Navigation Links
CTI Receives NASDAQ Letter
Date:9/5/2008

SEATTLE, Sept. 6 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq: CTICD; and MTA: CTIC) announced that today, the Company received a letter from the Listing Qualifications Staff of The NASDAQ Stock Market LLC indicating that the Company is not in compliance with the $50,000,000 minimum market value of listed securities requirement set forth in NASDAQ Marketplace Rule 4450(b)(1)(A). Furthermore, the Company does not comply with NASDAQ Marketplace Rule 4450(b)(1)(B), which is an alternative to Rule 4450(b)(1)(A), and requires total assets and revenue of $50,000,000 each for the most recently completed fiscal year or two of the last three most recently completed fiscal years.

If the Company does not regain compliance by October 6, 2008, the Staff will notify the Company that its securities will be delisted. However, the Company may appeal the Staff's determination to delist its securities to a Listing Qualifications Panel. Alternatively, in the event the Company does not believe that it will be able to regain compliance, the Company intends to apply to transfer its securities to the NASDAQ Capital Market, which would continue to allow trading in the Company's securities.

The Company has been provided 30 calendar days, or until October 6, 2008, to regain compliance. The Staff advises that such compliance can be achieved if, at any time before October 6, 2008, the market value of the listed securities of the Company's common stock is $50,000,000 or more for a minimum of 10 consecutive business days.

About Cell Therapeutics, Inc.

Headquartered in Seattle, CTI is a biopharmaceutical company committed to developing an integrated portfolio of oncology products aimed at making cancer more treatable. For additional information, please visit http://www.CellTherapeutics.com.

Sign up for email alerts and get RSS feeds at our Web site, http://www.CellTherapeutics.com/investors_news.htm

This press release includes forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results. Specifically, the risks and uncertainties that could affect the development of the company's products include risks associated with preclinical and clinical developments in the biopharmaceutical industry in general including, without limitation, the potential failure of a product to prove safe and effective for treatment of a specific condition, determinations by regulatory, patent and administrative governmental authorities, competitive factors, technological developments, costs of developing, producing and selling the product(s), and the risk factors listed or described from time to time in the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's most recent filings on Forms 10-K, 8-K, and 10-Q. Except as may be required by law, CTI does not intend to update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.

Media Contact:

Dan Eramian

T: 206.272.4343

C: 206.854.1200

E: media@ctiseattle.com

http://www.CellTherapeutics.com/media.htm

Investors Contact:

Ed Bell

T: 206.282.7100

Lindsey Jesch

T: 206.272.4347

F: 206.272.4434

E: invest@ctiseattle.com

http://investors.celltherapeutics.com/phoenix.zhtml?c=92775&p=irol-IRHome


'/>"/>
SOURCE Cell Therapeutics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. BioMS Medicals lead drug, dirucotide (MBP8298) for the treatment of multiple sclerosis, receives fast track designation from FDA
2. Repligen Receives Research Grants to Support Friedreichs Ataxia Development Program
3. ESA Receives 2008 Frost & Sullivan North American Technology Innovation Award for Development of Integrated Metabolomics Systems
4. Moffitt Cancer Center Receives Prestigious SPORE Grant Worth More Than $10 Million
5. Barr Receives Approval for Generic Version of Razadyne(R) Tablets
6. Instrumentation Laboratory Receives FDA Clearance to Expand the Intended Use of HemosIL(R) D-Dimer Assay
7. Gleevec Receives FDA Priority Review as First Therapy to Reduce Recurrence of Gastrointestinal Stromal Tumors After Surgery
8. TorreyPines Therapeutics Receives NASDAQ Deficiency Notice
9. Omaxe Infrastructure & Construction Private Ltd Receives LoI for Construction of Allopathic Medical College and Associated Hospital at Saharanpur, UP With Construction Value of Approx 250 Crores
10. Caliper Life Sciences Receives $1.1 Million Task Order from the EPAs ToxCast(TM) Screening Program
11. Biotest Diagnostics Receives FDA Clearance for Full Line of Traditional Blood Bank Reagents
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... Ky. , June 23, 2016 ... two Phase 1 clinical trials of its complement ... placebo-controlled, single and multiple ascending dose studies designed ... pharmacodynamics (PD) of subcutaneous injection in healthy adult ... subcutaneously (SC) either as a single dose (ranging ...
(Date:6/23/2016)... 23, 2016 Andrew ... http://doi.org/10.17925/OHR.2016.12.01.22 Published recently in ... journal from touchONCOLOGY, Andrew D Zelenetz , ... cancer care is placing an increasing burden on ... biologic therapies. With the patents on many biologics ...
(Date:6/23/2016)... , ... June 23, 2016 , ... ... exhibiting at the Pennsylvania Convention Center and will showcase its product’s latest features ... will also be presenting a scientific poster on Disrupting Clinical Trials in The ...
(Date:6/23/2016)... Windsor, Connecticut (PRWEB) , ... June 23, 2016 ... ... will introduce a new line of intelligent tools designed, tuned and optimized exclusively ... place September 12–17 in Chicago. The result of a collaboration among several companies ...
Breaking Biology Technology:
(Date:6/3/2016)... LONDON , June 3, 2016 /PRNewswire/ ... Transport Management) von Nepal ... ,Angebot und Lieferung hochsicherer geprägter Kennzeichen, einschließlich ... weltweit führend in der Produktion und Implementierung ... an der Ausschreibung im Januar teilgenommen, aber ...
(Date:6/1/2016)... YORK , June 1, 2016 ... Technology in Election Administration and Criminal Identification to Boost ... to a recently released TechSci Research report, " Global ... By Region, Competition Forecast and Opportunities, 2011 - 2021", ... 24.8 billion by 2021, on account of growing security ...
(Date:5/12/2016)... 12, 2016 WearablesResearch.com , a brand ... overview results from the Q1 wave of its quarterly ... was consumers, receptivity to a program where they would ... health insurance company. "We were surprised to ... Michael LaColla , CEO of Troubadour Research, "primarily ...
Breaking Biology News(10 mins):