Shire wants out of that $172M Bax­al­ta deal with CTI Bio

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. The stock closed at 36 cents to­day.

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