Dallas, Texas 09/09/2013 (Financialstrend) – In Friday’s trading session, Cell Therapeutics Inc (NASDAQ:CTIC) stock dipped by 1.91%. The shares opened at a price of $1.10, rose to an intraday high of $1.11 and closed at $1.09. More than 0.33 million shares were traded on Friday and the average volume of shares traded over 30 days was 0.732 million. CTIC has a market cap of $125.1 million.
Cell Therapeutics Inc (NASDAQ:CTIC) is a bio-pharmaceutical company. It focuses on acquiring, developing and commercializing less toxic methods of treating cancer. It is focusing on treatments that will target blood related cancers where there is a large amount of unmet medical need. Cell Therapeutics primarily focuses on the commercialization of PIXUVRI in the EU for refractory or multiple relapses of aggressive non Hodgkin lymphoma. It is also conducting a Phase 3 trial of pacritinib. This is used to treat myleofibrosis. PIXUVRI is a unique aza-anthracenedione derivative. It is structurally-related to anthracenediones and anthracyclines. However, it does not seem to be associated with similar levels of cardiotoxic effects.
The primary drug
Pacritinib is a once daily, oral tyrosine kinase-inhibitor. It has dual-activity against FMS-like tyrosine kinase and JAK2. The mutations in these 2 kinases have shown to be directly-related to a variety of blood cancers such as leukemia, myeloproliferative neoplasms and lymphoma. PERSIST-1 is a randomized, multi-center controlled Phase 3 trial that compares the safety and efficacy of pacritinib. This is tested in patients who are suffering from post-polycythemia, myelofibrosis, post-essential thrombocythemia myelofibrosis or vera myelofibrosis. The therapy that is available included physician elected treatment apart from JAK inhibitors.
The primary endpoint is the % of patients who have achieved 35% or more reduction in their spleen volume. This will be based on measurements that have been taken by CT or MRI at 24-weeks of treatment. This trail is expected to enroll patients at various clinical sites in the U.S, Australia and Europe.