Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Cell Therapeutics (NASDAQ:CTIC), an acquirer and developer of cancer-focused therapies, jumped as much as 22% following a positive final appraisal determination from the National Institute for Health and Care Excellence, or NICE, regarding Pixuvri.
So what: According to Cell Therapeutics' press release, NICE determined that Pixuvri, a treatment for multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma, was deemed cost effective, meaning physicians in the United Kingdom will soon have access to the drug as a third or fourth-line treatment option for patients. Cell Therapeutics anticipates launching Pixuvri in England sometime in the early spring following the publication of the final appraisal determination.
Now what: There's no way to spin this as anything but good news for Cell Therapeutics, but given it's long-winded history of destroying shareholder value you'll forgive me if I don't break out my pompons. Pixuvri alone isn't going to be enough to turn CTI profitable, so it'll still need to work diligently to develop its pipeline of cancer therapies. This is finally a step in the right direction for CTI, but it has a long way to go before being a viable investment opportunity in my eyes.
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Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.
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