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Cell Therapeutics Announces Receipt of NASDAQ Panel Decision to Transfer to NASDAQ Capital Market
Date:1/6/2009

SEATTLE, Jan. 7 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq and MTA: CTIC) announced today that it has received notification that the NASDAQ Listing Qualifications Panel has granted CTI's request to transfer the listing of its common stock from The NASDAQ Global Market to The NASDAQ Capital Market, which will be effective with the open of trading on Thursday, January 8, 2009. CTI's shares will continue to trade under the ticker symbol CTIC.

CTI's continued listing on The NASDAQ Capital Market is subject to CTI evidencing compliance with all applicable requirements for continued listing on The NASDAQ Capital Market, including the $35 million market value of listed securities requirement or its alternatives, as set forth in NASDAQ Marketplace Rule 4310(c)(3), by February 12, 2009. The Company expects to comply with all applicable requirements for continued listing on The NASDAQ Capital Market by February 12, 2009; however, there can be no assurance that it will be able to do so.

As disclosed on September 6 and October 10, 2008, CTI was previously notified by NASDAQ regarding its non-compliance with the $50 million market value of listed securities requirement for continued listing on The NASDAQ Global Market. In response, CTI appeared before the NASDAQ Listing Qualifications Panel at a hearing at which it requested the transfer of its listing to The NASDAQ Capital Market pursuant to its plan to evidence compliance with the $35 million market value of listed securities requirement for continued listing on that market.

The NASDAQ Capital Market is one of the three market tier designations for NASDAQ-listed stocks and operates in substantially the same manner as The NASDAQ Global Market. Securities listed on The NASDAQ Capital Market must satisfy all applicable qualification requirements for NASDAQ securities, and companies listed on The NASDAQ Capital Market must meet certai
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SOURCE Cell Therapeutics, Inc.
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