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Latest Reports on Recent Market Movers: 3D Systems and CTI BioPharma

NEW YORK, NY / ACCESSWIRE / January 10, 2017 / The Dow Jones Industrial Average pulled back Monday after nearly breaking the 20,000 point plateau Friday. Declines by financial and energy sectors pressured the Index lower. On Monday, the Dow declined 0.38 percent to close at 19,887.38, in its previous session the Dow touched a high of 19,999.63. "Our view about the Dow (hitting) 20,000 is not a matter of if, but a matter of when," said Matt Jones, U.S. head of equity strategy at J.P. Morgan Private Bank in New York. Today's reports on 3D Systems Corporation (NYSE: DDD) and CTI BioPharma Corp. (NASDAQ: CTIC).

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The NASDAQ Composite Index gained 0.19 percent to close at 5,531.82. The NASDAQ hit a new all-time high of 5,541.08 during Monday's session. The iShares NASDAQ Biotechnology Index ETF gained 1.43 percent as healthcare stocks helped pushed the Index higher. On Monday, 46 companies/listed funds on the NASDAQ hit a new 52-week high, while 11 hit 52-week lows.

RDInvesting Takes a Closer Look at Monday's Top Movers

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3D Systems' shares spiked 15.70 percent to close at $16.73 a share Monday. The stock traded between $14.32 and $16.94 on volume of 13.62 million shares traded. Large corporations like GE and HP are venturing into the 3D printing segment aggressively. In 2016, GE spent $1.4 billion to acquire two European metal 3D companies, Arcam AB and SLM Solutions Group and this according to analysts, may force 3D Systems to decide on continuing investing in R&D to develop its own platform, merging its business with other players, or exiting the metal 3D segment altogether.

3D Systems reported revenues were $467.0 million for the first nine months of 2016, a decrease of 3 percent when compared to revenues of $482.8 million in the first nine months of 2015. The company reported a GAAP loss of $0.39 per share for the first nine months of 2016 compared to a loss of $0.53 per share in the comparable period a year ago.

Get Your Up-To-Date CTI BioPharma Research Report Here

CTI BioPharma's shares surged 20.42 percent to close at $5.78 a share Monday. The stock traded between $4.95 and $6.48 on volume of 2.16 million shares traded. CTI BioPharma's shared jumped higher after the company released an encouraging business and progress report for 2017, on January 9th. The market has witnessed continuous gain in the company's stock since January 5th, when CTI BioPharma announced the U.S. Food and Drug Administration (FDA) removed the full clinical hold on studies being conducted under the Investigational New Drug (IND) application for pacritinib.

"Throughout 2016 we maintained our commitment to bringing new therapies to patients with unmet medical needs, and were successful in working with the FDA to remove the full clinical hold on pacritinib and get it back on the development track for the benefit of myelofibrosis patients," Richard Love, Interim President and Chief Executive Officer of CTI BioPharma said on January 9th. "The PERSIST-2 clinical trial of pacritinib was highlighted as one of six late-breaking data presentations at the American Society of Hematology conference in December. We believe this oral presentation was well received by the hematology/oncology community, which recognizes the unmet need for myelofibrosis patients who are ineligible to receive or are not benefitting from the approved JAK1/JAK2 inhibitor, ruxolitinib."

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