This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cell Therapeutics Crushed

Cell Therapeutics (CTIC - Get Report) shares plunged early Monday after the biotech company reported disappointing clinical results for its cancer drug.

The Seattle-based company said a phase III study of its drug Xyotax in combination with carboplatin, known as Stellar 3, missed its primary endpoint in treating patients with nonsmall-cell lung cancer.

Cell Therapeutics had hoped the data would show its treatment was superior to standard chemotherapy.

"We are disappointed that Xyotax in combination with carboplatin showed equal efficacy after the unprecedented blended median and one-year survival we saw on the trial," the company said in a statement. "We are encouraged by the preliminary analysis, which demonstrates a significant Xyotax treatment effect, reduction in toxicities, and increased patient convenience."

In the premarket, shares were trading at $5.11, down $4.89, or almost 50%.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
CTIC $1.79 0.56%
AAPL $124.35 -1.20%
FB $77.25 -0.40%
GOOG $526.64 -0.78%
TSLA $231.43 -0.65%

Markets

DOW 17,864.81 -63.39 -0.35%
S&P 500 2,095.34 +5.88 0.28%
NASDAQ 4,954.0020 +14.6750 0.30%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs