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Cell Therapeutics Regains Compliance with NASDAQ's Minimum Bid Price Requirement
Date:9/25/2008

SEATTLE, Sept. 25 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq: CTICD and MTA: CTIC) announced today that the Company has received a letter from The NASDAQ Stock Market confirming that it has regained compliance with the minimum bid price requirement for continued listing on The NASDAQ Global Market under Marketplace Rule 4450(a)(5). In the letter, NASDAQ stated that this matter is now closed.

The Company continues its efforts to regain compliance with NASDAQ Marketplace Rule 4450(b)(1) requiring a minimum market value of listed securities of $50 million in the time period provided by The NASDAQ Stock Market. Currently the Company has until October 6, 2008 to regain compliance with such requirement. In the event the Company does not regain compliance, it would be afforded the opportunity to meet with a NASDAQ Listing Qualifications Panel and present a plan for regaining compliance. The Company would remain listed pending the conclusion of that process and during any extension period which may be granted by the Panel. Alternatively, the Company may be able to apply to transfer to The NASDAQ Capital Market which maintains a lower threshold of financial, qualitative and liquidity requirements if it satisfies the continued inclusion requirements for that market, which include a minimum market value of listed securities of $35 million. The NASDAQ Capital Market is one of three market tier designations for NASDAQ-listed stocks and is a continuous trading market that operates in the same manner as The NASDAQ Global Market.

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 mo
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SOURCE Cell Therapeutics, Inc.
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