Earnings Briefing - CTI BioPharma

LONDON, April 9, 2015 /PRNewswire/ --

Editor Note: For more information about this release, please scroll to bottom.

Investor-Edge.com has issued free earnings report on CTI BioPharma Corp. (NASDAQ: CTIC). On March 12, 2015, the company reported its financial results for Q4 FY14 and full-year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=CTI%20BioPharma&d=09-Apr-2015&s=CTIC to read our free earnings review on CTI BioPharma Corp. (CTI BioPharma). During Q4 FY14 and FY14, the company's total revenues were $17.79 million and $60.08 million, respectively. President and CEO of CTI BioPharma, James A. Bianco, M.D., stated that in FY14 the company successfully accomplished various key objectives, from achieving reimbursement in England/Wales and securing a development and commercialization collaboration for PIXUVRI®, to pacritinib receiving Fast Track designation by the U.S. FDA and reporting on data highlighting pacritinib's potential therapeutic utility in blood-related cancer indications beyond myelofibrosis. Our free coverage report can be accessed at:

http://get.Investor-Edge.com/pdf/?c=CTI%20BioPharma&d=09-Apr-2015&s=CTIC

Earnings Overview 

During Q4 FY14, CTI BioPharma's total revenues declined $15.10 million from $32.88 million in Q4 FY13. The company's total revenues outperformed Bloomberg analysts' forecasts of $2.48 million in Q4 FY14. The company's license and contract revenue fell to $15.32 million in Q4 FY14 from $32.36 million in Q4 FY13. However, CTI BioPharma's net product sales increased to $2.47 million in Q4 FY14 from $520,000 in Q4 FY13. Free research on CTIC can be downloaded in PDF format at:

http://get.Investor-Edge.com/pdf/?c=CTI%20BioPharma&d=09-Apr-2015&s=CTIC

For Q4 FY14, CTI BioPharma's GAAP loss from operations was $39.37 million compared to GAAP income from operations of $10.33 million in Q4 FY13. Further, the company's non-GAAP loss from operations came in at $36.20 million in Q4 FY14 compared to non-GAAP income from operations of $13.08 million in Q4 FY13. Net loss attributable to CTI BioPharma's common shareholders was $44.19 million, or $0.27 loss per diluted share, in Q4 FY14 compared to net income attributable to CTI BioPharma's common shareholders of $10.20 million, or $0.08 per diluted share, in Q4 FY13. Analysts from Bloomberg had expected the company to report net loss attributable to CTI BioPharma's common shareholder of $30.60 million, or $0.18 loss per diluted share, in Q4 FY14.

During FY14, CTI BioPharma's total revenues increased by $25.40 million from $34.68 million in FY13. The company's total revenues for FY14 outperformed Bloomberg analysts' forecasts of $44.50 million. License and contract revenue grew to $53.17 million in FY14 from $32.36 million in FY13. Moreover, CTI BioPharma's net product sales rose to $6.91 million in FY14 from $2.31 million in FY13.

In FY14, CTI BioPharma's GAAP loss from operations came in at $86.23 million compared to GAAP loss from operations of $41.53 million in FY13. Moreover, the company's non-GAAP loss from operations stood at $66.03 million in FY14 compared to non-GAAP loss from operations of $32.46 million in FY13. Net loss attributable to CTI BioPharma's common shareholders was $95.99 million, or $0.65 loss per diluted share, in FY14 compared to net loss attributable to CTI BioPharma's common shareholders of $49.64 million, or $0.43 loss per diluted share, in FY13. For FY14, analysts from Bloomberg had expected net loss attributable to CTI BioPharma's common shareholders of $82.40 million, or $0.55 loss per diluted share. Sign up and read the free analyst's notes on CTIC at:

http://get.Investor-Edge.com/pdf/?c=CTI%20BioPharma&d=09-Apr-2015&s=CTIC

As of December 31, 2014, CTI BioPharma had cash and cash equivalents of $70.93 million compared to cash and cash equivalents of $71.64 million as of December 31, 2013.

In its outlook for full-year FY15, CTI BioPharma expects non-GAAP operating loss (which excludes non-cash share-based compensation expense) to be approximately $75 million to $85 million on total revenues of approximately $50 million to $55 million.

Stock Performance  

On the day following the earnings release, March 13, 2015, CTI BioPharma's stock plummeted 24.23% to end the session at $1.97. Since then, the company's stock has witnessed a mixed momentum. On the last close, Wednesday, April 08, 2015, CTI BioPharma's shares finished 1.04% higher at $1.94. The company's shares vacillated between $1.90 and $2.01 during the session. A total of 3.48 million shares were traded which was below their three months average volume of 3.61 million shares. The stock has advanced 1.84% in the previous three trading sessions. However, over the last one month and over the past three months, the company's shares have declined 26.79% and 17.80%, respectively. Shares in CTI BioPharma closed below their 50-day and 200-day moving averages of $2.20 and $2.40, respectively. Visit Investor-Edge and access the latest research on CTIC at:

http://get.Investor-Edge.com/pdf/?c=CTI%20BioPharma&d=09-Apr-2015&s=CTIC

Sneak Peek to Corporate Insider Trading 

In the last one month, there were 38 corporate insider transactions done by 4 individuals. Between March 20, 2015 and April 06, 2015, a total of 614,449 shares were sold at an average price of $1.94 per share and for a total value of $1.19 million. The following are some of the abovementioned transactions: James A. Bianco disposed 187,660 shares at an average price of $1.95 per share; Jack W. Singer, Executive Vice President, Global Medical Affairs and Translational Medicine at CTI BioPharma, and Matthew J. Plunkett, Executive Vice President, Corporate Development at CTI BioPharma, sold 161,570 and 135,483 shares, respectively, at an average price of $1.94 per share. Complimentary in-depth research on CTIC is available at:

http://get.Investor-Edge.com/pdf/?c=CTI%20BioPharma&d=09-Apr-2015&s=CTIC

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