Cell Therapeutics’s Turnaround Remains On Track
LOS ANGELES - 05/08/09 - BiomedReports, the news portal covering the biomedical news and financial sector is profiling Cell Therapeutics (NASDAQ:CTIC) in a special report today.
The dramatic turnaround from lows of a nickel per share ealier this year at cancer biotech Cell Therapeutics (NASDAQ:CTIC) remains on track as the Company announced its 1Q09 results today, which included a 76% reduction of net loss and expected completion of the pixantrone NDA filing this June. Earlier this week, CTIC announced that pixantrone was made available through a compassionate use program in Europe on a named-patient basis for use in the treatment of aggressive non-Hodgkin’s lymphoma (NHL) that has either relapsed or is refractory to standard treatment options.
CTIC achivied its objective thus far during 1H09, including the initiation of the rolling NDA submission for pixantrone, reducing net loss through cost cutting initiatives, raising gross proceeds of $44.3M, and cleaning up the Company’s capital structure through the elimination of all previously issued preferred stock. CTIC is on target to complete the pixantrone NDA filing by June and if the FDA grants a priority revew, the Company could receive an approval decision before year-end in December.
A full special report by Mike Havrilla appears today at:
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