(Reuters) ? Cell Therapeutics Inc said on Monday it has voluntarily withdrawn the marketing application for its cancer drug, sending its shares down 17 percent before the bell.
The company said it withdrew the application as it needed additional time to prepare for the review of the drug, Pixuvri, designed as a treatment for relapsed or refractory aggressive non-Hodgkin's lymphoma in patients who failed two or more lines of prior therapy.
Cell Therapeutics said it had requested the U.S. Food and Drug Administration to reschedule the drug's review date prior to the withdrawal, but the health regulator was unable to accommodate the request.
The company plans to resubmit the application later this year.
Shares of the Seattle-based company were down 17 percent at $1.13 in premarket trade. They closed at $1.33 on Friday on the Nasdaq.
(Reporting by Kavyanjali Kaushik in Bangalore; Editing by Supriya Kurane)
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