Shares of Cell Therapeutics Inc. (NASDAQ: CTIC) surged 23% at today’s opening day, kicking off another day in a week of gains for the company.�� In the last three trading sessions the penny stock of Cell Therapeutics gained 38.21%; the stock gained 73.33% in the last five trading sessions.
The rally in shares of Cell Therapeutics comes after the company announced that it entered into a co-development and license agreement with Chroma Therapeutics. The agreement provides Cell Therapeutics with exclusive marketing and co-development rights to Chroma�s drug candidate tosedostat in North, Central and South America. As part of the agreement, Cell Therapeutics will make an upfront payment of $5 million and a milestone payment of $5 million.
Commenting on the agreement, Jams A. Bianco, M.D., CEO of Cell Therapeutics, said that Tosedostat represents a departure from conventional cytotoxic chemotherapy toward more tumor selective targeted therapy that interferes with cellular pathways necessary for tumor survival.
Last week Cell Therapeutics also announced the final clinical trial design of a randomized pivotal trial of pixantrone for the treatment of diffuse large B-cell lymphoma after discussions with the U.S. FDA�s Division of Hematologic Products.
Cell Therapeutics is a Seattle, Washington-based company, engaged in the development, acquisition and commercialization of treatments for cancer. The company is looking to build a diversified portfolio of oncology drugs.
- This newsletter has been helping traders make a killing on CTIC. Click here for a 25% discount offer.
- Need fast service and cheap rates from a broker? Buy stock online at my favorite brokerage
- Want more? Check out the message board buzz for CTIC
- See what newsletters are recommending these stock picks
- Get breakingnews alerts on these stocks: http://thestockmarketwatch.com/
No comments:
Post a Comment