Cell Therapeutics Announces Corporate Update For 2014 - Quick Facts

(RTTNews) - Cell Therapeutics Inc. (CTIC) announced a corporate update for 2014. The company said it will provide 2014 financial guidance in its fourth quarter and year-end 2013 results announcement. The comapny now anticipates that the up-front payment and anticipated near-term milestones related to the Baxter collaboration will potentially allow it to reach regulatory submissions for pacritinib without requiring additional equity financing to fund such activities.

Cell Therapeutics plans to initiate Pacritinib second Phase 3 trial. The company expects to initiate PERSIST-2 for patients with myelofibrosis who have low platelet counts in early 2014. The company anticipates reporting topline results for PERSIST-1 in the second half of 2014. CTI expects the Opaxio GOG-0212 Phase 3 maintenance therapy trial for patients with ovarian cancer to complete enrollment in the first quarter 2014.

CTI intends to focus on PIXUVRI for multiply relapsed or refractory aggressive relapsed B-cell NHL and manage expenses to drive to future profitability. The company also intends to pursue a partner for commercializing PIXUVRI outside of Western Europe.