Cell Therapeutics stock was up after positive results from 91 percent target achievement rate was reported in the August issue of the American Journal of Clinical Oncology. Twelve patients with esophageal or gastric cancer has been tested with the cancer drug Xyotax.
Dr. Howard Safran of Brown University says that Xyotax may “replace paclitaxel as the most important radiation sensitizer in solid tumors”. If this is true, we may see a future without the need for or less side effects from chemotherapy drugs.
CTIC closed $1.61 on Thursday 24 August 2006.
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Cell Therapeutics (CTIC) has entered a financing agreement with Societe Generale Group for the French bank to buy $55M new shares to trade on the Italian stock exchange.
Societe Generale Group will have the option to purchase an additional $17M over the next 24 months.
CTIC is a biotechnology company that develops drugs to combat cancer and related conditions. It’s flagship product, XYOTAX, is undergoing trails for approval and sale.
Source: The Associated Press
Technorati Tags: cell therapeutics, societe generale group, shares, biotechnology, xyotax, market, financing agreement