Biopharmaceutical company focused on the acquisition, development and commercialization of novel targeted therapies covering a spectrum of blood-related cancers that offer a unique benefit to patients and healthcare providers, CTI BioPharma, Corp. (NASDAQ:CTIC) announced the results of a translational pharmacology study.
SEATTLE, Dec. 1, 2016 /PRNewswire/ — CTI BioPharma Corp. (CTI BioPharma) (NASDAQ and MTA: CTIC) today announced the results of a translational pharmacology study comparing biomarker activity profiles for three JAK inhibitors: pacritinib, ruxolitinib and momelotinib, using the BioMAP® Diversity PLUS panel of in vitro human primary cell-based systems. The results demonstrated distinct profiles amongst these JAK inhibitors and suggest that clinical responses are likely to be distinct with each agent. The results were presented at the EORTC-NCI-AACR Molecular Targets and Cancer Therapeutics Symposium, November 29 – December 2 in Munich, Germany.
At clinically relevant concentrations, each of the JAK inhibitors reduced inflammatory mediators associated with myelofibrosis such as TNF and IL-6, however they had divergent effects on other immunological and inflammatory pathways. When tested on human lymphoid cells, pacritinib had the strongest inhibitory activities on sIL-17A, sIL-2 and sIL-6, mediators involved in autoimmune responses, while ruxolitinib had the broader inhibitory activities in multiple systems. Both ruxolitinib and pacritinib were inhibitory to B cells, but only ruxolitinib inhibited T cells that are associated with cell-mediated immunity. Only pacritinib was anti-proliferative to endothelial cells and fibroblasts, effects commonly seen in agents with anti-cancer properties. The resulting distinct phenotypic profiles of pacritinib, ruxolitinib and momelotinib, illustrate that although all were developed as JAK2-ATP binding site inhibitors, they have divergent biological effects and likely will have distinct clinical activities.
The poster for Abstract #P094: “Comparative Biomarker Profiles of Pacrtitinib, Momelotinib, Pexidartinib and Ruxolitinib Using BIOMAP® Diversity Plus Panel” is available at www.ctibiopharma.com.
Pacritinib is an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1 and CSF1R. The JAK family of enzymes is a central component in signal transduction pathways, which are critical to normal blood cell growth and development, as well as inflammatory cytokine expression and immune responses. Mutations in these kinases have been shown to be directly related to the development of a variety of blood-related cancers, including myeloproliferative neoplasms, leukemia and lymphoma. In addition to myelofibrosis, the kinase profile of pacritinib suggests its potential therapeutic utility in conditions such as acute myeloid leukemia, or AML, myelodysplastic syndrome, or MDS, chronic myelomonocytic leukemia, or CMML, and chronic lymphocytic leukemia, or CLL, due to its inhibition of c-fms, IRAK1, JAK2 and FLT3.
About CTI BioPharma
CTI BioPharma Corp. is a biopharmaceutical company focused on the acquisition, development and commercialization of novel targeted therapies covering a spectrum of blood-related cancers that offer a unique benefit to patients and healthcare providers. CTI BioPharma has a commercial presence in Europe with respect to PIXUVRI® and a late-stage development pipeline, including pacritinib for the treatment of patients with myelofibrosis. CTI BioPharma is headquartered in Seattle, Washington, with offices in London and Milan under the name CTI Life Sciences Limited. For additional information and to sign up for email alerts and get RSS feeds, please visit www.ctibiopharma.com.
This press release includes forward-looking statements, which are within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results and the trading price of the issuers’ securities. Such statements include, but are not limited to expectations with respect to the potential therapeutic utility of pacritinib. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The statements are based on assumptions about many important factors and information currently available to us to the extent we have thus far had an opportunity to fully and carefully evaluate such information in light of all surrounding facts, circumstances, recommendations and analyses. A number of results and uncertainties could cause actual results to differ materially from those in the forward-looking statements, including: satisfaction of regulatory and other requirements; that trial results observed to date may differ from future results or that different conclusions or considerations may qualify such results once existing data has been more fully evaluated; actions of regulatory bodies and other governmental authorities; other clinical trial results; changes in laws and regulations; product quality, product efficacy, study protocol, data integrity or patient safety issues; product development risks; and other risks identified in each of the issuer’s most recent filings on Forms 10-K and 10-Q and other Securities and Exchange Commission filings. Except as required by law, CTI BioPharma does not intend to update any of the statements in this press release upon further developments.
CTI BioPharma, Corp. (NASDAQ:CTIC) shares have moved +9.605% on the news thus far today and have traded in the range of $0.451 – 0.580 during the current session. In order to take a look at where the stock might be headed longer term, investors often look to research firms that cover the stock. Sell-side research firms currently have a consensus one-year price target of $0.380 on the stock. This is according to brokerage analysts polled by Thomson Reuters First Call. The sell-side analysts are projecting earnings per share of $-0.070 for the next fiscal quarter. For the current year, analysts are predicting earnings of $-0.200 per share according to First Call.
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In looking at where the stock is trading on a technical level, the stock is trading +23.275% away from its 50-day moving average of $0.393. Based on the most recent available data, the equity is -63.806% off of its 52-week high of $1.340 and +92.920% away from its 52-week low which is $0.251.
Today, the stock opened at $0.550 and the last bid at the time of writing stood at $0.485. During the session thus far, the equity dipped down to $0.451 and touched $0.580 as the high point. CTI BioPharma, Corp. (NASDAQ:CTIC) has a market cap of $135.81M and has seen an average daily volume of 650,188 over the past three months.
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