DALLAS, Sept. 8, 2009 (GLOBE NEWSWIRE) -- InvestorSoup.com announces an investment report featuring Cell Therapeutics Inc. (Nasdaq:CTIC). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
The investment report on Cell Therapeutics Inc. (Nasdaq:CTIC) should be of particular interest to other biotechnology and pharmaceutical companies: Novartis AG (NYSE:NVS), OSI Pharmaceuticals Inc. (Nasdaq:OSIP), Abraxis Bioscience Inc. (Nasdaq:ABII) and Bristol Myers Squibb Co. (NYSE:BMY).
It is available at: http://www.investorsoup.com/lp/CTIC
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Cell Therapeutics Inc. (Nasdaq:CTIC) engages in developing, acquiring and commercializing treatments for cancer. The Company's research, development, acquisition and in-licensing activities concentrate on identifying and developing new, less toxic, and more effective ways to treat cancer. All of CTIC's current product candidates are under development. The Company's development portfolio includes a phase III treatment for non-Hodgkin's lymphoma; a treatment for non-small cell lung, ovarian and other cancers; and a phase II treatment for sarcoma.
In the report, the analyst notes:
"According to the Company's quarterly report for the three months ended June 30, 2009, it expects that unless it executes a partnership agreement for its Pixantrone treatment with adequate terms to cover operating expenses, it will generate losses at least through 2009 due to research and development costs related to Pixantrone, OPAXIO and brostacillin. CTIC estimates that its average cash burn rate for the remainder of 2009 is between $5.5 million and $6.5 million per month.
"On August 24, 2009, the Company announced that the U.S. Food and Drug Administration (FDA) accepted its New Drug Application (NDA) for Pixantrone. CTIC requested a priority review, which if granted, could lead to an FDA approval in the fourth quarter in 2009. The FDA will make a final decision on the review's status on September 4, 2009."
To read the entire report visit: http://www.investorsoup.com/lp/CTIC
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