Cell Therapeutics (CTIC +15.2%) jumps after announcing the licensing terms under which Novartis...

|About: CTI BioPharma Corp. (CTIC)|By:, SA News Editor

Cell Therapeutics (CTIC +15.2%) jumps after announcing the licensing terms under which Novartis (NVS) would be able to develop and commercialize CTIC's Pixuvri cancer drug, which was recently approved by the EU. Should Novartis exercise its option on Pixuvri, the drug giant would owe CTIC a $7.5M license fee, up to $104M in milestone payments, and ongoing royalties.