Attention Seeking Stock: CTI BioPharma Corp.’s (NASDAQ: CTIC)

On 04 Dec 18, CTI BioPharma Corp.’s (NASDAQ: CTIC) above/below -5.26% and ended at $1.62. The stock’s market capitalization arrived at $93.942M and total traded volume was 127,081 shares. During last trade, its maximum trading price was registered $1.7500 and it’s the minimum trading price was noted $1.6200.

CTI BioPharma Corp. (CTIC) recently stated financial results for the third quarter and nine months ended September 30, 2018.

Third Quarter Financial Results


Total revenues for the third quarter and nine months ended September 30, 2018, were $0.7M and $11.8M, respectively, contrast to $1.7M and $24.7M for the respective periods in 2017. The decrease in total revenues for the third quarter in 2018 contrast to the same period in 2017 is primarily Because of the recognition of license and contract revenue in 2017 related to the achievement of a regulatory milestone under the license and alliance contract for PIXUVRI® with Servier. The decrease in total revenues for the nine months ended September 30, 2018 contrast to the same period in 2017 is primarily Because of license and contract revenue that included the recognition of payments received from the expansion of the license and alliance contract for PIXUVRI®with Servier in 2017.

GAAP operating loss was $14.8M and $33.1M for the third quarter and nine months ended September 30, 2018, respectively, contrast to GAAP operating loss of $11.8M and $25.8M for the respective periods in 2017. Non-GAAP operating loss, which excludes non-cash share-based compensation expense, for the third quarter and nine months ended September 30, 2018, was $12.2M and $28.2M, respectively, contrast to non-GAAP operating loss of $10.4M and $21.5M for the respective periods in 2017. Non-cash share-based compensation expense for the third quarter and nine months ended September 30, 2018, was $2.5M and $4.9M, respectively, contrast to $1.4M and $4.3M for the respective periods in 2017. Operating loss in the third quarter of 2018 as contrast to the same period in 2017 resulted primarily from the decrease in license and contract revenue as mentioned above and a decrease in selling, general and administrative expenses. Operating loss for the nine months ended September 30, 2018, as contrast to the same period in 2017 resulted primarily from the decrease in license and contract revenue as mentioned above and an raise in research and development expenses. For information on CTI BioPharma’s use of non-GAAP operating loss and a reconciliation of such measure to GAAP operating loss, see the section below titled “Non-GAAP Financial Measures.”

Net loss attributable to ordinary stockholders for the third quarter of 2018 was $14.8M, or $(0.26) per share, contrast to $12.0M, or $(0.28) per share, for the same period in 2017. Net loss attributable to ordinary stockholders for the nine months ended September 30, 2018, was $30.2M, or $(0.55) per share, contrast to a net loss of $30.8M, or $(0.90) per share, for the same period in 2017.

As of September 30, 2018, cash, cash equivalents and short-term investments totaled $80.9M, contrast to $43.2M as of December 31, 2017.

The company price switched up -4.26% 20-Days Simple Moving Average dropped -12.50% from 50-Days Simple Moving Average and fell -48.44% from 200 Days Simple Moving Average. The volatility in the previous week has experienced by 4.35% and observed of 4.77% in the previous month.62.10% ownership is held by institutional investors while insiders hold ownership of 0.10%.

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