INVESTOR ALERT: Investigation of CTI BioPharma Corp. Announced by Law Offices of Howard G. Smith

BENSALEM, Pa.--(BUSINESS WIRE)--

Law Offices of Howard G. Smith announces an investigation on behalf of investors of CTI BioPharma Corp.("CTI" or the "Company") CTIC concerning the Company and its officers' possible violations of federal securities laws.

On February 8, 2016, pre-market, CTI disclosed that it had been alerted by the U.S. Food and Drug Administration (FDA) that the FDA had placed a partial hold on clinical studies of CTI's primary product, pacritinib. The FDA has recommended that CTI amend its procedures for randomized studies to disallow crossover to pacritinib, provide specific notifications, adjust certain statements in both the investigator's brochure and informed consent documents and other actions.

Upon this news, CTI stock fell $0.62, or nearly 55%, to just $0.50 per share during intraday trading on February 8, 2016, thereby injuring investors. On February 9, 2016, after the market close, the Company disclosed that the FDA has placed the Company's pacritinib on full clinical hold, and CTI had withdrawn its NDA until further review of safety and efficacy data from trials. On this news shares of CTI fell by nearly 40% per share on February 10, 2016 during intraday trading.

If you purchased CTI securities and have suffered a loss, or if you have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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