Gains for Cell Therapeutics (CTIC) Would Not Last a Second Day

by BiotechIll
Guest Author

Cell Therapeutics, Inc. (CTIC) today announced that its paclitaxel poliglumex drug OPAXIO has been granted orphan-drug designation by the U. S Food and Drug Administration for the treatment of malignant brain cancer (glioblastoma multiforme). CTIC stock closed up 11.2% on the 4fold of its 10day average volume.

Phase 2 study has been initiated at Brown University Medical Center. Howard Safran, M.D., Medical Director of the Brown University Oncology Group, stated:

The current randomized trial is based on the encouraging results previously demonstrated with OPAXIO and radiation in patients with newly diagnosed malignant brain cancer and specifically targets GBM patients with a genomic marker, unmethylated MGMT, who are less likely to benefit from the current standard of care TMZ and radiation. We are pleased OPAXIO has been granted orphan-drug designation as patients with this disease have a serious unmet medical need for improved long-term survival particularly when MGMT is unmethylated.

OPAXIO has to pass Phase 3 trials to be approved and awarded for seven years of exclusivity. Regardless, we are going to stay away of CTIC (except for day-trading) judging by the lengthy trials process with undefined end-results tied to CTIC’s weak balance sheet and well-known management’s history of dilution.

Cell Therapeutics, Inc.
Corporate Headquarters
3101 Western Ave
Seattle, WA 98121
Tel: 206-282-7100 800-215-CELL
Fax: 206-284-6206

Cell Therapeutics, Inc. is a biopharmaceutical company focused on developing and commercializing novel agents that seek to improve the safety and efficacy of existing standard-of-care cancer treatments, and those that may have unique, new mechanisms to kill cancer cells.

Cell Therapeutics, CTIC, Nasdaq penny stock