CTI BioPharma Meets One Of Two Endpoints In Phase 3 Trial

CTI BioPharma Corp. CTIC shares are trading higher on Monday after the company announced its preliminary results of PERSIST-2 that met one of the co-primary endpoints in phase three study.

Earlier, in the day, the company disclosed top line results of a randomized, controlled final stage clinical study of PERSIST-2 comparing pacritinib for the treatment of patients with myelofibrosis. A total of 311 patients were enrolled in the trial that formed the basis for the safety analysis.

The company indicated that the end point demonstrated statistically significant response rate in spleen volume reduction (SVR) in patients, who get treatment for myelofibrosis. Though its PERSIST-2 study failed to meet the other co-primary endpoint, its preliminary analysis approached marginal significance in comparison with BAT.

CTI BioPharma President and CEO, James Bianco, said, "Having analyzed data from two Phase 3 trials with the only JAK inhibitor to be studied in severely thrombocytopenic patients, including patients on JAK2 therapy or those who failed prior JAK2, we are encouraged by pacritinib's clinical profile in this difficult-to-treat group of patients with myelofibrosis."

At time of writing, the stock traded up by $0.044, or 12.66 percent, to $0.394.