San Diego, CA -- (SBWIRE) -- 02/29/2016 -- A shareholder in CTI BioPharma Corp (NASDAQ:CTIC) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged Securities Laws violations by CTI BioPharma Corp.

Investors who purchased CTI BioPharma Corp (NASDAQ:CTIC) securities have certain options and for certain investors are short and strict deadlines running. Deadline: April 11, 2016. NASDAQ:CTIC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges on behalf of investors who purchased or otherwise acquired CTI BioPharma Corp (NASDAQ:CTIC) securities pursuant and/or traceable to the Company's Registration Statement and Prospectus (collectively, the "Registration Statement") issued in connection with the Company's public offering on or about September 24, 2015 (the "Offering"); and/or (2) between March 4, 2014 and February 9, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Defendants made false and/or misleading statements and/or failed to disclose that the detrimental effect on survival of pacritinib, that the Company's clinical trials demonstrated deaths associated with pacritinib usage, that the Company's new drug application for pacritinib would likely be withdrawn, that, as such, the Company's future revenues were impaired, that the company lacked adequate internal controls, and that, as a result of the foregoing, the Company's financial statements and Defendants' statements about CTI Biopharma's business, operations, and prospects, were materially false and misleading at all relevant times.

On February 8, 2016, CTI BioPharma Corp (NASDAQ:CTIC) announced that the Company received written communication from the U.S. Food and Drug Administration (FDA) on February 4, 2016, that the FDA has placed a partial clinical hold on the clinical studies being conducted under the Company's Investigational New Drug ("IND") application for pacritinib. CTI BioPharma Corp said that this clinical hold impacts part of the clinical work currently being conducted under the IND and will also affect planned clinical trials.

On February 9, 2016 CTI BioPharma Corp (NASDAQ:CTIC) provided an update regarding the clinical studies being conducted under the Company's Investigational New Drug ("IND") application for pacritinib.

CTI BioPharma Corp said that it received an oral communication from the FDA followed by a letter notifying the Company that the Company's IND for pacritinib has been placed on full clinical hold and that it has withdrawn its New Drug Application (NDA) until the Company has had a chance to review the safety and efficacy data from the PERSIST-2 Phase 3 clinical trial and decide next steps. Shares of CTI BioPharma Corp (NASDAQ:CTIC) declined to as low as $0.25 per share on February 10, 2016.

Those who purchased shares of CTI BioPharma Corp (NASDAQ:CTIC) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com