During management's presentation, Bianco introduced CTI's strategic platform, which is intended to reduce the risk of current and future cancer drug development. He also reviewed CTI's growth through acquisition initiative, which resulted in the recent acquisition of Systems Medicine and Brostallicin as well as the agreement to acquire Zevalin(R) (ibritumomab tiuxetan) from Biogen IDEC, which is pending closing. Bianco outlined CTI's development plans and upcoming milestones for its pipeline, including XYOTAX(TM) (paclitaxel poliglumex, CT-2103), pixantrone (BBR 2778), and Brostallicin.
"As a result of our recent acquisitions and with our existing pipeline, we have built a powerful, diversified oncology pipeline. This gives us the potential for multiple pivotal and regulatory milestones in 2008 and 2009. We are integrating several components of our strategy, ranging from developing next generation versions of proven effective agents to using cutting edge genomic science to target the right patients for the right drug, which we believe will allow us to manage the risk inherent in cancer drug development," noted Bianco.
"While we anticipate our 2007 net loss to be consistent with the 2006 net loss, we will need to raise additional capital to move our programs forward over the next few years. If we achieve our product pipeline, acquisition, and sales targets, our goal is to break even in 2009 and have a profitable operating company by 2010," Bianco added. For more information on CTI's strategy and development pipeline or to see the archived presentation, please visit our Web site at http://www.cticseattle.com.
About Cell Therapeutics, Inc.
Headquartered in Seattle, CTI is a biopharmaceutical company committed
|SOURCE Cell Therapeutics, Inc.|
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