Cell Therapeutics Inc (NASDAQ:CTIC) is essentially a high risk reward stock as the company’s productcandidate Pixuvri may get an opinion from the European Medicines Agency(European version of the FDA) Committee for Medicinal Products for Human Use inmid-February.
Biotech stocks such as Adeona Pharmaceuticals (NYSE:AEN), Bionovo Inc (NASDAQ: BNVI),and Cell Therapeutics Inc (NASDAQ:CTIC) are surging on the back of positive developments.
Suffice it to say, we think this company’s shareholders deserve the ultimate endurance award.
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Cell Therapeutics is a biopharmaceutical company committed todeveloping an integrated portfolio of oncology products aimed atmaking cancer more treatable.
Let’s take a look at some of the things that could make you want to buy, sell, or possibly hold Cell Therapeutics this year, and at the end we’ll weigh in with our take.
Cell Therapeutics says that pixantrone is for the treatment ofrelapsed or refractory aggressive non-Hodgkin’s lymphoma (NHL) inpatients who failed two or more lines of prior therapy.
The US Food and Drug Administration recently allowed an investigational drug application from Colorado-based Clovis Oncology.
Cell Therapeutics failed to meet its own clinical trial guidelines with the drug, but won approval to resubmit its study without running a new or additional study.
Although it’s difficult to assume that the FDA will vote any differently this time around, the sheer possibility that the results could be different this time around has shareholders and Cell Therapeutics management jazzed.
Shares of Cell Therapeutics (NYSE: CTIC) continued to rise after announcing that the Eurpean Medicines Agency’s Committee for Medicinal Products for Human Use may issue an opinion of the company’s Marketing Authorization Application for Pixuvri in mid-February.
Having lost 99.98% of its value over the past decade, any sort of good news would propel the stock higher.
SellAs a noted bear on Cell Therapeutics, we would normally point out here how the company has no marketable drugs and an accumulated deficit of $1.7 billion since inception.
We’d also usually point out that the company is notorious for diluting shareholder value by completing secondary share offerings with some regularity.
Even if pixantrone pulls a rabbit out of its hat and gets by the FDA, it’s going to be met by a slew of competitors including Rituxan, which is co-owned by Biogen Idec.
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