CTI BioPharma up on launch of pacritinib study in COVID-19

Thinly traded nano cap CTI BioPharma (CTIC +24.7%) is up on more than a 7x surge in volume in reaction to the initiation of a Phase 3 clinical trial, PRE-VENT, evaluating pacritinib added to standard-of-care (SOC) treatment in 358 hospitalized severely ill COVID-19 patients.

The primary endpoint is the proportion of patients who die or progress to mechanical ventilation and/or extracorporeal (outside of the body) membrane oxygenation at day 28 compared to placebo + SOC.

Enrollment at sites in the U.S. and Europe should begin in May.

Pacritinib is an oral kinase inhibitor with specificity for certain enzymes (JAK2, IRAK1 and CSF1R) that play key roles in inflammatory cytokine expression and immune responses.

https://seekingalpha.com/news/3564709-cti-biopharma-up-25-on-launch-of-pacritinib-study-in-covidminus-19