Shares of Cell Therapeutics, Inc. (NASDAQ:CTIC) went straight up on Monday, on word of the licensing terms through which Novartis AG (NYSE:NVS) would be allowed to develop and commercialize Cell’s Pixuvri cancer drug, which was recently okayed by the European Commission. If Novartis elects to exercise its option on Pixuvri, it would owe Cell $7.5 million for a license fee, as much as $104 million in milestone payments, plus ongoing royalties.
Now they just have to pay about 70M. market price of CTIC. A discount price plus 3 other products in phase 3.
This stock could close today at 1.28 instead of 1.25. On 19.11, it could close at 1.27 instead of 1.23. On the last minute someone sold-out, tried to keep the price as low as possible. Reasons? Someone want to buy at cheap price as much as possible before he knows it will definitive up.