CTI BioPharma Announces 2017 Key Objectives - Quick Facts

(RTTNews) - CTI BioPharma Corp. (CTIC) announced the company continues to have dialogue with the European Medicines Authority (EMA) on the Marketing Authorization Application for pacritinib that had been previously filed by its former partner, Baxalta. The company is evaluating whether to update the current application with the additional data from PERSIST-2 or to resubmit the MAA. CTI BioPharma also intends to discuss with the FDA the future development of pacritinib. The company said it intends to secure a partnership for the development and commercialization of pacritinib in certain territories outside the U.S.

CTI BioPharma announced the PIX306 confirmatory trial of commercial product PIXUVRI (pixantrone) continues to progress toward an announcement of top-line results later in the current year.

CTI BioPharma said it has made significant effort at reducing expenses and believe the company is well positioned moving into 2017. In January 2017, the company received a 7.5 million euros milestone payment from Servier. The company expects to meet its cash requirements for 2017 with existing cash and by partnering one or more product assets during the course of the year.