CTI Biopharma surges after FDA approves bone marrow drug

DRI Healthcare Trust

01/03/2022 12:28

** Biotech's shares  CTIC.O  surge 30% to $2.45 before the
bell  
    ** Says late on Monday the U.S. Food and Drug Administration
has approved its drug for treating adult patients with a type of
bone marrow cancer who also have low blood platelet count
 urn:newsml:reuters.com:*:nL4N2V407R
    ** The approval triggered a $60 mln payment from DRI
Healthcare Trust  DHT_u.TO  for a tiered royalty on the
treatment
    ** DRI Healthcare eligible to get royalties equal to 9.6% of
the first $125 mln the drug brings in annual U.S. net sales
    ** CTIC down 23% YTD through Monday's close 

 (Reporting by Ankur Banerjee in Bengaluru)