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Cell Therapeutics Inc. (NASDAQ: CTIC) caught a boost this morning after the U.S. Food & Drug Administration (FDA) accepted its new drug application for pixantrone, an experimental drug for the treatment of relapsed, aggressive non-Hodgkin's lymphoma. The FDA's action date for review of pixantrone will be set by Sept. 4.
CTIC surged more than 6% out of the gate this morning, tagging a session high of $1.80, but the low-priced shares have since whittled their gains. The equity, which has rallied 1,107.1% year-to-date, is currently trading sideways between support at its 10-week moving average and resistance near the $2 level.
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