CTI BioPharma falls after FDA extends cancer drug review period

CTI Biopharma

01/12/2021 10:53

** Drug developer's  CTIC.O  shares fall 16.8% to $1.89
premarket
    ** Late on Tuesday co said U.S. FDA has extended by three
months review period of its experimental therapy, Pacritinib,
for patients with myelofibrosis, a type of blood cancer, who
have low blood platelet count  urn:newsml:reuters.com:*:nPn5QmmtLa
    ** The new target date is Feb. 28, 2022
    ** In November, co had submitted additional clinical data,
as per FDA's request
    ** Co says FDA has informed that it considers data
submission to constitute a "major amendment" and therefore
review period has been extended
    ** In H2 of 2021, FDA granted priority review for CTIC's
application for Pacritinib
    ** Up to Tuesday's close, CTIC stock had lost ~30% this year

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))