Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, December 4, 2:25 AM
|This Slide: #214 of 573|
Slide #214. CTI BioPharma Corp. — Preferred Stock Offering
CTI BioPharma Corp. (NASDAQ:CTIC)
Preferred Stock Offering Details:
CTI BioPharma Corp. ("CTI") (NASDAQ and MTA: CTIC) today announced that it intends to offer and sell, subject to market and other conditions, shares of its Series N-3 Preferred Stock in an underwritten public offering (the "Offering"). Each share of Series N-3 Preferred Stock will have a stated value of $1,000 per share and will be convertible at the option of the holder, at any time after issuance and subject to certain limitations, into shares of common stock.
CTI BioPharma is a biopharmaceutical company focused on the acquisition, development and commercialization of targeted therapies for blood-related cancers. Co. is focused on evaluating pacritinib, its key product candidate in development for the treatment of adult patients with myelofibrosis. Pacritinib is an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1 and CSF1R. In addition to myelofibrosis, the kinase profile of pacritinib suggests its potential therapeutic utility in conditions such as acute myeloid leukemia, myelodysplastic syndrome, chronic myelomonocytic leukemia and chronic lymphocytic leukemia due to its inhibition of c-fms, IRAK1, JAK2 and FLT3.
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Strong Buy (3.75 out of 4)
(ranked higher than approx. 67% of all stocks covered)
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