Momentum Stock Watch: Cti Biopharm Corp (CTIC)

Company Profile:

CTI BioPharma Corp., a biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel targeted therapies for blood-related cancers in the United States. It develops pacritinib, an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1, and CSF1R, which is in Phase III clinical trials for the treatment of adult patients with myelofibrosis. It has license and collaboration agreement with Teva Pharmaceutical Industries Ltd.; S*BIO Pte Ltd.; and Vernalis (R&D) Limited. The company was formerly known as Cell Therapeutics, Inc. and changed its name to CTI BioPharma Corp. in May 2014. CTI BioPharma Corp. was founded in 1991 and is headquartered in Seattle, Washington.

Recent News:

For the third quarter of 2020, the company made significant progress in its pacritinib development program and announced the initiation of its rolling New Drug Application (NDA) submission for pacritinib in myelofibrosis patients with severe thrombocytopenia, following a productive Pre-NDA meeting with the U.S. Food and Drug Administration (FDA) on how pacritinib could address the unmet need of this population.

As of September 30, 2020, the company’s cash, cash equivalents and short-term investments totaled $57.4 million, compared to $33.7 million as of December 31, 2019.

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

CTIC’s strengths can be seen in its better growth and better efficiency compared with its peers. Technical indicators signal the bullish signs, as there is a bullish crossover in Stochastic oscillator, The MACD is trying to cross back up and the RSI stands at 51.43 with positive bias. We rate Cti Biopharm Corp (CTIC) a STRONG BUY.