Lymphoma drug pixantrone, made by Cell Therapeutics (CTIC),
is facing tough questions from the Food and Drug Administration.

The experimental drug went under the microscope following an agency staff review that raised questions about the effectiveness
of the drug, along with its side effects.

The company hopes to sell the drug under the brand name Pixuvri, and expects to use it to treat non-Hodgkin’s lymphoma
once the disease no longer responds to other conventional forms of treatment.

The FDA’s oncology advisory panel is set to meet on Wednesday. The organization usually follows the advice the panel offers.

The shares plunged 40% Monday to 64 cents.