Cell Therapeutics, Inc. Among The Biggest Gainers
15 Jun 2010

Cell Therapeutics, Inc. (NASDAQ:CTIC) got among the biggest market gainers last week. On Friday the stock surged by 24.24% on the unusual volume of over 28 million shares. Currently, CTI trades at $0.50 per share, and the market cap totals 332.74M. If the stock continues to move up, we can consider an uptrend has occurred.

Following the records, we can see that a compensation of $1.500 was paid for CTI to be promoted, but the stock was 61% down this year. However, today the company reported that the national authority responsible for drug regulation in Italy (AIFA), has approved a facility at NerPharMa DS for the production of CTI’s drug candidate pixantrone. As Cell Therapeutics has received many positive feedback ot its clinical tests, the company expects successful results in future.

Cell Therapeutics, Inc. develops, acquires and commercializes different treatments for cancer. It focuses on building a bio-pharmaceutical company with a diversified portfolio of oncology drugs.

CTI’s financial results show that during the three months ended March 31, 2009, the company has recorded a $10.2 million one-time gain on the sale of its 50% interest in RIT Oncology. For the period ended March 31, 2010, CTI’s research and development expenses have decreased as compared to the same period in 2009, but its selling, general and administrative expenses have exceeded $18 million.

The company registered a net income of over $26 thousand, while its operating income went over $25 thousand. Currently, the CTI stock continues to raise up and the company relies on the approval and development of its new drug candidates.

On June 29, 2010, Cell Therapeutics, Inc. is holding a special meeting of the shareholders at its headquarters in Seattle and the results will be published on the company’s official website.

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