SEATTLE, Jan. 28 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq and MTAX: CTIC) announced that in a special meeting today shareholders approved the proxy proposal amending and restating the Company's articles of incorporation to increase the number of authorized shares from 110 million to 210 million and to increase the number of authorized shares of common stock from 100 million to 200 million.
Louis A. Bianco, Chief Financial Officer at CTI, who chaired the meeting, said "The increase in the number of authorized shares of common stock provides CTI with flexibility needed to support the future growth of the business. I'd like to thank all of the shareholders who returned their proxies."
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.cticseattle.com.
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 include risks related to the impact of the increase in
authorized shares of stock and the future business growth of the Company as
well as 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 (and
expressly disclaims any such obligation to) update or alter its
forward-looking statements whether as a result of new information, future
events, or otherwise.
|SOURCE Cell Therapeutics, Inc.|
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