CTI BIOPHARMA CORP. (NASDAQ:CTIC) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
be filed for purposes of Section 18 of the Securities Exchange
Act of 1934, as amended (the Exchange Act), or otherwise subject
to the liabilities of that section, and shall not be incorporated
by reference into any filing or other document filed by the
Company to the Securities Act of 1933, as amended, or the
Exchange Act, whether made before or after the date hereof and
regardless of any general incorporation language in such filing
or document, except to the extent expressly set forth by specific
reference in such filing or document. The information provided to
this Item 7.01 shall instead be deemed furnished.
press release in Italy announcing that the Companys Board of
Directors (the Board) approved a reverse stock split in order to
regain compliance with The NASDAQ Stock Market LLC (the NASDAQ)
minimum closing bid price of $1.00 per share. A copy of the
English translation of the press release, entitled CTI BioPharma
Announces Planned Reverse Stock Split is furnished as Exhibit
99.1 hereto.
approved a reverse stock split in order to regain compliance with
NASDAQs minimum closing bid price of $1.00 per share. Upon the
effectiveness of the reverse stock split, each of the Companys
shareholders will receive one (1) new share of the Companys
common stock (the Common Stock) for every ten (10) shares of the
Common Stock that such shareholder holds. The reverse stock split
will affect all of the Companys authorized shares, including all
outstanding shares of Common Stock as well as the number of
shares of Common Stock underlying stock options, warrants and
other exercisable or convertible instruments outstanding at the
effective time of the reverse stock split. It is anticipated that
the reverse stock split will become effective on or about January
1, 2017.
statements that are made to the Safe Harbor provisions of the
Private Securities Litigation Reform Act of 1995, including,
without limitation, statements regarding the planned
effectiveness of the reverse split of the Companys Common Stock
and the Companys future compliance with the NASDAQ listing
requirements for continued listing on The NASDAQ Capital Market.
Forward-looking statements involve a number of risks and
uncertainties, the outcome of which could materially and/or
adversely affect actual future results and the trading price of
the Companys securities. Specifically, the risks and
uncertainties that could affect the Company include risks
associated with preclinical and clinical developments in the
biopharmaceutical industry, including, without limitation, that
the Company may experience continued delays in the regulatory
approval process of its products, the Companys ability to
continue to raise capital as needed to fund its operations, that
the reverse stock split may not increase the per-share-trading
price of the Common Stock to regain compliance with the NASDAQ
listing requirements for continued listing on The NASDAQ Capital
Market, that the reverse stock split may not become effective on
or about January 1, 2017, competitive factors, technological
developments, costs of developing, producing and selling the
Companys product candidates, and the risk factors listed or
described from time to time in the Companys filings with the
Securities and Exchange Commission, including, without
limitation, the Companys most recent filings on Forms 10-K, 10-Q
and 8-K. Except as may be required by law, the Company does not
intend to update or alter its forward-looking statements whether
as a result of new information, future events or otherwise.
Exhibit
No.
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Description
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Location
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99.1
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English translation of the Press Release, dated
December 9, 2016, entitled CTI BioPharma Announces Planned Reverse Stock Split. |
Furnished herewith.
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About CTI BIOPHARMA CORP. (NASDAQ:CTIC)
CTI BioPharma Corp. (CTI) is a biopharmaceutical company focused on the acquisition, development and commercialization of targeted therapies covering a spectrum of blood-related cancers to patients and healthcare providers. The Company is primarily focused on commercializing PIXUVRI in select countries in the European Union, for multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma (NHL). It is also engaged in evaluating pacritinib for the treatment of adult patients with myelofibrosis. Its earlier stage product candidate, tosedostat, is an oral, once-daily aminopeptidase inhibitor that has demonstrated responses in patients with acute myeloid leukemia (AML). It also evaluates its pipeline candidate paclitaxel poliglumex (Opaxio), which targets solid tumors. It is evaluating Opaxio through cooperative group sponsored trials and investigator-sponsored trials (ISTs), such as the ongoing maintenance therapy trial in patients with ovarian cancer. CTI BIOPHARMA CORP. (NASDAQ:CTIC) Recent Trading Information
CTI BIOPHARMA CORP. (NASDAQ:CTIC) closed its last trading session up +0.006 at 0.510 with 1,806,485 shares trading hands.