Here’s Why CTI BioPharma Corp (CTIC) Stock Soared Before Market-Open Today

March 9, 2015 4:43 PM

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CTI BioPharma Corp (NASDAQ:CTIC) announced before US market opened for trading on Monday that the company's experimental drug designed to treat a rare form of blood cancer met its primary endpoint in a pivotal late stage study, sending the shares up 8.3% in pre-market trade, as of the time of the report.

The Seattle, Washington-based biotech reported that Pacritinib proved to be clinically better than the “best available therapies” traditionally prescribed to treat myelofibrosis. The details of the trial, however, will be released at a scientific conference due to be held at a later date.

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