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Why CTI BioPharma Stock Is Plunging Today

·1 min read
Why CTI BioPharma Stock Is Plunging Today
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  • CTIC

Shares of CTI BioPharma (NASDAQ: CTIC) had plunged 21.4% as of 12:23 p.m. ET on Wednesday. The steep decline came after the company announced that the U.S. Food and Drug Administration (FDA) extended the review period for an approval decision of pacritinib in treating myelofibrosis. The FDA pushed back the review period for pacritinib by three months.