MARKET COMPOSITE
CTIC - CTI BioPharma Corp
Price
$0.00
+ 0.00 (0.00%)
CTI BioPharma Corp., a biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel targeted therapies for blood-related cancers in the United States. It develops pacritinib, an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1, and CSF1R, which is in Phase III clinical trials for the treatment of adult patients with myelofibrosis. It has license and collaboration agreement with Teva Pharmaceutical Industries Ltd.; S*BIO Pte Ltd.; and Vernalis (R&D) Limited. The company was formerly known as Cell Therapeutics, Inc. and changed its name to CTI BioPharma Corp. in May 2014. CTI BioPharma Corp. was founded in 1991 and is headquartered in Seattle, Washington.
Financials
Quarterly financials
(USD)Mar 2023Q/Q
Revenue24.1MM+14%
Gross Profit22.9MM-
Cost Of Revenue1.2MM+5%
Operating Income-9.2MM-32%
Operating Expenses32.1MM-
Net Income-13.4MM-23%
R&D10.2MM-14%
G&A21.9MM-8%
Interest Expense4.2MM+12%
Stock Chart
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Stock news
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    Swedish Orphan Biovitrum AB (publ) (Sobi®) (STO: SOBI) announced today that it has, through its indirect wholly owned subsidiary Cleopatra Acquisition Corp. (Cleopatra), successfully completed its tender offer to purchase all outstanding shares of common stock of CTI BioPharma Corp. (NASDAQ: CTIC) (CTI), at a price of USD 9.10 per share in cash, net to the seller thereof in cash, without interest and subject to any applicable withholding taxes.

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    CTI BioPharma Corp. (Nasdaq: CTIC) ("CTI"), a commercial biopharmaceutical company focused on the development and commercialization of novel targeted therapies for blood-related cancers, today announced that it has cancelled the 2023 Annual Meeting of Stockholders (the "Annual Meeting") which was scheduled for June 21, 2023, and has withdrawn the proposals to have been submitted to stockholders at the Annual Meeting.

    What happened Shares of CTI BioPharma (NASDAQ: CTIC) were up more than 80% early Wednesday after the company announced it was getting bought out for $1.7 billion by Swedish Orphan Biovitrum AB (OTC: BIOVF), also known as SOBI.

    Swedish Orphan Biovitrum AB (OTC: BIOVF) has agreed to acquire CTI BioPharma (NASDAQ: CTIC) for $9.10 per share of common stock in an all-cash transaction, representing an implied equity value of approximately $1.7 billion. The transaction price represents an 89% premium to CTI's closing share price on May 9, 2023, and a 95% premium to its 30-trading day volume-weighted average price of $4.67. The transaction will diversify Sobi's portfolio of hematology medicines through CTI's lead product, Von

    Swedish Orphan Biovitrum will buy CTI for $9.10 a share as it looks to expand its rare hematology portfolio.

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