Source: Seeking Alpha
Summary
- Today, we take our first in depth look at CTI BioPharma, that looks like it might finally garner its first FDA approval.
- The company is aiming its primary drug candidate as a lucrative niche of the myelofibrosis market.
- An analysis on CTI BioPharma is presented in the paragraphs below.
Today, we take our first in-depth look at a small developmental company called CTI BioPharma (CTIC). We have received occasional inquiries on this name over the years, but I believe this is our first analysis on it. Given the company might finally be close to garnering its first FDA approval, it seems an appropriate time to dig under the covers. An analysis follows below.
Company Overview
CTI BioPharma is a small ‘Tier 4‘ biotech concern out of Seattle. The company is focused on developing novel targeted therapies for blood-related cancers. The company was once known as Cell Therapeutics but changed its name in 2014 over 15 years after going public. The stock trades just above $3.00 a share currently and sports an approximate market capitalization of $240 million.
The main asset of the company is a compound called pacritinib. The company provides this description of this drug candidate on its website.
Pacritinib is an investigational oral kinase inhibitor with specificity for JAK2 and IRAK1 developed for the treatment of patients with myeloproliferative diseases including myelofibrosis. Unlike other JAK2 inhibitors pacritinib does not inhibit JAK1. Inhibition of JAK1 has been associated with immune dysfunction, lymphomas and may also worsen thrombocytopenia and anemia.”