Cell Therapeutics, Inc. (CTI) Reports 2008 Fourth Quarter and Year End Financi...(Settlement expense (2594...)

Date:3/16/2009

Settlement expense (2,594) - (3,393) (160) ------ --- ------ ---- Loss before minority interest (38,284) (37,603) (180,155) (138,186) Minority interest in net loss of subsidiary 31 42 126 78 -- -- --- -- Net loss (38,253) (37,561) (180,029) (138,108) Preferred stock beneficial conversion feature - (1,248) (1,067) (9,549) Preferred stock dividends (88) (253) (662) (648) Deemed dividends on conversion of preferred stock (3,000) - (21,149) - ------ --- ------- --- Net loss attributable to common shareholders $(41,341) $(39,062) $(202,907) $(148,305) ======== ======== ========= ========= Basic and diluted net loss per common share $(0.52) $(7.44) $(7.00) $(32.75) ====== ====== ====== ======= Shares used in calculation of basic and diluted net loss per common share (1) 80,074 5,247 28,967 4,529 ====== ===== ====== ===== Balance Sheet Data: (amounts in thousands) December 31, 2008 2007 ---- ---- (unaudited) Cash and cash equivalents, securities available-for-sale and interest receivable $10,680 $18,392 Restricted cash 6,640 - Working capital (14,141) (30,909) Total assets 64,243 73,513 Conve
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