CTI BioPharma Bullish Stance Reiterated At Roth Capital Following Completion Of PERSIST-1 Phase 3
In a report released Tuesday, Roth Capital analyst Debjit Chattopadhyay reiterated coverage on CTI BioPharma Corp (CTIC) with a Buy rating and a $4.00 price target, following yesterday’s news that CTIC’s PERSIST-1 phase 3 study enrollment has been completed. PERSIST-1 is one of the two pivotal phase 3 studies of pacritinib. Pacritinib is a novel oral JAK2/FLT3 inhibitor that is being evaluated for the treatment of myelofibrosis.
The analyst commented: “With a six-month follow up period we now expect data during 1H-2015. We continue to believe that pacritinib’s tolerability profile is superior to competition and will be a key commercial value driver. Pacritinib alone supports CTIC’s current valuation, according to our analysis, and we view the rest of the pipeline as a free call option”.