Cell Therapeutics prepares for EU launch of Pixuvri
USA-based biotech company Cell Therapeutics (Nasdaq and MTA: CTIC) said yesterday that it is re-aligning its resources and re-prioritizing its product development pipeline to focus on the launch of Pixuvri (pixantrone) in the European Union and accelerate the advancement of pacritinib, the company’s recently-acquired, highly-selective JAK 2 inhibitor, into Phase III clinical trials.
As a result, CTI's operating burn rate will be reduced from an average of $6.5 million per month to an average of $4.5 million per month, the company said.
Pacritinib was acquired earlier this year from Singapore’s S*BIO for an upfront $15 million and issue of $15 million shares of unregistered preferred stock (The Pharma Letter April 20). Pacritinib has orphan drug designation in the USA and Europe for myelofibrosis.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
More Features in Biotechnology
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze