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Cell Therapeutics Q4 revenue soars due to Baxter license payment

Mar. 04, 2014 4:49 PM ETCTI BioPharma Corp. (CTIC) StockBy: Douglas W. House, SA News Editor1 Comment
  • Cell Therapeutics (NASDAQ:CTIC) Q4 revenue balloons to $32.9M versus $0 a year ago. Almost all of the revenue is due to Baxter's (BAX) upfront payment of $32.4M for the license to develop and commercialize pacritinib.
  • Product revenues for Q4 and FY13 were $.5M and $2.3M, respectively.
  • Net income for the quarter was $10.2M ($.08/share) due to the Baxter payment. Net loss for the year was $49.6M ($.43/share).
  • FY14 guidance projects a loss from operations of $45M - $50M.
  • Consensus estimate for Q1 is a loss of $.23/share on revenues of $1.3M.
  • Consensus estimate for 2014 is a loss of $.48/share on revenues of $23.9M.
  • Mutual fund ownership has increased from 30 to 85 the past 4 quarters.

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