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CTI BioPharma Corp. Restructures

Workforce reductions have been implemented that impact approximately 50 percent of the company's employees

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By: Kristin Brooks

Managing Editor, Contract Pharma

CTI BioPharma Corp. is restructuring in an effort to improve efficiencies and reduce costs. As part of the plan, workforce reductions have been implemented that impact approximately 50 percent of the total number of the company’s employees. Cost savings of approximately $20 million primarily associated with reduced employee costs are expected over three years.  
 
The company is developing Pacritinib in Myelofibrosis and PIXUVRI in non-Hodgkin lymphoma. CTI plans to provide financial guidance in the first half of 2019 when details of the U.S. Phase III trial design, including trial size and dosing schedule, have been determined.

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