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This pharmaceutical company looks very good at this bottom with news out today. If you saw the results of ANSV from .07 to 1.49 in 2 days no reason why this one won't turn around for substantial gains. Press Release Source: Cell Therapeutics, Inc. Cell Therapeutics and Spectrum Pharmaceuticals Close Transaction Forming Joint Venture to Market Zevalin in the US Tuesday December 16, 2008, 1:30 am EST Yahoo! Buzz Print Related:Cell Therapeutics, Inc., Rodman & Renshaw Capital Group, Inc. SEATTLE, Dec. 16 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc.(CTI) (Nasdaq and MTA: CTIC) announced today they have closed the transaction with Spectrum Pharmaceuticals, Inc. to form a 50/50 owned joint venture, RIT Oncology LLC (LLC), to commercialize and develop Zevalin® ([90Y]-ibritumomab tiuxetan) in the United States. In connection with the closing, Cell Therapeutics received an initial payment of $7.5 million and will receive an additional $7.5 million in early January. The Company may earn an additional $15 million in product sales milestone payments upon achievement of certain revenue targets.
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I agree I bought 2500 shares today. Was wondering why it seems like nobody else jumped on the news
Happy Valley
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Hmmm...Over 34 million served yesterday and a red close...Another 10x average daily volume day today and red again...Ugly balance sheet, tons of debt...
Lots of beat up Bios with manageable debt and trading well under their cash positions...Why do you like CTIC so much???Looking for a dead cat bounce off it's lows here or is there something else in the pipeline???
gumzsa
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There was a new 8-k filing. Should bounce next week.I got in at .19 so i am not happy with where its at either.
In a recent analytical update on oncology-centric biopharma company Cell Therapeutics, Inc. (CTIC), Zacks senior healthcare analyst Grant Zeng, CFA has issued a Buy rating on the company. We excerpted the following details:
"Cell Therapeutics, Inc. develops, acquires, and commercializes novel treatments for cancer. Recent acquisition of Zevalin should generate revenue for the company and prepare the company for the future launch of other cancer products. Two pipeline products, Xyotax and Pixantrone, account for the late-stage oncology focus. We are optimistic about Cell Therapeutics' future, and believe the shares are attractive at the current level.
"In September 2006, Cell Therapeutics entered into a partnership agreement with Novartis (NVS) for Xyotax. The deal included as much as $270 million registration and sales milestone payment to CTIC and $15 million equity investment. The agreement also provided Novartis the option to develop and commercialize Pixantrone based on agreed terms.
"If Novartis exercises its option on Pixantrone, it would pay CTIC a $7.5 million fee and up to $104 million in registration and sales related milestones. Given the current low stock price, we believe the market is significantly discounting the possibility that Xyotax or Pixantrone receives U.S. Food and Drug Administration (FDA) approval.
"We believe that most of the risks have been factored into the current share price and we would be buyers of the stock given our belief that Xyotax and Pixantrone will be on the market in 2009. In our view, the street is overly pessimistic on the development programs for Xyotax and Pixantrone. We continue to rate the stock a Buy, with a price target of $6."
Been buying this one all week on these great dips..seems a real no-brainer to me..and under .14 cents..wow!!!sums it up to me..glta
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