new spec biotech play

Today I bought CTIC $0.34 as a speculative biotech play. Only purchased 2% currently and will add along the way.


"Cell Therapeutics, Inc. (Cell Therapeutics), incorporated in 1991, develops, acquires and commercializes treatments for cancer. The Company’s research, development, acquisition and in-licensing activities concentrate on identifying and developing new, less toxic and effective ways to treat cancer. Cell Therapeutics is developing pixantrone (BBR 2778), a deoxyribonucleic acid (DNA) major groove binder with an aza-anthracenedione molecular structure, differentiating it from anthracycline chemotherapy agents. A new chemical compound for the treatment of non-Hodgkin’s lymphoma (NHL), and various other hematologic malignancies, solid tumors, and immunological disorders, pixantrone is being developed to improve activity and safety in treating cancers treated with the anthracycline family of anti-cancer agents. It is developing OPAXIO (paclitaxel poliglumex), which was previously referred to as XYOTAX, for the treatment of non-small cell lung cancer (NSCLC), and ovarian cancer. It is also developing OPAXIO for women with pre-menopausal levels of estrogen, regardless of age, who have advanced NSCLC with normal or poor performance status.
Pixantrone
Cell Therapeutics has several clinical trials with pixantrone, including a pivotal phase III trial, known as the EXTEND, or PIX301, trial of pixantrone (BBR2778) for the treatment of patients with relapsed aggressive NHL, a condition for which there are no chemotherapy drugs approved in the United States. The Company also conducted the RAPID, or PIX203, phase II study (CHOP-R vs. CPOP-R), in which pixantrone is substituted for doxorubicin in the CHOP-R regimen compared to the standard CHOP-R regimen in patients with aggressive NHL.
OPAXIO
OPAXIO (paclitaxel poliglumex, CT-2103) is the Company’s biologically enhanced chemotherapeutic agent that links paclitaxel to a biodegradable polyglutamate polymer, resulting in a new chemical entity. It is developing OPAXIO for the potential treatment of NSCLC, ovarian and other cancers. OPAXIO was designed to improve the delivery of paclitaxel to tumor tissue while protecting normal tissue from toxic side effects. Taxanes, including paclitaxel (Taxol) and docetaxel (Taxotere), is used for the treatment of various solid tumors, including non-small cell lung, ovarian, breast and prostate cancers. Paclitaxel is considered a standard-of-care in lung and ovarian cancers, where it is used.
Brostallicin
Cell Therapeutics is developing brostallicin, which is a small molecule, chemotherapeutic agent with a unique mechanism of action and composition of matter patent coverage. Data in more than 230 patients treated with brostallicin in phase I/II clinical trials reveal evidence of activity in patients with refractory cancer and patient/physician-friendly dosage and administration. A phase II study of brostallicin in relapsed/refractory soft tissue sarcoma met its pre-defined activity and safety hurdles and resulted in a first-line phase II study that is being conducted by the European Organization for Research and Treatment of Cancer (EORTC). Planned enrollment for this study was completed in August 2008. Brostallicin has also demonstrated synergy with new targeted agents, as well as established treatments in preclinical trials; consequently, it began a multi-arm combination study with brostallicin and other agents, including Avastin (bevacizumab), which was substantially completed during the year ended December 31, 2008.
Zevalin (Ibritumomab Tiuxetan)
Zevalin is a form of cancer therapy called radioimmunotherapy and is indicated for the treatment of patients with relapsed or refractory low-grade or follicular B-cell NHL, including patients with rituximab-refractory follicular NHL. It was approved by the United States Food and Drug Administration (FDA) as the first radioimmunotherapeutic agent for the treatment of NHL. It developed Zevalin from its acquisition of that product line in December 2007 until the transfer of Zevalin to RIT Oncology in December 2008. As of March 9, 2009, the Company was engaged in the process of selling its remaining 50% interest in RIT Oncology to Spectrum.
The Company competes with Bristol-Myers Squibb Co., Sanofi Aventis, Wyeth, Roche, Genentech, OSI Pharmaceuticals, Eli Lilly, Abraxis, Neopharm Inc., Telik Inc., TEVA Pharmaceuticals and PharmaMar."

http://tinyurl.com/dafho6 link for above info from Reuters

the company has filed a NDA (new drug application) to the US FDA for the pixantrone

http://tinyurl.com/cv8bad

I will play this stock on a pure speculative play. Chart seems to show support forming aroun the $0.30 area. It just received a fresh capital injection http://tinyurl.com/cv533v

"The company says it plans to present positive data from a clinical trial of that drug at the American Society of Clinical Oncology’s annual meeting in late May and early June."

Rock on!