Dallas, Texas 11/21/2013 (Financialstrend) – In Wednesday’s trading session, Cell Therapeutics Inc (NASDAQ:CTIC) rose by 3.70%. The opening price of the shares was $1.93, which climbed to an intraday high of $1.98 and headed to close at $1.96. Around 3.55 million shares were exchanged on Wednesday while the average-volume of 3.42M shares were traded over a 30 day period. The 52-week low of Cell Therapeutics Inc (NASDAQ:CTIC) shares is $0.97 while the 52-week high is $2.17. The company has a market capitalization of $254.56 million.
About the company
Cell Therapeutics Inc (NASDAQ:CTIC) was formed on 4th September 1991. It is a bio-pharmaceutical company that focuses on acquiring, development & commercializing less-toxic methods of treating cancer. Cell Therapeutics Inc (NASDAQ:CTIC) is focusing its efforts on the treatments that effectively target blood-related cancers where unmet medical needs exist. Cell Therapeutics Inc (NASDAQ:CTIC) is mainly focused on the commercialization of PIXUVRI in the European Union. This is used to treat multiplies relapsed / refractory aggressive non-Hodgkin-lymphoma. The company is conducting a Phase-III clinical-trial of pacritinib for treating myelofibrosis. The drug PIXUVRI is a novel-aza-anthracenedione derivative and is structurally-related to anthracyclines & anthracenediones. However, it does not seem to be associated with the same-level of cardio-toxic effects.
Anthracyclines are potent classes of various anti-cancer agents that are used in 1st-line treatment of the aggressive diseases like NHL, leukemia &breast cancer. For all these diseases, anthracycline-containing-regimens can generally produce long-term cancer-remissions and cures. This toxicity many a times prevents the repeat use of anthracyclines in those patients who relapse post 1st-line anthracycline treatment. In addition to this, the cardiac-toxicity of anthracyclines also prevents their use as a mix with numerous other drugs that might also cause cardiac-toxicity. PIXUVRI is also being developed to improve the activity & safety in treating those cancers that usually initially treated with anthracycline family of the anti-cancer agents.