CTI BioPharma up on enrolling first patient in COVID-19 drug study

CTI Biopharma

01/06/2020 14:52

** Biopharmaceutical co's shares  CTIC.O  rise 20.58% to
$1.22
    ** Co announces enrollment of the first patient in a
late-stage study of drug pacritinib among hospitalized patients
with severe COVID-19  urn:newsml:reuters.com:*:nPn1YG76ma
    ** Co expects to report results by the end of 2020
    ** Pactrinib could reduce effects of cytokine storm — an
inflammatory response in novel coronavirus patients that leads
to respiratory failure and requires mechanical ventilation — co
    ** Says trial will study effectiveness of pacritinib along
with standard of care and see proportion of patients who
progress to needing mechanical ventilation, or die by Day 28
    ** CTIC stock down 21.52% YTD

 (Reporting by Vishwadha Chander in Bengaluru)
 ((Vishwadha.Chander@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 80 6749 6132;))