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Small-Cap Snapshot: CTI BioPharma shares sink after late-stage trial of its cancer drug disappoints

The Phase 3 trial of its treatment for non-Hodgkin's lymphoma didn't meet the goals of the study
Small-Cap Snapshot: CTI BioPharma shares sink after late-stage trial of its cancer drug disappoints
Shares of the oncology biotech dropped by double digits

CTI BioPharma Corp (NASDAQ:CTIC) shares fell after a disappointing late-stage trial of its cancer drug. The Phase 3 trial of its treatment for non-Hodgkin's lymphoma failed to meet its main goals. The trial included more than 300 patients who had relapsed and were not eligible for stem cell transplant. Shares of the Washington-based biotech fell more than 14% to US$4.47.

Helen of Troy Ltd (NASDAQ:HELE) shares were up following a strong fiscal first quarter. The personal and household products company reported earnings of US$1.87 per share on revenue of US$354.68mln compared with analyst estimates of US$1.46 EPS on revenue of US$333.75mln. Its brand portfolio includes Revlon, Vicks, Dr. Scholl’s and Honeywell. Shares of the Bermuda-based company rose more than 13% to US$115.34 in Monday morning trading.

READ: Helen of Troy stock soars after fiscal 1Q earnings beat Street

Groupon Inc (NASDAQ:GRPN) shares jump after weekend reports that the coupon company was looking for a buyer. The company has allegedly been contacting public companies to see if there was any interest, according to a Recode report. The company has been independently run for the last 10 years. Shares of the Chicago-based company were up nearly 5% to US$4.57.

MabVax Therapeutics Holdings Inc (NASDAQ:MBVX) saw its shares nearly quadruple after news that Boehringer Ingelheim has acquired the rights to its antibody development program in a US$11mln deal. The program targets a chemical compound commonly seen on multiple solid tumor cancers. The clinical-stage biotech focuses on the development of cancer treatments. Shares of the California-based company jumped more than 280% to US$2.25.

 

Contact Lenore Fedow at [email protected]

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