WASHINGTON (dpa-AFX) - Cell Therapeutics, Inc. (CTIC) said its first-quarter loss attributable to CTI common shareholders narrowed to $17.45 million or $0.09 per share from $51.02 million or $0.35 per share a year ago.
The narrower net loss attributable to CTI's common shareholders is primarily due to a decrease in deemed dividends and total operating expenses.
Total operating expenses were $18.1 million compared to $20.07 million for the same period last year.
Research and development expenses for the quarter declined to $8.17 million from $11.49 million in the prior-year quarter.
'With potential approval of our MAA for Pixuvri in the E.U. to treat adult patients with multiple relapsed or refractory aggressive B-cell non-Hodgkin lymphoma and tosedostat gearing up to initiate a pivotal phase 3 trial in relapsed or refractory acute myeloid leukemia/myelodysplastic syndromes ('MDS') later this year, the agreement to acquire pacritinib, a highly selective JAK2 inhibitor, rounds out our novel late stage oncology drug portfolio placing us in a select group of biotech companies. Our oncology drug portfolio now spans across a range of blood related cancers,' stated James Bianco, CEO of CTI.
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