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Cell Therapeutics, Inc. (CTI) Reports Recent Accomplishments and Third Quarter 2007 Financial Results

- 7,978

Settlement expense - - (160) (883)

Loss before minority interest (48,507) (27,832) (100,583) (100,219)

Minority interest in net loss

of subsidiary 36 - 36 -

Net loss (48,471) (27,832) (100,547) (100,219)

Preferred stock beneficial

conversion feature (3,918) - (8,301) -

Preferred stock dividends (214) - (395) -

Net loss attributable to

common shareholders $(52,603) $(27,832) $(109,243) $(100,219)

Basic and diluted net loss per

common share $(1.09) $(1.00) $(2.55) $(3.93)

Shares used in calculation of

basic and diluted net loss per

common share (1) 48,202 27,890 42,873 25,533

Balance Sheet Data: (amounts in thousands)

September 30, December 31,

2007 2006

Cash and cash equivalents, securities (unaudited)

available-for-sale and interest receivable $38,313 $54,407

Working capital (33,916) 30,166

Total assets 84,953 101,821

Convertible debt 150,128 166,178

Accumulated deficit (1,070,351) (961,108)

Shareholders' deficit (119,348) (101,604)

(1) Amounts reflect a one-for-four reverse stock split of our common stock

effective April 15, 2007.

SOURCE Cell Therapeutics, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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