Navigation Links
Cell Therapeutics, Inc. Repays $11.0 million Balance of 2008 Convertible Debt

SEATTLE, June 16 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq and MTA: CTIC) today announced the Company has repaid the remaining balance, including accrued interest, of its 2008 Convertible Notes which reached maturity on June 15, 2008 through a cash payment of approximately $11.0 million. The Company currently has no debt maturing before Q3 2010.

"Retiring this last piece of current debt provides the Company more than 24 months to deliver our sales and product milestones before any additional convertible notes become due," said James A. Bianco, M.D., President and CEO of CTI.

The cash payment for the retirement of the 2008 Convertible Notes is the most recent step taken by the Company to improve its financial position including previously restructuring and retiring other convertible debt and preferred securities as well as recent financings that increased its cash position and institutional investor ownership.

This press-release contains forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect future results. The risks and uncertainties include that the Company continues to have negative cash flow and a significant amount of debt outstanding, redeemable preferred stock outstanding and will need to raise additional capital to fund its operations; as well as other risks listed or described from time to time in the Company's most recent filings with the SEC on Forms 10-K, 8-K and 10-Q. Except as required by law, the Company does not intend to update any of the statements in this press release upon further developments.

Media Contact:

Cell Therapeutics, Inc.

Dan Eramian

T: 206.272.4343

C: 206.854.1200

Lindsey Jesch

T : 206.272.4347

F : 206.272.4434


Investors Contact:

Cell Therapeutics, Inc.

Ed Bell

T: 206.272.4345

F: 206.272.4434


SOURCE Cell Therapeutics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Cell Therapeutics, Inc. Special Meeting in Lieu of Annual Meeting of Shareholders Scheduled for Thursday, June 19, 2008
2. Cell Therapeutics, Inc. Announces Issuance of 2011 Convertible Senior Notes and Common Stock Warrants to a Single Institutional Investor
3. Anesiva and Transcription Factor Therapeutics, Inc. Announce Licensing Agreement for Development and Commercialization of NF-kappa B Clinical Program
4. Cell Therapeutics, Inc. (CTI) to Present at Rodman & Renshaw 5th Annual Global Healthcare Conference
5. Vista Partners Initiates Coverage on Synvista Therapeutics, Inc. (AMEX: SYI)
6. Cell Therapeutics, Inc. (CTI) to Report 2008 First Quarter and Financial Results on May 8
7. Cell Therapeutics, Inc. Sells $64.5 million Units Consisting of Preferred Stock, New 2014 Convertible Senior Notes and Warrants to a Single Institutional Investor
8. CardioVascular BioTherapeutics, Inc. Funding Wound Healing Trial with R&D Partnership
9. CardioVascular BioTherapeutics, Inc. Announces Update on Timing of Form 10-K Filing
10. Cell Therapeutics, Inc. Announces Receipt of Letter From the NASDAQ Stock Market Regarding Non-Compliance With the Minimum Bid Price Requirement
11. Cell Therapeutics, Inc. Announces Filing of Form 10-K
Post Your Comments:
(Date:11/30/2015)... 30, 2015 /PRNewswire/ - Zenith Epigenetics Corp. ("Zenith" or the ... C.W. Wong to its Board of Directors to replace ... with a wealth of experience as co-founder of Resverlogix, with ... --> --> Dr. Wong remarked, ... of directors. Zenith,s long standing expertise in epigenetics and the ...
(Date:11/30/2015)... -- TapImmune, Inc. (TPIV), a clinical-stage ... and gene-based immunotherapeutics and vaccines for the treatment of ... presenting at the 8 th Annual LD Micro ... PT. Dr. John N. Bonfiglio a TapImmune ... presentation and will join TapImmune management in meeting with ...
(Date:11/30/2015)... 2015  Northwest Biotherapeutics (NASDAQ: NWBO ) ("NW ... therapies for solid tumor cancers, announced today that the ... and the Company welcomes Neil Woodford,s call ... anonymous internet report on NW Bio.  The Company,s Board ... Powers stated, "We agree with Mr. Woodford that, ...
(Date:11/27/2015)... , ... November 27, 2015 , ... ... that includes over 2,000 technical presentations offered in symposia, oral sessions, workshops, ... applied spectroscopy, covers a wide range of applications such as, but not limited ...
Breaking Biology Technology:
(Date:11/4/2015)... York , November 4, 2015 ... a new market report published by Transparency Market Research "Home ... Growth, Trends and Forecast 2015 - 2022", the global home ... US$ 30.3 bn by 2022. The market is estimated ... forecast period from 2015 to 2022. Rising security needs ...
(Date:10/29/2015)... RESTON, Va. , Oct. 29, 2015 ... announced today that it has released a new version ... Daon customers in North America ... gains. IdentityX v4.0 also includes a FIDO UAF ... customers are already preparing to activate FIDO features. These ...
(Date:10/29/2015)... , Oct. 29, 2015 Today, ... a partnership with 2XU, a global leader in ... a smart hat with advanced bio-sensing technology. The ... athletes to monitor key biometrics to improve overall ... partnership, the two companies will bring together the most ...
Breaking Biology News(10 mins):