Jefferies cheers CTI BioPharma's bone marrow cancer drug

CTI Biopharma

01/09/2022 10:59

** Jefferies starts coverage of drugmaker CTI BioPharma
 CTIC.O  with "buy" rating on successful debut of its bone
marrow cancer drug Vonjo
    ** Assigns PT of $13; median PT is $10 as per Refinitiv data
    ** Vonjo received U.S. FDA approval in February for treating
adult patients with a type of bone marrow cancer who also have
low blood platelet count  urn:newsml:reuters.com:*:nL4N2V407R
    ** Brokerage says $14.6 mln in sales were achieved within 4
months of launch with upside in moderate anemia
    ** Adds that efficacy data from patients with anemia is
expected by year end and will potentially strengthen competitive
position of Vonjo
    ** Stock has more than doubled in value this year, as of
last close

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com;))