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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 financial results for Q4 and the full year 2020, reporting an operating loss of $14.8 million for Q4, up from $9.5 million in Q4 2019, and a full-year loss of $47.8 million. The company recognized no revenues for 2020, compared to $3.3 million in 2019. The net loss for Q4 2020 was $15.0 million, or $0.20 per share. CTI is on track to submit a New Drug Application (NDA) for pacritinib by the end of March 2021, with potential FDA approval and launch planned for late 2021.
CTI BioPharma Corp. (CTIC) will announce its fourth quarter and full year 2020 financial results on March 17, 2021, after U.S. market closure. Following the results, a conference call and webcast will take place at 4:30 p.m. ET. Investors can participate via phone or access the live audio webcast through the company's website. CTI BioPharma focuses on developing therapies for blood-related cancers, particularly evaluating pacritinib for myelofibrosis and severe COVID-19.
CTI BioPharma Corp. (NASDAQ: CTIC) announced on March 8, 2021, the grant of equity awards to two new employees as inducement for their employment. The awards consist of options to purchase a total of 80,000 shares of CTIC common stock at an exercise price of $3.07 per share, equal to the stock’s closing price on the grant date. Vesting occurs annually over four years, contingent on continued employment. This action complies with Nasdaq Listing Rule 5635(c)(4) and reflects the company's commitment to attract talent.
CTI BioPharma Corp. (NASDAQ: CTIC) will present a corporate overview at the Cowen 41st Annual Health Care Conference on March 4, 2021, at 12:10 p.m. EST. This virtual event will be available for live webcast and replay on their website. The company focuses on developing targeted therapies for blood-related cancers, particularly myelofibrosis, and is also exploring treatments for COVID-19. The presentation will provide insights into CTI BioPharma's ongoing projects and strategic direction.
CTI BioPharma Corp. (NASDAQ: CTIC) announced the granting of equity awards to three new employees on February 24, 2021, outside of the Company's Amended 2017 Equity Incentive Plan. The awards include options to purchase a total of 92,000 shares at an exercise price of $3.18, the closing price on the grant date. These options will vest over four years, contingent on continued employment. This move aligns with Nasdaq Listing Rule 5635(c)(4) and highlights CTI's commitment to attracting talent as it focuses on developing novel therapies for blood-related cancers.
On February 10, 2021, CTI BioPharma Corp. (NASDAQ: CTIC) announced the granting of equity inducement awards to two new employees. This was done under Nasdaq Listing Rule 5635(c)(4) outside the company's Amended and Restated 2017 Equity Incentive Plan. The employees received options to purchase 160,000 shares of common stock at an exercise price of $3.45, equal to the stock's closing price on the grant date. The options will vest over four years and have a term of ten years.
CTI BioPharma Corp. (NASDAQ: CTIC) announced on January 28, 2021, that its Compensation Committee granted equity inducement awards to two new employees. The awards include options to purchase 200,000 shares of common stock at an exercise price of $3.30, equal to the closing price on the grant date. The options will vest over four years, contingent on continued employment. This decision aligns with Nasdaq Listing Rule 5635(c)(4) and highlights the company's commitment to attracting talent as it focuses on novel therapies for blood-related cancers and COVID-19 treatment.
CTI BioPharma Corp. (NASDAQ: CTIC) announced a corporate overview presentation at the JMP Securities Hematology Summit on Tuesday, Dec. 15, at 3:00 p.m. EST. The event will be conducted virtually and can be accessed via a live webcast from the Investors section of the company's website.
CTI BioPharma focuses on developing targeted therapies for blood-related cancers, with its lead product candidate, pacritinib, currently in late-stage development for myelofibrosis and recently developed for severe COVID-19 treatment.
CTI BioPharma Corp. (Nasdaq: CTIC) presented promising data on pacritinib's potential in preventing acute graft versus host disease (GVHD) during an oral presentation at the 62nd ASH Annual Meeting. Results from a Phase 1/2 study showed that combining pacritinib with standard immunosuppressive therapy significantly reduced acute GVHD rates without compromising transplantation outcomes. Notably, the observed incidence of grade 2-4 acute GVHD was 17% at the recommended Phase 2 dose compared to an expected 43%. The ongoing Phase 2 trial aims to further evaluate pacritinib's efficacy and safety for this indication.
CTI BioPharma Corp. (Nasdaq: CTIC) announced the publication of data from the PAC203 Phase 2 trial of pacritinib in the journal Blood Advances. The article discusses the recommended dose of pacritinib for myelofibrosis patients, revealing that the 200 mg BID dosage showed a favorable benefit-risk profile. This supports the ongoing Phase 3 PACIFICA trial and the company's commitment to pursuing regulatory approval. The trial involved patients previously treated with ruxolitinib, showing promising spleen volume response rates.
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