Cell Therapeutics (CTIC)

Cell Therapeutics (CTIC) is another firm that presented at the biotech conference I attended last week. Here is a summary of what their CEO said:

1) Operations expenses have been reduced by more than 50%.

2) Debt has been lowered by $53 million.

3) Some drugs used in treatment of Leukemia can increase the risk of coronary problems. Test results released last week show that CTIC's drug Pixuvri has a lowered occurence of coronary issues.

4) Pixuvri also showed a 47% increase in patients surviving for 18 months or more.

5) The FDA is reviewing some of the companies test results.

6) Another cancer drug, Opaxio, is administered to patients more quickly and results in less hair loss than other treatments. An Ovarian Cancer trial is under way for this drug, with an NDA (New Drug Application) possibly being filed in late 2010.