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CTI BioPharma (CTIC)

CTI BioPharma Corp. is a biopharmaceutical company focused on the acquisition, development and commercialization of novel targeted therapies for blood-related cancers that offer a unique benefit to patients and their healthcare providers. The company concentrates its efforts on treatments that target blood-related cancers where there is an unmet medical need. In particular, we are focused on evaluating pacritinib, our sole product candidate currently in active late-stage development, for the treatment of adult patients with myelofibrosis. In addition, the company has recently started developing pacritinib for use in hospitalized patients with severe COVID-19, in response to the COVID-19 pandemic. The company's headquartered in Seattle, Washington.

CTIC stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

11 May 22
2 Jul 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 96.9M 96.9M 96.9M 96.9M 96.9M 96.9M
Cash burn (monthly) (no burn) (no burn) 11.7M 9.45M 9.99M 8.17M
Cash used (since last report) n/a n/a 35.88M 28.97M 30.65M 25.07M
Cash remaining n/a n/a 61.02M 67.93M 66.26M 71.83M
Runway (months of cash) n/a n/a 5.2 7.2 6.6 8.8

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
17 Jun 22 David Kirske common stock Sell Dispose S No Yes 6.2501 50,000 312.51K 7,397
17 Jun 22 David Kirske common stock Option exercise Acquire M No No 3.3 50,000 165K 57,397
17 Jun 22 David Kirske common stock Sell Dispose S No Yes 6 10,000 60K 7,397
17 Jun 22 David Kirske common stock Option exercise Acquire M No No 1 10,000 10K 17,397
17 Jun 22 David Kirske NQSO Common Stock Option exercise Dispose M No No 3.3 50,000 165K 150,000
17 Jun 22 David Kirske NQSO Common Stock Option exercise Dispose M No No 1 10,000 10K 340,000
14 Jun 22 David Kirske common stock Sell Dispose S No Yes 5.5 10,000 55K 7,397
14 Jun 22 David Kirske common stock Option exercise Acquire M No No 0.9489 10,000 9.49K 17,397
14 Jun 22 David Kirske NQSO Common Stock Option exercise Dispose M No No 0.9489 10,000 9.49K 490,000
3 Jun 22 Adam R Craig common stock Sell Dispose S No Yes 6.01 18,223 109.52K 16,678
13F holders Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Largest transactions Shares Bought/sold Change

Financial report summary

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Management Discussion
  • Net product sales. We began recognizing product sales in March 2022 following the accelerated approval of VONJO by the FDA on February 28, 2022 and its subsequent commercial launch in the United States. Net product sales for the three months ended March 31, 2022 were $2.3 million. We did not have any product sales for the three months ended March 31, 2021.
  • Chargebacks and rebates are expected to be the most significant component of our total gross-to-net deductions. Future gross-to-net deductions will fluctuate based on the volume of purchases eligible for government mandated discounts and rebates as well as changes in the discount percentage which is impacted by the rate of inflation and other factors. We expect gross-to-net deductions to increase for the remainder of 2022, driven by anticipated growth in our gross product sales.
  • Cost of sales. During the three months ended March 31, 2022, we recorded $0.3 million of cost of sales, which primarily consisted of amortization expense for intangible assets, shipping and distribution costs as well as third-party royalty costs. We did not have any cost of sales for the three months ended March 31, 2021. The manufacturing costs for VONJO incurred prior to regulatory approval were not capitalized as inventory but were expensed as research and development costs since product manufactured prior to regulatory approval may not be sold unless regulatory approval is obtained. The time period over which reduced-cost VONJO inventory is consumed will depend on a number of factors, including the amount of future sales, the ultimate use of this inventory in either commercial sales, clinical development or other research activities, and the ability to utilize inventory prior to its expiration date. At this time, we expect that cost of sales in relation to net product sales will progressively increase towards 2025 as VONJO product manufactured and expensed prior to capitalization is sold.

Content analysis

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H.S. sophomore Avg
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