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Cell Therapeutics Second Quarter Net Loss Decreases 54%; Pixantrone NDA Submitted to the FDA for Approval
Date:8/5/2009

2008 2009 2008 ---- ---- ---- ---- Revenues: Product sales $- $2,870 $- $6,244 License and contract revenue 20 20 40 40 --- --- --- --- Total revenues 20 2,890 40 6,284 --- ----- --- ----- Operating expenses, net: Cost of product sold - 767 - 1,657 Research and development 7,320 15,857 15,276 31,712 Selling, general and administrative 10,580 11,518 19,330 22,728 Amortization of purchased intangibles - 537 - 934 Restructuring charges 3,820 - 3,944 - Gain on sale of investment in joint venture - - (10,244) - --- --- ------- --- Total operating expenses, net 21,720 28,679 28,306 57,031 ------ ------ ------ ------ Loss from operations (21,700) (25,789) (28,266) (50,747) Other income (expense): Investment and other income, net 37 93 71 353 Interest expense (1,583) (2,395) (3,200) (4,380) Amortization of debt discount and issuance costs (497) (30,202) (5,348) (41,146) Foreign exchange gain (loss) 54 76 95 (2,161) Make-whole interest expense - (25,596) (6,345) (33,377) Gain on derivative
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SOURCE Cell Therapeutics, Inc.
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