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Cell Therapeutics, Inc. (CTI) Reports Recent Accomplishments and Third Quarter 2007 Financial Results
Date:11/7/2007

206.272.4434

E: invest@ctiseattle.com

http://www.cticseattle.com/investors.htm

Cell Therapeutics, Inc.

Condensed Consolidated Statements of Operations

(In thousands, except for per share amounts)

(unaudited)

Three Months Ended Nine Months Ended

September 30, September 30,

2007 2006 2007 2006

Revenues:

License and contract revenue $20 $20 $60 $60

Total revenues 20 20 60 60

Operating expenses:

Research and development 18,566 14,443 50,368 45,370

Selling, general and

administrative 8,874 9,057 24,594 27,819

Acquired in-process research

and development 21,343 - 21,343 -

Amortization of purchased

intangibles 219 200 638 588

Total operating expenses 49,002 23,700 96,943 73,777

Loss from operations (48,982) (23,680) (96,883) (73,717)

Other income (expense):

Investment and other income 626 607 2,067 1,843

Interest expense (2,463) (3,552) (10,057) (16,888)

Foreign exchange gain (loss) 2,308 (115) 3,142 997

Make-whole interest expense - (213) (2,310) (24,753)

Gain (loss) on derivative

liabilities 4 (879) 3,618 5,204

Gain on exchange of

convertible notes - -
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SOURCE Cell Therapeutics, Inc.
Copyright©2007 PR Newswire.
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