A process for preparing a PANOX fiber comprising: obtaining an acrylonitrile copolymer, wherein the copolymer contains at least about 2% by weight itaconic acid comonomer; forming a spin dope from the copolymer; wet spinning the spin dope to obtain gelled filaments; contacting the gelled filaments with ammonia activator in an aqueous imbibation bath; bundling the gelled filaments to obtain a fiber; removing solvent from the fiber; drawing the fiber; densifying the fiber by heating the fiber up to about 400 degrees C. for a time of about 15 minutes in a rapid densification zone; and withdrawing a PANOX fiber from the densification zone.