Cell Therapeutics initiates a phase 3 trial for pacritinib
Meanwhile, Cell Therapeutics (NASDAQ: CTIC ) just announced the initiation of a phase 3 trial to test pacritinib, an investigational JAK2/FLT3 inhibitor, in patients with myelofibrosis, a bone marrow disorder that affects blood cell production.
The new trial, known as PERSIST-2, will enroll up to 300 patients in Australia, Europe, New Zealand, and North America within the next 12 to 14 months. PERSIST-2 is the second phase 3 trial testing pacritinib as a myelofibrosis treatment.
Cell (NASDAQ: CTIC ) also has two other drugs in phase 3 trials or on the market -- Pixuvri, a treatment for non-Hodgkin's lymphoma (NHL), and Opaxio, an experimental treatment for brain and ovarian cancers. Pixuvri, which is conditionally approved in the EU, is Cell's only marketed product, and generated sales of $1.8 million in the first three quarters of fiscal 2013.
Cell (NASDAQ: CTIC ) expects Pixuvri to eventually generate peak sales of $240 million based on the EU approval alone. Sales of pacritinib are expected to achieve peak sales of $750 million, according to Roth Capital Partners analyst Bert Hazlett, if the drug is approved for myelofibrosis along with other blood disorders. If approved, pacritinib will be jointly commercialized with Baxter International.
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