[April 06, 2016]

April 11 Deadline Alert: GPM Reminds Investors of the Upcoming Lead Plaintiff Deadline in the Class Action Lawsuit against CTI BioPharma Corp. and Encourages Investors to Contact the Firm

Glancy Prongay & Murray LLP ("GPM") reminds investors of the upcoming April 11, 2016 deadline to file a lead plaintiff motion in the class action filed by GPM on behalf of a class (the "Class") of investors who purchased or otherwise acquired CTI (News - Alert) BioPharma Corp. ("CTI BioPharma" or the "Company") (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, inclusive (the "Class Period). Investors who suffered losses over $50,000 on their investment in CTI BioPharma securities are encouraged to contact GPM to discuss their legal rights in this class action.

The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about th Company's business, operations, and prospects; including that the Company's primary product, pacritinib had adverse effects on patients that would likely inhibit FDA approval of the drug. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) the detrimental effect on survival of pacritinib; (2) that the Company's clinical trials demonstrated deaths associated with pacritinib usage; (3) that the Company's new drug application for pacritinib would likely be withdrawn; (4) that, as such, the Company's future revenues were impaired; (5) that the company lacked adequate internal controls; and (6) that, as a result of the foregoing, the Company's financial statements and Defendants' statements about CTI's business, operations, and prospects, were materially false and misleading at all relevant times. Upon disclosure of the FDA hold on the Company's clinical trial of pacritinib, and the subsequent withdrawal of the Company's NDA, the Company's shares fell sharply in value thereby damaging investors.

If you purchased CTI BioPharma shares, you may move the Court no later than April 11, 2016 to request appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by e-mail to [email protected], or visit our website at http://www.glancylaw.com. If you inquire by e-mail please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160406005377/en/

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