CTIC

CTI BioPharma Corp

Healthcare


Presented:10/13/2022
Price:$4.83
Cap:$0.55B
Current Price:$9.09
Cap:$1.20B

Presented

Date10/13/2022
Price$4.83
Market Cap$0.55B
Ent Value$0.66B
P/E RatioN/A
Book ValueN/A
Div Yield0%
Shares O/S114.39M
Ave Daily Vol4,283,670
Short Int16.56%

Current

Price$9.09
Market Cap$1.20B
CTI BioPharma Corp. is a biopharmaceutical company, which engages in the development, acquisition, and commercialization of novel targeted therapies for blood-related cancers. It focuses on evaluating pacritinib, its sole product candidate currently in active development, for the treatment of adult patients with myelofibrosis. The company was founded by James A. Bianco, Jack W. Singer, and Louis A. Bianco in September 1991 and is headquartered in Seattle, WA.

Publicly traded companies mentioned herein: CTI BioPharma Corp (CTIC), Incyte Corp (INCY)

Highlights

The presenter is long shares of CTI BioPharma Corp (CTIC), his favorite biopharma idea currently given the recent sell-off from ~$7 per share to sub-$5. CTIC launched a drug called VONJO in March, making it the first FDA-approved treatment for cytopenic myelofibrosis. VONJO initially received first- and second-line treatment approval for high-risk myelofibrosis patients. More recently, it was included in the NCCN Oncology Guidelines, opening up second-line usage to low-risk myelofibrosis patients, and the company also started releasing new anemia benefit data. The biggest pushback is that VONJO is a dirty drug, but according to the presenter, people in primary clinics don’t care because they don’t have to titrate the drug. Going forward, he expects VONJO to take some market share from Jakafi, especially in the second-line setting, at which point he would value the stock at $9+ per share.

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Idea Discussion

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