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CTI BioPharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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SEATTLE, March 8, 2021 /PRNewswire/ -- CTI BioPharma Corp. (NASDAQ: CTIC) today announced that the Compensation Committee of its Board of Directors granted equity awards to two new employees with a grant date of March 8, 2021, as equity inducement awards outside of the Company's Amended and Restated 2017 Equity Incentive Plan (but under the terms of the Amended and Restated 2017 Equity Incentive Plan) and material to the employees' acceptance of employment with the company. The equity awards were approved on March 8, 2021, in accordance with Nasdaq Listing Rule 5635(c)(4).

The employees received options to purchase an aggregate of 80,000 shares of CTI BioPharma common stock. The options have an exercise price of $3.07, which is equal to the closing price of CTI BioPharma common stock on March 8, 2021, the grant date of the awards. One-fourth of the options will vest on each anniversary of the employee's date of hire, subject to the employee's continued employment with CTI BioPharma on such vesting dates. The options have a ten-year term.

About CTI BioPharma Corp.
We are a biopharmaceutical company focused on the acquisition, development and commercialization of novel targeted therapies for blood-related cancers that offer a unique benefit to patients and their healthcare providers. We concentrate our efforts on treatments that target blood-related cancers where there is an unmet medical need. In particular, we are focused on evaluating pacritinib, our sole product candidate currently in active late-stage development, for the treatment of adult patients with myelofibrosis. In addition, we have recently started developing pacritinib for use in hospitalized patients with severe COVID-19, in response to the COVID-19 pandemic. We are headquartered in Seattle, Washington.

CTI BioPharma Investor Contacts:
Maeve Conneighton/Maghan Meyers
+212-600-1902
cti@argotpartners.com

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SOURCE CTI BioPharma Corp.

CTI BioPharma Corp

NASDAQ:CTIC

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Pharmaceutical Preparation Manufacturing
Manufacturing
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Health Technology, Pharmaceuticals: Other, Manufacturing, Pharmaceutical Preparation Manufacturing
US
Seattle

About CTIC

cti was founded on the belief that a coalition between unique scientific technology and its strong desire to “do right” by the patient could help us achieve our mission to acquire, develop and bring to market less toxic, more effective therapies to treat and cure cancer. we strive to do business better than other biopharmaceutical companies. better means a more collaborative, well-trained team environment willing to institute novel approaches to scientific discovery and business opportunities. a willingness to push the limits to achieve challenging goals is the essential attribute that sets cti employees apart.