Navigation Links
Cell Therapeutics, Inc. Announces Receipt of Letter From the NASDAQ Stock Market Regarding Non-Compliance With the Minimum Bid Price Requirement
Date:4/18/2008

SEATTLE, April 18 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq and MTAX: CTIC) today announced that on April 16, 2008 it received a letter from The NASDAQ Stock Market indicating that for the last 30 consecutive business days the bid price of its common stock has closed below the minimum $1.00 per share requirement for continued inclusion under Marketplace Rule 4450(a)(5). This notification has no immediate effect on the listing of or the ability to trade CTI's common stock on The NASDAQ Global Market.

In accordance with Marketplace Rule 4450(e)(2), CTI has been provided 180 calendar days, or until October 13, 2008, to regain compliance. The Company will achieve compliance if the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of ten consecutive business days before October 13, 2008. If CTI does not regain compliance by October 13, 2008, it may have the option to transfer its securities to The NASDAQ Capital Market if it can demonstrate as of that date that it meets the criteria for initial listing on this market set forth in Marketplace Rule 4310(c) (other than the bid price requirement). If such application is approved, CTI would have an additional 180 days to regain compliance while on The NASDAQ Capital Market.

CTI intends to actively monitor the bid price for its common stock between now and October 13, 2008, and will consider available options to resolve the deficiency and regain compliance with the NASDAQ minimum closing bid price requirement.

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.CellTherapeutics.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 statements about events or developments that may affect the Company's stock price, the Company's ability to maintain compliance with other listing requirements between now and October 13, 2008; the risk that NASDAQ exercises its discretion to require that the Company maintain a bid price of at least $1.00 per share for a period in excess of 10 days, the risk that in the event the Company is unable to comply with the minimum bid price prior to October 13, 2008, it may not meet the other criteria required to transfer its listing to the NASDAQ Capital Market and other 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 filing on Forms 10-K. Except as may be required by law, CTI does not intend to update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.

Investors Contact:

Cell Therapeutics, Inc.

Leah Grant

T: 206.282.7100

F: 206.272.4434

E: invest@ctiseattle.com

http://www.CellTherapeutics.com/investors.htm

Media Contact:

Cell Therapeutics, Inc.

Dan Eramian

T: 206.272.4343

C: 206.854.1200

E: media@ctiseattle.com

http://www.CellTherapeutics.com/media.htm


'/>"/>
SOURCE Cell Therapeutics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Cell Therapeutics, Inc. Announces Filing of Form 10-K
2. Blake M. Paterson MD, CEO and Co-founder of Alba Therapeutics, Wins Greater Baltimore Committee 2008 Leadership in Bioscience Award
3. Cell Therapeutics, Inc. (CTI) Invest Northwest Presentation to be Webcast
4. Mercury Therapeutics, Inc: Marquant Appointed to Advise on Strategic and Partnering Opportunities
5. Mercury Therapeutics, Inc: Lead Series of Indirect AMPK Activators Licensed to Makoto Life Sciences
6. Cell Therapeutics, Inc. (CTI) to Present at 7th Annual WBBA Invest Northwest Conference
7. Cell Therapeutics, Inc. (CTI) to Report Fourth Quarter and Year-End Financial Results on March 13
8. Cell Therapeutics, Inc. to Hold Conference Call to Update on Recent Transactions and Upcoming Milestones
9. M. Scott Harris, M.D., Joins Ocera Therapeutics, Inc., as Chief Medical Officer
10. Cell Therapeutics, Inc. (CTI) Announces Cancellation of Approximately $9.1 Million of Existing Notes due 2008
11. Mersana Therapeutics, Inc. Appoints Chief Scientific Officer, Timothy B. Lowinger, Ph.D.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/25/2016)... ... 25, 2016 , ... Biohaven Pharmaceutical Holding Company Ltd. (Biohaven) ... company’s orphan drug designation request covering BHV-4157 for the treatment of Spinocerebellar Ataxia ... , Spinocerebellar ataxia is a rare, debilitating neurodegenerative disorder that is estimated ...
(Date:5/24/2016)... ... May 24, 2016 , ... Media Cybernetics, global image ... Cybernetics corporate branding reflects a results-driven revitalization for a company with a renewed ... components include a crisp, refreshed logo and a new web presence. , “I ...
(Date:5/23/2016)... 2016 Oxitec CEO Hadyn Parry ... 10:15 a.m. ET before the United States House Committee on ... can play in controlling the spread of the Aedes ...      (Logo: http://photos.prnewswire.com/prnh/20150630/227348 ) ... self-limiting gene. Trials in Brazil , ...
(Date:5/22/2016)... ... , ... Doctors in Rome say micronutrients found in certain foods have the ... has just posted an article on the new research. Click here to read ... and Translational Medicine evaluated more than 150 studies on polyphenols in cancer for their ...
Breaking Biology Technology:
(Date:3/15/2016)... 15, 2016 --> ... Transparency Market Research "Digital Door Lock Systems Market - Global ... 2023," the global digital door lock systems market in terms ... and is forecast to grow at a CAGR of 31.8% ... and medium enterprises (MSMEs) across the world and high industrial ...
(Date:3/14/2016)... March 14, 2016 http://www.apimages.com ... --> - Renvoi : image disponible via ... --> --> DERMALOG, le ... de nouveaux lecteurs d,empreintes digitales pour l,enregistrement des ... sera utilisé pour produire des cartes d,identité aux ...
(Date:3/10/2016)... -- --> --> ... Access Management Market by Component (Provisioning, Directory Services, Password ... Size, by Deployment, by Vertical, and by Region - ... is estimated to grow from USD 7.20 Billion in ... Compound Annual Growth Rate (CAGR) of 12.2% during the ...
Breaking Biology News(10 mins):