- CTI BioPharma (NASDAQ:CTIC +17.5%) jumps in early trading in response to its announcement at ASCO (abstract #LBA7006) that patients with myelofibrosis treated with its lead product candidate, pacritinib, in a Phase 3 trial called PERSIST-1 met the primary efficacy endpoint of a statistically significant reduction in spleen volume compared to baseline at week 24. The results were originally reported in March.
- Fast Track-designated pacritinib, an oral tyrosine kinase inhibitor, is being co-developed with Baxter International (BAX -0.2%). Tyrosine kinase is an enzyme that serves as an "on/off" switch in many cellular functions. If stuck in the "on" position, unregulated cell growth occurs.
- Previously: CTI Bio up 19% premarket on Phase 3 results (March 9)