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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Mon., Apr. 12, 10:52 AM

Slide #12. CTI BioPharma Corp. Secondary Offering

Company: CTI BioPharma Corp. (NASDAQ:CTIC)
Date announced: 3/31/2021
Shares Offered: 14,260,800
Date of Pricing: 4/1/2021
Price Per Share: $2.50
Secondary Offering Details: CTI BioPharma Corp. (Nasdaq: CTIC) ("CTI"), a biopharmaceutical company focused on the acquisition, development and commercialization of novel targeted therapies covering a spectrum of blood-related cancers, today announced that it intends to offer and sell shares of its common stock and series X1 preferred stock (the "Series X1 Preferred") in an underwritten registered public offering. All of the securities in the proposed offering are to be sold by CTI. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering. Each share of Series X1 Preferred will be convertible into 10,000 shares of common stock at the election of the holder, subject to beneficial ownership conversion limits applicable to the Series X1 Preferred. -updated 4/1- CTI BioPharma Corp. (Nasdaq: CTIC) ("CTI"), a biopharmaceutical company focused on the acquisition, development and commercialization of novel targeted therapies covering a spectrum of blood-related cancers, today announced the pricing of its previously announced underwritten public offering of 14,260,800 shares of its common stock and 600 shares of its series X1 preferred stock (the "Series X1 Preferred"). In addition, CTI has granted the underwriters a 30-day option to purchase up to an additional 2,139,120 shares of its common stock on the same terms and conditions. The offering price to the public of a share of common stock is $2.50 and the offering price to the public of a share of Series X1 Preferred Stock is $25,000. Each share of Series X1 Preferred will be convertible into 10,000 shares of common stock at the election of the holder, subject to beneficial ownership conversion limits applicable to the Series X1 Preferred.

CTI BioPharma is a biopharmaceutical company focused on the acquisition, development and commercialization of targeted therapies for blood-related cancers. Co. is focused on evaluating pacritinib, its key product candidate in development for the treatment of adult patients with myelofibrosis. Pacritinib is an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1 and CSF1R. In addition to myelofibrosis, the kinase profile of pacritinib suggests its potential therapeutic utility in conditions such as acute myeloid leukemia, myelodysplastic syndrome, chronic myelomonocytic leukemia and chronic lymphocytic leukemia due to its inhibition of c-fms, IRAK1, JAK2 and FLT3.
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Company Name:  CTI BioPharma Corp
Website:  www.celltherapeutics.com
Sector:  Drugs & Pharmaceuticals
Number of ETFs Holding CTIC:  4
Total Market Value Held by ETFs:  $7.68M
Total Market Capitalization:  $192.00M
% of Market Cap. Held by ETFs:  4.00%
 

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April 12, 2021    10:52 AM Eastern
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Strong Buy (3.50 out of 4)
58th percentile
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