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

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

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


Media Contact:

Cell Therapeutics, Inc.

Dan Eramian

T: 206.272.4343

C: 206.854.1200


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:
(Date:6/27/2016)... 2016  Sequenom, Inc. (NASDAQ: SQNM ), ... through the development of innovative products and services, announced ... United States denied its petition to review ... Sequenom,s U.S. Patent No. 6,258,540 (",540 Patent") are not ... the Supreme Court,s Mayo Collaborative Services v. Prometheus Laboratories ...
(Date:6/27/2016)... ... 27, 2016 , ... Rolf K. Hoffmann, former senior vice ... University of North Carolina Kenan-Flagler Business School effective June 27. , ... with a focus on the school’s international efforts, leading classes and participating in ...
(Date:6/24/2016)... , June 24, 2016 Epic ... sensitively detects cancers susceptible to PARP inhibitors by ... tumor cells (CTCs). The new test has already ... therapeutics in multiple cancer types. Over ... DNA damage response pathways, including PARP, ATM, ATR, ...
(Date:6/23/2016)... ... June 23, 2016 , ... UAS LifeSciences, one of the ... brand, UP4™ Probiotics, into Target stores nationwide. The company, which has been manufacturing ... to its list of well-respected retailers. This list includes such fine stores as ...
Breaking Biology Technology:
(Date:6/16/2016)... 2016 The global ... reach USD 1.83 billion by 2024, according to ... Technological proliferation and increasing demand in commercial buildings, ... drive the market growth.      (Logo: ... development of advanced multimodal techniques for biometric authentication ...
(Date:6/7/2016)... June 7, 2016  Syngrafii Inc. and San ... relationship that includes integrating Syngrafii,s patented LongPen™ eSignature ... This collaboration will result in greater convenience for ... union, while maintaining existing document workflow and compliance ... ...
(Date:6/2/2016)... 2, 2016 Perimeter Surveillance & ... Systems, Physical Infrastructure, Support & Other Service  ... offers comprehensive analysis of the global Border ... generate revenues of $17.98 billion in 2016. ... a leader in software and hardware technologies for advanced ...
Breaking Biology News(10 mins):