Cell Therapeutics Presents Corporate Highlights at Invest Northwest ...( Company estimates sales of pixantrone...)

Company estimates sales of pixantrone, if approved, could potentially reach $1 billion by 2014

SEATTLE, March 19 /PRNewswire-FirstCall/ -- Craig Philips, President of Cell Therapeutics, Inc. (CTI) (NASDAQ and MTA: CTIC) reviewed CTI's programs in a presentation at the 8th Annual WBBA Invest Northwest Conference on Wednesday, March 18th . Mr. Philips' highlights focused on CTI's pixantrone program for treatment of aggressive relapsed non-Hodgkin's lymphoma (NHL) and OPAXIO for treatment of non-small cell lung cancer, including:

• Shared market forecast estimates conducted by CTI based on third-party market research that, if pixantrone were approved in late 2009 by the FDA in the US, and subsequently approved in Europe, the potential combined market could approach $1 billion in sales by 2014 subject to certain market penetration, competitive landscape and pricing assumptions.

• Summarized positive results from the phase III EXTEND trial of pixantrone in aggressive relapsed NHL for which it met the trial's primary endpoint, with patients treated with pixantrone achieving a high rate of confirmed and unconfirmed complete remissions compared to patients treated with standard chemotherapy (14/70 (20.0%) for pixantrone arm compared to 4/70 (5.7%) for the standard chemotherapy arm, p = 0.02). CTI expects to complete a New Drug Application filing for pixantrone in the second quarter of 2009.

• Reviewed OPAXIO data in small cell lung cancer and the status of the ongoing phase III study in ovarian cancer. CTI expects to receive an opinion on the Marketing Authorization Application in Europe that is currently under review by the European Medicines Agency in the second half of 2009.

• Reviewed recent initiatives taken by CTI to reduce expenses incl
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