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Originally published June 24, 2013 at 7:36 AM | Page modified June 25, 2013 at 6:19 AM

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Cell Therapeutics shares drop on FDA order

Cell Therapeutics shares fell 12.3 percent early Monday after the company said the Food and Drug Administration ordered it to stop enrolling patients in its clinical trial of a drug candidate for blood-related cancers.

By Seattle Times business staff

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Ironically the article- typical - fails to mention that the ‘12%... MORE
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Cell Therapeutics shares fell 10.7 percent Monday after the Food and Drug Administration ordered it to stop enrolling patients in its clinical trial of a drug candidate for blood-related cancers.

The Seattle biotechnology company said the halt was prompted by the death of a patient from myocarditis, an inflammation of the heart muscle wall. The patient was over 70, and was being treated with the company’s drug Tosedostat in combination with another drug.

The FDA has requested more information on patients and adverse events in the clinical trial. Cell Therapeutics can’t enroll new patients until the agency gives the go-ahead.

Cell Therapeutics stock closed at $1.09 Monday, down 13 cents.

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