Proposals approved by more than 95 percent of votes cast
SEATTLE, June 20 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq: CTIC; MTA) held a Special Meeting in lieu of the Annual Meeting of Shareholders on Thursday, June 19, 2008 at its headquarters in Seattle. At the meeting, shareholders approved all matters with more than 95 percent of votes cast at the meeting voting in favor of each of the items proposed in the Company's Proxy Statement, including the reelection of directors Frederick Telling, M.D. Vartan Gregorian, Ph.D., and James Bianco, M.D. and the ratification of the appointment of Richard Love to the Company's Board of Directors.
Also approved at the meeting were a proposal to increase the number of shares of authorized stock (including an increase in the number of shares of authorized common stock), the reduction of quorum for future shareholder meetings to one-third of the outstanding shares entitled to vote, a proposal to allow the Board of Directors to implement a reverse stock split if and when the Board deems such action appropriate, a proposal to increase the number of shares available for grant under our 2007 Equity Incentive Plan and the ratification of our independent auditors.
During a management presentation, James Bianco, M.D., President and CEO of CTI, also reviewed recent accomplishments of CTI as well as the Company's strategy and potential future milestones that may be achieved over the next year.
Potential Future Milestones:
-- Submission of a supplemental Biologics License Application (sBLA) to
the Food and Drug Administration (FDA) for CTI's commercial product,
Zevalin(R) (Ibritumomab Tiuxetan), seeking expansion of the label to
include use in consoli
|SOURCE Cell Therapeutics, Inc.|
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