Momentum Stock Watch: CTI BioPharma 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 offers VONJO (pacritinib), an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1, and CSF1R for the treatment of adult patients with myelofibrosis. It has license and collaboration agreement with Teva Pharmaceutical Industries Ltd.; S*BIO Pte Ltd.; and Baxalta. The company was formerly known as Cell Therapeutics, Inc. and changed its name to CTI BioPharma Corp. in May 2014. CTI BioPharma Corp. was incorporated in 1991 and is headquartered in Seattle, Washington.

Recent News:

The company reported strong U.S. commercial launch of VONJO (pacritinib) underway following accelerated FDA approval for the treatment of adult patients with Myelofibrosis and Thrombocytopenia.

The company reported that net product sales of $2.3 million for the first quarter ended March 31, 2022 were attributable to VONJO product sales in the United States. There were no product sales for the comparable period in 2021.

As of March 31, 2022, the company reported cash and cash equivalents totaled $96.9 million. It expects its present financial resources, including expected cash receipts from receivables arising from historical net product sales of VONJO, will enable it to fund its operations into the first quarter of 2023.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects:

Price to Book Value – P/BV, a ratio used to compare book value to its current market price, to gauge whether a stock is valued properly.

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Price to Earnings – PE, the ratio for valuing a company that measures its current share price relative to its earnings per share (EPS).

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Discounted cash flow – DCF, a valuation method used to estimate the value of an investment based on its expected future cash flows.

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Return on Assets – ROA, indicates how profitable a company is in relation to its total assets, how efficiently uses assets to generate a profit.

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Return on Equity – ROE, a measure of financial performance calculated by dividing net income by equity. a gauge of profitability and efficiency.

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Debt to Equity – evaluate financial leverage, reflects the ability of equity to cover outstanding debts in the event of a business downturn.

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Conclusion:

CTIC receives outperform rating in discounted cash flow and return on equity. Technical indicators signal the bullish signs, as there is a bullish crossover in the Stochastic oscillator, the MACD is trying to cross back up and the RSI stands at 57.6 with positive bias. We rate CTI BioPharma Corp. (CTIC) a BUY.

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