Stock Update (NASDAQ:CTIC): CTI BioPharma Corp And Baxter Announce Outcomes From Pacritinib Phase 3 In Patients With Myelofibrosis

CTI BioPharma Corp (NASDAQ:CTIC) and Baxter International’s BioScience business announced that Patient Reported Outcomes (PROs) data from the Phase 3 PERSIST-1 trial, evaluating pacritinib in patients with myelofibrosis, will be highlighted in a late-breaking oral presentation at the upcoming 20th Congress of the European Hematology Association (EHA), June 11-14, Vienna. Pacritinib is an investigational oral multikinase inhibitor with specificity for JAK2 and FLT3. These data were also selected for inclusion in the official EHA Press Briefing on Friday, June 12, 2015 at 08:30 CEST.

Myelofibrosis is associated with significantly reduced quality of life and shortened survival. As the disease progresses, the body slows production of important blood cells and within one year of diagnosis the incidence of disease-related thrombocytopenia (very low blood platelet counts), severe anemia, and red blood cell transfusion requirements increase significantly. Among other complications, most patients with myelofibrosis present with enlarged spleens (splenomegaly) as well as many other potentially devastating physical symptoms such as: abdominal discomfort, bone pain, feeling full after eating little, severe itching, night sweats, and tiredness.

Full details for the abstracts involving pacritinib in this year’s EHA program are below:

Title: Patient-Reported Outcomes (PROS) in PERSIST-1: A Randomized, Multi-Country Phase III Trial of the JAK2 Inhibitor Pacritinib (PAC) VS. Best Available Therapy (BAT) in Myelofibrosis (MF)
First Author:  Ruben Mesa, M.D., Deputy Director, Mayo Clinic Cancer Center, Chair of theDivision of Hematology & Medical Oncology, Mayo Clinic Cancer Center, Scottsdale, AZ and one of the principal investigators for PERSIST-1
Date/Time:  Sunday, June 14 at 12:15 CEST
Location:  Room A7
Presentation Type:  Oral Presentation
Abstract #:  LB2072
This abstract is under a press embargo until Friday, June 12 at 09:30 CEST.

Title: PERSIST-1: A Phase III Study of Pacritinib (PAC) vs Best Available Therapy (BAT) in Primary Myelofibrosis (PMF), Post-Polycythemia Vera MF (PPV-MF) or Post-Essential Thrombocythemia MF (PET-MF)
First Author:  Claire Harrison, M.D., Consultant Hematologist, Guy’s and St. Thomas’ NHS Foundation Trust, Guy’s Hospital, London, United Kingdom and one of the principal investigators for PERSIST-1
Date/Time:  Friday, June 12 at 17:15 to 18:45 CEST
Location:  Poster area (Hall C)
Presentation Type:  Poster
Abstract #:  LB314
The full abstract can be viewed here(Original Source)

Shares of CTI BioPharma Corp. closed yesterday at $1.97 . CTIC has a 1-year high of $3.23 and a 1-year low of $1.65. The stock’s 50-day moving average is $1.86 and its 200-day moving average is $2.13.

On the ratings front, Roth Capital analyst Debjit Chattopadhyay reiterated a Buy rating on CTIC, with a price target of $4.50, in a report issued on June 1. The current price target represents a potential upside of 128.4% from where the stock is currently trading.

According to, Chattopadhyay has a total average return of 32.2%, a 70.5% success rate, and is ranked #15 out of 3619 analysts.


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