Cell Therapeutics, a biopharmaceutical company, develops, acquires, and commercializes oncology products for cancer treatment. Its pipeline includes Pixantrone: for non-Hodgkin’s lymphoma, Brostallicin: for the treatment of sarcoma, and OPAXIO: for the potential treatment of non-small ovarian cancer.
Recent Highlights
- Completed the submission of the pixantrone NDA to the FDA to treatrelapsed or refractory aggressive non-Hodgkin’s lymphoma (NHL). CTI requested priority review of the pixantrone NDA which, if granted, could lead to an approval decision from the FDA in the fourth quarter of 2009.
- Reduced outstanding debt by $52.9 million, representing 44.5% of outstanding debt, through exchange offers completed in June 2009, resulting in an estimated savings in future annual interest expense of approximately $3.3 million.
- Added to the Russell 3000 , Russell 2000 and Russell Global Indexes.
- Raised $43.8 million in gross proceeds in connection with financing transactions in the second quarter of 2009, and an additional $41.7 million in proceeds, net of underwriting discount, in connection with an underwritten offering of common stock and warrants in July 2009.
Why this is a hot stock
-Institutions are pooring in, new institutional holdings recently added. You can view more info at http://www.mffais.com/ctic