SEC Filing Reveals Shire is Ready to Punt $172 Million Baxalta Deal With CTI BioPharma

A few weeks after Seattle-based CTI Biopharma’s $CTIC troubled myelofibrosis drug pacritinib turned in some mixed late-stage data, Shire is preparing to punt its interest in the therapy.

Pacritinib was put on a full clinical hold by the FDA earlier in the year after investigators determined that patients in the drug arm were dying at a faster pace than the control group. That helped sink the biotech’s stock, which is now firmly entrenched in penny stock territory.

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