In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), CTI BioPharma Corp. (NASDAQ:CTIC) reported that Biotechnology Value Fund L P has picked up 3,566,549 of common stock as of 2017-06-14.
The acquisition brings the aggregate amount owned by Biotechnology Value Fund L P to a total of 3,566,549 representing a 8.3% stake in the company.
For those not familiar with the company, CTI BioPharma Corp. (CTI) is a biopharmaceutical company focused on the acquisition, development and commercialization of targeted therapies covering a spectrum of blood-related cancers to patients and healthcare providers. The Company is primarily focused on commercializing PIXUVRI in select countries in the European Union, for multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma (NHL). It is also engaged in evaluating pacritinib for the treatment of adult patients with myelofibrosis. Its earlier stage product candidate, tosedostat, is an oral, once-daily aminopeptidase inhibitor that has demonstrated responses in patients with acute myeloid leukemia (AML). It also evaluates its pipeline candidate paclitaxel poliglumex (Opaxio), which targets solid tumors. It is evaluating Opaxio through cooperative group sponsored trials and investigator-sponsored trials (ISTs), such as the ongoing maintenance therapy trial in patients with ovarian cancer.
A glance at CTI BioPharma Corp (NASDAQ:CTIC)’s key stats reveals a current market capitalization of $99.43 Million based on $28.39 Million shares outstanding and a price at last close of $3.45 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-01-08, Bvf picked up 58,613 at a purchase price of $1.22. This brings their total holding to 17,263,200 as of the date of the filing.
On the sell side, the most recent transaction saw Bianco unload 10,000 shares at a sale price of $0.37. This brings their total holding to 1,780,133.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on CTI BioPharma Corp. (NASDAQ:CTIC) as things move forward to see if its progress aligns with these transactions.
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