CTI BioPharma Corp (Nasdaq: CTIC), a biopharmaceutical company, has reported its financial results for the six months ended 30 June 2020 on Thursday.

The company's revenues were not recognised for the six months ended 30 June 2020 compared to revenues of USD1.1m in the year-ago period.

The firm posted net loss for six months ended 30 June 2020 at USD26.2m compared to a net loss of USD21.8m in the year-ago period.

The company reported USD0.38 basic and diluted loss per share in the six months ended 30 June 2020 compared to USD0.38 for basic and diluted loss per share in the year-ago period.

Adam R Craig, MD, PhD commented, 'This past quarter we announced enrolment of the first patient in our PRE-VENT Phase 3 clinical trial of pacritinib in hospitalised patients with severe COVID-19, an important step for CTI as we work to provide a new therapeutic option for COVID-19 patients. With regards to the PACIFICA Phase 3 trial, we continue to enrol patients but the enrolment rate is lower than planned due to the COVID-19 pandemic and we now anticipate at least a six-month delay in the trial. However, given our cash runway into Q4 2021, we remain confident in our ability to successfully execute on the development of pacritinib for the treatment of severely thrombocytopenic myelofibrosis patients."