Navigation Links
Cell Therapeutics, Inc. Repays $11.0 million Balance of 2008 Convertible Debt
Date:6/15/2008

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

E: media@ctiseattle.com

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

Investors Contact:

Cell Therapeutics, Inc.

Ed Bell

T: 206.272.4345

F: 206.272.4434

E: invest@ctiseattle.com

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


'/>"/>
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:
*Name:
*Comment:
*Email:
(Date:6/22/2017)... ... June 22, 2017 , ... For the months ... produced a Spotlight series on “Cell Therapy Regulation” for its regenerative ... experts on the unique regulatory challenges of stem cell medical research. , Stem ...
(Date:6/22/2017)... ... June 22, 2017 , ... RURO, Inc., a ... version 6.5, a content-packed update to the Limfinity® framework. , LimitLIS® and other ... more diverse base of customers among labs and other businesses. Limfinity® 6.5 adds ...
(Date:6/20/2017)... ... June 20, 2017 , ... Biologist Dawn Maslar MS has found ... latest book, Men Chase, Women Choose: The Neuroscience of Meeting, Dating, Losing Your Mind, ... effect on men. ”The logical next step, in my estimation, was to scientifically track ...
(Date:6/20/2017)... ... June 20, 2017 , ... ... PhD, a well-versed leader with extensive assay development and biomarker expertise, as VP ... is a Boston CRO specializing in bio-analytical assay development and sample testing services. ...
Breaking Biology Technology:
(Date:3/30/2017)... 30, 2017 The research team of The ... (3D) fingerprint identification by adopting ground breaking 3D fingerprint minutiae recovery ... of speed and accuracy for use in identification, crime investigation, immigration ... ... A research team ...
(Date:3/24/2017)... The Controller General of Immigration from Maldives Mr. Mohamed Anwar ... prestigious international IAIR Award for the most innovative high security ePassport and ... ... Maldives Immigration Controller General, Mr. Mohamed ... the right) have received the IAIR award for the "Most innovative high ...
(Date:3/22/2017)... 21, 2017 Optimove , provider ... retailers such as 1-800-Flowers and AdoreMe, today announced ... and Replenishment. Using Optimove,s machine learning algorithms, these ... and replenishment recommendations to their customers based not ... of customer intent drawn from a complex web ...
Breaking Biology News(10 mins):