Navigation Links
Cell Therapeutics Retires Remaining Convertible Debt
Date:12/18/2011

SEATTLE, Dec. 19, 2011 /PRNewswire/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq and MTA: CTIC) announced today that it has deposited $11.2 million in cash as trust funds with U.S. Bank National Association, as the trustee of the outstanding 5.75% 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. CTI has now retired all of its outstanding convertible debt.

"We have worked diligently over the past five years to restructure, exchange, and retire all of our convertible debt while continuing to advance our product candidates toward market. The deleveraging of our balance sheet puts CTI in a stronger financial position as we ready for potential product approval in 2012," stated Louis A. Bianco, Chief Financial Officer 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 http://www.CellTherapeutics.com.

Sign up for email alerts and get RSS feeds at our Web site, http://www.CellTherapeutics.com/investors_alert

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 market price of CTI's securities. Specifically, the risks and uncertainties that could affect the development of CTI's product candidates include risks associated with preclinical and clinical developments in the biopharmaceutical industry in general, and with pixantrone in particular, including, without limitation, the potential failure of pixantrone to prove safe and effective for the treatment of relapsed or refractory non-Hodgkin's lymphoma and/or other tumors as determined by the U.S. Food and Drug Administration and/or the European Medicines Agency, that one or more of CTI's product candidates may be approved in 2012, CTI's ability to continue to raise capital as needed to fund its operations, competitive factors, technological developments, costs of developing, producing and selling pixantrone, 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
E: deramian@ctiseattle.com

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. Amsterdam Molecular Therapeutics Announces Negative Equity Position
2. Fate Therapeutics Announces the Appointment of William H. Rastetter as Chairman of its Board of Directors and Interim CEO
3. Tarsa Therapeutics Targets 2012 NDA Submission for its OSTORA™ Oral Calcitonin
4. Stemline Therapeutics, Inc. to Present at the Oppenheimer 22nd Annual Healthcare Conference
5. Silence Therapeutics Announces Positive Response by USPTO that Affirms Validity of Four Foundational RNAi Patents
6. MarketsandMarkets: Chronic Lymphocytic Leukemia Therapeutics Market Worth $2.2 Billion by 2020
7. Stemline Therapeutics, Inc. Announces Two Poster Presentations of SL-401 Efficacy Data Against Lymphoid Cancers at the 53rd Annual Meeting of the American Society of Hematology (ASH)
8. Silence Therapeutics Announces Positive Outcome From Oral Hearing at the European Patent Office
9. MarketsandMarkets: Acute Lymphocytic Leukemia Therapeutics Market worth $3.88 Billion by 2020
10. Aratana Therapeutics Completes $15 Million Series B Financing
11. Echo Therapeutics Announces Positive Results of Clinical Trial of its Symphony® Transdermal Continuous Glucose Monitoring (tCGM) System in Patients With Type 1 and Type 2 Diabetes
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... Cancer ... what they believe could be a new and helpful biomarker for malignant pleural ... Click here to read it now. , Biomarkers are components in the ...
(Date:6/27/2016)... June 27, 2016   Ginkgo Bioworks , a ... engineering, was today awarded as one of the ... the world,s most innovative companies. Ginkgo Bioworks is ... the real world in the nutrition, health and ... directly with customers including Fortune 500 companies to ...
(Date:6/23/2016)... (PRWEB) , ... June 23, 2016 , ... ... the release of its second eBook, “Clinical Trials Patient Recruitment and Retention Tips.” ... and retention in this eBook by providing practical tips, tools, and strategies for ...
(Date:6/23/2016)... 23, 2016 Houston Methodist Willowbrook Hospital ... Sports Association to serve as their official health ... Methodist Willowbrook will provide sponsorship support, athletic training ... association coaches, volunteers, athletes and families. ... Sports Association and to bring Houston Methodist quality ...
Breaking Biology Technology:
(Date:6/22/2016)... 2016  The American College of Medical Genetics and Genomics ... as one of the fastest-growing trade shows during the ... Bellagio in Las Vegas . ... growth in each of the following categories: net square feet ... of attendees. The 2015 ACMG Annual Meeting was ranked 23 ...
(Date:6/21/2016)... VANCOUVER, British Columbia , June 21, 2016 ... been appointed to the new role of principal ... has been named the director of customer development. ... , NuData,s chief technical officer. The moves reflect ... development teams in response to high customer demand ...
(Date:6/15/2016)... 15, 2016 Transparency Market ... Recognition Market by Application Market - Global Industry Analysis Size ... to the report, the  global gesture recognition market ... and is estimated to grow at a CAGR ... 2024.  Increasing application of gesture recognition ...
Breaking Biology News(10 mins):