CTI BioPharma posts $52 million net loss, $70 million less compared to 2016

CTI BioPharma has reported neto loss of $6.4 million for the fourth quarter 2016. Net loss has decreased comparing the same period last year when the company reported net loss of $28.8 million. As for the full year, the company has reported net loss of $52.0 million, which is also decrease comparing last years loss of $122.6 million.

The company said that the decrease in net loss for the fourth quarter and the year ended December 31, 2016, compared to the periods in 2015 is primarily due to increased net product sales and license and contract revenue and decrease in operating expenses.