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Cell Therapeutics, Inc. (CTI) Reports First Quarter Financial Results and Milestones
Date:4/20/2012

operating expenses continue to exceed its net revenues, that CTI may not be able to further reduce its operating expenses, that CTI will continue to need to raise capital to fund its operating expenses and may not be able to raise sufficient amounts to fund its continued operation as well as other risks listed or described from time to time in CTI's most recent filings with the Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K. Except as required by law, CTI does not intend to update any of the statements in this press release upon further developments.

Media Contact:Dan Eramian
T: 206.272.4343
C: 206.854.1200
F: 206.272.4434
E: deramian@ctiseattle.com
www.celltherapeutics.com/media.htm

Investors Contact:Ed Bell
T: 206.282.7100
Lindsey Jesch Logan
T: 206.272.4347
F: 206.272.4434
E: invest@ctiseattle.com
www.celltherapeutics.com/investors Cell Therapeutics, Inc.Condensed Consolidated Statements of Operations(In thousands, except for per share amounts)(unaudited)Three Months EndedMarch 31,20122011Operating expenses:Research and development$
8,170$
,494Selling, general and administrative9,9288,576  Total operating expenses18,09820,070Loss from operations(18,098)(20,070)Other income (expense):Investment and other income, net24063Interest expense(55)(389)Amortization of debt discount and issuance costs-(167)Foreign exchange gain384759Net loss before noncontrolling interest(17,529)(19,804)Noncontrolling interest8370Net loss attributable to CTI(17,446)(19,734)Dividends and deemed dividends on preferred stock-(31,283)Net loss attributable to CTI common shareholders$
(17,446)$
(51,017)Basic and diluted net loss per common share $
(0.09)$
(0.35)Shares used in calculation of basic
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SOURCE Cell Therapeutics, Inc.
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