC) announced the granting of equity inducement awards to three new employees, totaling options to purchase 107,500 shares of common stock. Approved by the Compensation Committee on April 1, 2021, these awards are in accordance with Nasdaq Listing Rule 5635(c)(4). Each equity award will have an exercise price equal to the stock's closing price on the Grant Date and will vest over four years. CTI BioPharma focuses on developing targeted therapies for blood-related cancers, particularly myelofibrosis and severe COVID-19.

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SEATTLE, March 31, 2021 /PRNewswire/ -- CTI BioPharma Corp. (CTIC) announced the pricing of its public offering of 14,260,800 common shares at $2.50 each, along with 600 shares of Series X1 Preferred Stock priced at $25,000 each. The underwriters have a 30-day option for an additional 2,139,120 shares. Gross proceeds are estimated at $50.7 million, intended for commercialization of pacritinib, working capital, and corporate needs. The offering is set to close on April 6, 2021, pending customary conditions.

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CTI BioPharma Corp. (Nasdaq: CTIC) announced a proposed underwritten public offering of common stock and Series X1 preferred stock. All offered securities will be sold by CTI, with the exact size and terms dependent on market conditions. The proceeds are designated for commercialization activities related to pacritinib, general working capital, and corporate purposes. Stifel and JMP Securities are joint book-running managers for the offering. The offering is subject to SEC regulations, and there is no guarantee of completion.

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CTI BioPharma Corp. (Nasdaq: CTIC) has completed a rolling New Drug Application (NDA) submission to the FDA for pacritinib, targeting myelofibrosis patients with severe thrombocytopenia. The submission is based on data from Phase 3 trials PERSIST-1 and PERSIST-2, as well as Phase 2 trial PAC203. With plans for a commercial launch by the end of 2021, CTI is also executing pre-commercialization activities and has formed a leadership team. The urgent need for effective treatment options for this patient group highlights the significance of this initiative.

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CTI BioPharma Corp. (Nasdaq: CTIC) announced positive findings from a Phase 1 trial published in Clinical Cancer Research, showcasing the safety and preliminary efficacy of pacritinib, a JAK2 inhibitor. The study evaluated pacritinib combined with sirolimus and low-dose tacrolimus for preventing acute graft-versus-host disease (GVHD) post-allogeneic hematopoietic cell transplantation. Key results indicate a favorable safety profile, with only one participant experiencing Grade 2-4 acute GVHD. The ongoing Phase 2 trial aims to further assess pacritinib's therapeutic effects for GVHD prevention.

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FAQ

What is the market cap of CTIC (CTIC)?

The market cap of CTIC (CTIC) is approximately 1.2B.

What is CTI BioPharma's core business?

CTI BioPharma specializes in developing and commercializing targeted therapies for blood-related cancers.

What is CTI BioPharma's flagship product?

CTI BioPharma's flagship product is VONJO® (pacritinib), a JAK2, ACVR1, and IRAK1 inhibitor that spares JAK1.

Who acquired CTI BioPharma?

Swedish Orphan Biovitrum AB (Sobi) acquired CTI BioPharma in June 2023.

How many employees does CTI BioPharma have?

CTI BioPharma employs approximately 144 people.

What were CTI BioPharma's revenues in 2022?

CTI BioPharma reported revenues of USD 53.9 million in 2022.

What is Sobi's role in the biopharmaceutical industry?

Sobi specializes in providing innovative medicines for rare and debilitating diseases, focusing on haematology, immunology, and specialty care.

Will CTI BioPharma's stock continue to be traded on NASDAQ?

No, following the acquisition by Sobi, CTI BioPharma's common stock will cease to be traded on the NASDAQ Stock Market.

What differentiates VONJO® (pacritinib) from other cancer therapies?

VONJO® (pacritinib) is unique because it inhibits JAK2, ACVR1, and IRAK1 while sparing JAK1, reducing toxicity and enhancing efficacy.

What will be the impact of the Sobi-CTI merger?

The merger aims to combine resources and expertise to advance the development of innovative cancer therapies, benefiting patients globally.

Where is CTI BioPharma located?

CTI BioPharma is headquartered in Seattle, USA.

CTIC

Nasdaq:CTIC

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1.20B
123.11M
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