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Zevalin Revenues Lead Cell Therapeutics, Inc.'s First Quarter 2008 Financial Results
Date:5/7/2008

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Three Months Ended

March 31,

2008 2007

Revenues:

Product sales $3,374 $-

License and contract revenue 20 20

Total revenues 3,394 20

Operating expenses:

Cost of product sold 890 -

Research and development 15,855 15,286

Selling, general and administrative 11,174 8,130

Amortization of purchased intangibles 397 207

Acquired in-process research and

development 36 -

Total operating expenses 28,352 23,623

Loss from operations (24,958) (23,603)

Other income (expense):

Investment and other income 260 703

Interest expense (12,929) (3,916)

Foreign exchange gain (loss) (2,237) 447

Make-whole interest expense (7,781) (2,310)

Gain on derivative liabilities 11,744 2,708

Loss on exchange of convertible notes (2,295) -

Settlement expense - (143)

Net loss before minority interest (38,196) (26,114)

Minority interest in net loss of subsidiary 32 -

Net loss (38,164) (26,114)

Preferred stock beneficial

conversion
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SOURCE Cell Therapeutics, Inc.
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