CTI Biopharma Crashing After FDA Puts Key Drug On Full Clinical Hold

February 10, 2016 1:01 PM | 1 min read | Make a Comment

Shares of

CTI BioPharma CorpCTIC

, a bio-pharmaceutical company that focuses on treating blood-related cancers, plunged more than 40 percent on Wednesday and hit a new 52-week low of $0.25. CTI BioPharma

confirmed

it has received oral and written communication from the U.S. Food and Drug Administration (FDA) notifying the company that its Investigation New Drug (IND) application for pacritinib has been placed on a full clinical hold. CTI BioPharma

disclosed on Monday that the FDA had placed a partial clinical hold. CTI BioPharma added that it has withdrawn its NDA until it has had a chance to review the safety and efficacy data from the PERSIST-2 Phase 2 trial. Shares of CTI BioPharma are now lower by more than 85 percent over the past year.

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Posted In: News FDA CTI BioPharma Full Clinical Hold pacritinib

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