Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sun, December 5, 6:53 AM
|This Slide: #306 of 573|
Slide #306. CTI BioPharma Corp. — Preferred Stock Offering
CTI BioPharma Corp. (NASDAQ:CTIC)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
CTI BioPharma Corp. ("CTI") (NASDAQ and MTA: CTIC) today announced the pricing of an underwritten public offering of 55,000 shares of its Series N-2 Preferred Stock, offered at a price to the public of $1,000 per share of Series N-2 Preferred Stock (the "Offering"). Each share of Series N-2 Preferred Stock is convertible at the option of the holder, at any time subject to certain limitations, into shares of our common stock at a conversion price of $1.10 per share of common stock, for a total of approximately 50,000,000 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)
Based on data provided by Zacks Investment Research via Quandl.com