Cell Therapeutics, Inc. (CTI) Reports 2008 Fourth Quarter and Year End Financi...(----- -- ------ --- ...)

Date:3/16/2009

----- -- ------ --- Operating expenses, net: Cost of product sold 895 49 3,244 49 Research and development 8,576 21,651 51,614 72,019 Selling, general and administrative 11,081 10,923 41,607 35,517 Amortization of purchased intangibles 118 275 1,658 913 Gain on sale of Zevalin (9,444) - (9,444) - Acquired in- process research and development - 3,272 36 24,615 --- ----- -- ------ Total operating expenses, net 11,226 36,170 88,715 133,113 ------ ------ ------ ------- Loss from operations (8,678) (36,103) (77,283) (132,986) Other income (expense): Investment and other income, net 50 363 549 2,430 Interest expense (1,604) (2,091) (8,559) (8,237) Amortization of debt discount and issuance costs (14,271) (369) (66,530) (4,280) Foreign exchange gain 2,728 1,515 3,637 4,657 Make-whole interest expense (17,731) - (70,243) (2,310) Gain on derivative liabilities, net 13,647 54 69,739 3,672 Loss on exchange of convertible notes (9,223) (972) (25,103) (972) Write-off of financing arrangement costs (485) - (2,846) - Equity loss from investment in joint venture (123) - (123) -
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