Stock Alert: CTI BioPharma Hits New 52-week High

(RTTNews) - Shares of CTI BioPharma Corp. (CTIC) are skyrocketing more than 100 percent or $1.05 in Wednesday's morning trade at $2.10, after touching a new 52-week high of $2.58.

Tuesday, CTI BioPharma said it will proceed with the rolling New Drug Application or NDA submission for the potential accelerated approval of Pacritinib as a treatment for myelofibrosis patients with severe thrombocytopenia.

The company noted that the rolling NDA submission is expected to commence within a few weeks, with completion anticipated in the first quarter of 2021. The NDA will be based on the available data from the Company's completed Phase 3 PERSIST-1 and PERSIST-2 trials and the Phase 2 PAC203 dose-ranging trial.

Pacritinib is also being tested in a phase III trial in hospitalized patients with severe COVID-19.

CTI BioPharma has traded in a range of $0.62 to $2.58 in the past 52 weeks.