CTI BioPharma’s Pacritinib Meets One Co-Primary Endpoint, Just Misses Another, In PERSIST-2
The US company is encouraged by top-line efficacy Phase III results showing pacritinib was effective in high-risk myelofibrosis patients with low platelet counts, and has said it is working with the FDA to lift the clinical hold imposed earlier this year because of side-effect concerns.
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Firm publishes final data from a Phase III study showing the safety-troubled JAK2/FLT3 inhibitor performs better than Jakafi in reducing spleen size. Ongoing dose-finding study will determine the regulatory path forward.
Athenex and Immuron launched IPOs in the US, but June has otherwise been a pretty quiet month for new biopharma financings – so far. The largest VC round so far this month is Checkmate's $27m Series B and the biggest public offering was conducted by CTI BioPharma, raising $45m.
With the commercial opportunity in the myelofibrosis market expected to double to over $1bn in the next five years, competition to Incyte/Novartis's Jakafi seems further away than ever as CTI BioPharma pulls the European regulatory filing for pacritinib.