Navigation Links
Cell Therapeutics, Inc. Takes Corrective Actions in Response to Nasdaq Determination
Date:8/28/2007

SEATTLE, Aug. 28 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq and MTAX: CTIC) today announced that it had received a Deficiency Letter (the "Letter") from Nasdaq indicating that the Company's recently completed registered offering of Series C 3% Convertible Preferred Stock (the "Series C Preferred") and warrants did not comply with voting rights requirements set forth in Nasdaq Marketplace Rule 4351 and IM 4351. The Nasdaq staff verbally notified the Company of such noncompliance on August 9, 2007 and, in response to this verbal notification, the Company took action to cure the deficiency by amending the Articles of Amendment of the Company's Articles of Incorporation, which set forth the rights and preferences of the holders of the Series C Preferred (the "Articles of Amendment"). The amendment to the Articles of Amendment (the "Amendment") adjusted the conversion ratio of the Series C Preferred for purposes of the voting rights provision of the Articles of Amendment, and had the effect of reducing the number of votes that the holders of the Series C Preferred have because it increased the conversion price from $3.90 to $4.53 for purposes of the voting rights provision. The Amendment did not change the conversion price in any other provision of the Articles of Amendment, including but not limited to the provision on conversion of such Series C Preferred into shares of common stock.

The letter confirms that, subject to the public announcement requirements of Nasdaq Marketplace Rule 4803(a), the Company has regained compliance with Nasdaq Marketplace Rule 4351 and IM 4351 and the matter is now closed.

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.

Media Contact:

Dan Eramian

T: 206.272.4343

C: 206.854.1200

Susan Callahan

T: 206.272.4472

F: 206.272.4434

E: media@ctiseattle.com

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

Investors Contact:

Leah Grant

T: 206.282.7100

F: 206.272.4434

E: invest@ctiseattle.com

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


'/>"/>
SOURCE Cell Therapeutics, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Canadian firm buys Proventiv Therapeutics, makes ex-Bone Care exec CEO
2. Milwaukee takes another step in electronic patient data exchange
3. Ethics Board site offers welcome contrast to state IT mistakes
4. It takes more than money to reach the top
5. CATI takes tech transfer model national
6. Green economic plan takes cue from Indiana
7. Local software company takes Google to court over a patent
8. American Family CIO takes entrepreneurial approach to innovation
9. TDS takes top spot in region in customer satisfaction rankings
10. Innovative health care takes more than just IT automation
11. Centralization mania takes over
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/24/2017)... 24, 2017 Sinovac Biotech Ltd. ("Sinovac" or the "Company") ... China , today announced that its board of directors has ... the plan from March 27, 2017 to March 27, 2018. The amendment ... About Sinovac Biotech Ltd. ... Sinovac Biotech Ltd. is a China ...
(Date:3/23/2017)... ... 2017 , ... AxioMed president, Jake Lubinski, describes the AxioMed ... deformed, which is identical to how the human discs work to distribute force. ... to its natural state along a hysteresis curve, exactly like a healthy human ...
(Date:3/23/2017)... , March 23, 2017  SeraCare Life ... global in vitro diagnostics manufacturers and clinical ... industry,s first multiplexed Inherited Cancer reference ... by next-generation sequencing (NGS). The Seraseqâ„¢ Inherited ... with input from industry experts to validate ...
(Date:3/23/2017)... March 23, 2017 Kineta, Inc., a ... novel therapies in immuno-oncology, today announced the discovery ... molecule compounds that activate interferon response factor 3 ... demonstrate immune-mediated tumor regression in a murine colon ... who demonstrated complete tumor regression to initial drug ...
Breaking Biology Technology:
(Date:3/20/2017)... March 20, 2017 PMD Healthcare announces the ... and Wellness Management System (WMS), a remote, real-time lung ... 2010, PMD Healthcare is a Medical Device, Digital Health, ... dedicated to creating innovative solutions that empower people to ... intent focus, PMD developed the first ever personal spirometer, ...
(Date:3/13/2017)... Future of security: Biometric Face Matching software  Continue ... ... to match face pictures against each other or against large databases. The recognition ... ... software for biometric Face Matching on the market. The speed is at 100 ...
(Date:3/9/2017)... and MOUNTAIN VIEW, Calif. ... "Eating Well Made Simple," and 23andMe , the ... guide better food choices.  Zipongo can now provide customers ... food preferences, health goals and biometrics, but also genetic ... food choices. Zipongo,s personalized food decision support ...
Breaking Biology News(10 mins):