CTI shares plunge after drug trial deaths

11 February 2016

Trials on an experimental blood cancer drug have been put on immediate hold in the US after it was linked to the deaths of patients being treated with it.

CTI BioPharma (Nasdaq: CTIC) withdrew its New Drug Application (NDA) for pacritinib after the Food and Drug Administration (FDA) placed it on full clinical hold.

Shares in the company have fallen more than 70% to $0.30 since the start of the week when the FDA announced a partial block, citing a “detrimental effect on survival.” The move comes after patients using the drug died from cardiac arrest and internal bleeding in the skull.

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