Navigation Links
Cell Therapeutics Retires 7.5% Convertible Senior Notes
Date:5/1/2011

SEATTLE, May 2, 2011 /PRNewswire/ -- Cell Therapeutics, Inc. ("CTI") (NASDAQ and MTA: CTIC) today announced that it has deposited $10.6 million in cash as trust funds with U.S. Bank National Association, as the trustee of the outstanding 7.5% convertible senior notes (the "Notes"), which is an amount sufficient to pay and discharge the entire amount due on the Notes, including accrued and unpaid interest.  

"Due to our successful efforts last year that resulted in a significant reduction of our debt, along with the retirement of the Notes, there now remains only one series of convertible senior notes on the balance sheet.  We plan to retire the remaining outstanding convertible senior notes at maturity in December 2011, which would leave CTI free of any remaining convertible debt," said James A. Bianco, M.D., CEO of CTI.

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 www.celltherapeutics.com.

This press release includes forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results and the trading price of CTI's securities. Specifically, the risks and uncertainties that could affect the development of CTI's products include risks associated with preclinical and clinical developments in the biopharmaceutical industry, including, without limitation, that CTI may experience unexpected delays in the regulatory approval process of its products, that CTI may not retire its remaining outstanding convertible senior notes at maturity in December 2011 and may not be free of any remaining convertible debt, CTI's ability to continue to raise capital as needed to fund its operations, competitive factors, technological developments, costs of developing, producing and selling CTI's product candidates, and the risk factors listed or described from time to time in CTI's filings with the Securities and Exchange Commission including, without limitation, CTI's most recent filings on Forms 10-K, 10-Q and 8-K. Except as may be required by law, CTI does not intend to update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.

Media Contact:

Dan Eramian
T: 206.272.4343
C: 206.854.1200
F: 206.272.4434
E: deramian@ctiseattle.com
www.celltherapeutics.com/press_room

Investors Contact:

Ed Bell
T: 206.272.4345
Lindsey Jesch Logan
T: 206.272.4347
F: 206.272.4434
E: invest@ctiseattle.com
www.celltherapeutics.com/investors


'/>"/>
SOURCE Cell Therapeutics, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Talecris Biotherapeutics Announces First Quarter 2011 Results
2. Nektar Therapeutics Reports First Quarter 2011 Financial Results
3. Carmell Therapeutics Completes Series A Financing to Advance the Development of Novel Bioactive Plastics
4. Proteon Therapeutics Initiates Patient Enrollment in Phase 2 Clinical Study of PRT-201 in Hemodialysis Patients
5. Talecris Biotherapeutics to Report First Quarter 2011 Financial Results
6. Precision Therapeutics ChemoFx® Demonstrates Significant Role in Selection of Chemotherapy Doublets in Non Small Cell Lung Cancer
7. MabVax Therapeutics Receives $1.8 Million in a Phase 2 Small Business Innovation Research Program Award From the National Cancer Institute
8. Precision Therapeutics Announces New Tumor Profiling Product to Augment Utility of ChemoFx® and Further Personalize Cancer Treatment
9. Reportlinker Adds Antiviral Therapeutics - Technologies, Markets and Companies
10. Orexigen® Therapeutics Presents Additional Contrave® Data from Phase 3 COR-II Trial on 24-Hour Ambulatory Blood Pressure Monitoring
11. Orexigen® Therapeutics Announces Upcoming Data Presentation at the American College of Cardiology Annual Scientific Meeting
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/18/2017)... NJ (PRWEB) , ... July 18, 2017 , ... ... corporate finance technology, DataForm Software ( https://dataformsoftware.com ) announces the migration of its ... to Microsoft Azure. Planet is a team-centric, enterprise work management system that merges ...
(Date:7/17/2017)... ... July 17, 2017 , ... Neurodevelopmental ... wide range of overlapping clinical features. The advancement of targeted next-generation sequencing (NGS) ... NDD research and testing. , However, designing a custom panel for disease ...
(Date:7/16/2017)... ... July 16, 2017 , ... OHAUS Corporation, ... the launch of its new line of Extreme Environment Shakers today. , Extreme ... CO2 and humidity for optimal cell growth such as cell cultures, solubility studies ...
(Date:7/14/2017)... USA/ Martinsried, Germany (PRWEB) , ... July 14, ... ... newly developed standardized solution for sample preparation of proteins to clean peptides for ... Diagenode Bioruptor® sonication system. , The PreOmics iST Kit is based on ...
Breaking Biology Technology:
(Date:5/6/2017)... -- RAM Group , Singaporean based technology ... biometric authentication based on a novel  quantum-state ... perform biometric authentication. These new sensors are based on a ... Group and its partners. This sensor will have widespread ... security. Ram Group is a next generation sensor ...
(Date:4/13/2017)... 2017 UBM,s Advanced Design and Manufacturing event ... emerging and evolving technology through its 3D Printing and ... alongside the expo portion of the event and feature ... focused on trending topics within 3D printing and smart ... event will take place June 13-15, 2017 at the Jacob ...
(Date:4/11/2017)... 11, 2017 NXT-ID, Inc. (NASDAQ:   ... announces the appointment of independent Directors Mr. Robin D. ... Board of Directors, furthering the company,s corporate governance and expertise. ... Gino Pereira , ... forward to their guidance and benefiting from their considerable expertise ...
Breaking Biology News(10 mins):