SEATTLE, Sept. 22, 2016 /PRNewswire/ -- CTI
BioPharma Corp. (CTI BioPharma) (NASDAQ and MTA:CTIC) today
announced that on September 20, 2016,
the NASDAQ Listing Qualifications staff granted the Company an
additional 180 calendar day period, or until March 20, 2017, to regain compliance with the
Minimum Bid Price Rule. To do so, the bid price of the Company's
common stock must close at or above $1.00 per share for a minimum of 10 consecutive
trading days prior to that date.
About CTI BioPharma
CTI BioPharma Corp. is a biopharmaceutical company focused on
the acquisition, development and commercialization of novel
targeted therapies covering a spectrum of blood-related cancers
that offer a unique benefit to patients and healthcare providers.
CTI BioPharma has a commercial presence in Europe with respect to PIXUVRI® and
a late-stage development pipeline, including pacritinib for the
treatment of patients with myelofibrosis. CTI BioPharma is
headquartered in Seattle,
Washington, with offices in London and Milan under the name CTI Life Sciences
Limited. For additional information and to sign up for email alerts
and get RSS feeds, please visit www.ctibiopharma.com.
Forward-Looking Statements
This press release includes forward-looking statements that
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 Company's securities. Specifically, the
risks and uncertainties include the Company's ability to regain
compliance with the NASDAQ minimum closing bid price requirement
between now and March 20, 2017, the
risk that in the event the Company is unable to comply with the
minimum bid price prior to March 20,
2017 that the Company may not be able to take other actions
to regain compliance with the NASDAQ minimum closing bid price
requirement, the Company's ability to maintain compliance with
other NASDAQ listing requirements, and the risk factors listed or
described from time to time in the Company's filings with the
Securities and Exchange Commission, including, without limitation,
the Company's most recent filings on Forms 10-K, 10-Q and 8-K. The
Company can give no assurances that any results or events projected
or contemplated by its forward-looking statements will in fact
occur and the Company cautions you not to place undue reliance on
these statements. The Company undertakes no duty to update these
forward-looking statements to reflect any future events,
developments or otherwise.
CTI BioPharma Contacts:
Monique Greer
+1 206-272-4343
mgreer@ctibiopharma.com
Ed Bell
+1 206-272-4345
ebell@ctibiopharma.com
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SOURCE CTI BioPharma Corp.