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Cell Therapeutics, Inc. (CTI) Reports Fourth Quarter and Year-End Financial Results and Milestones

be able to sustain its current cost controls, and that CTI may not be able to continue to raise capital as needed to fund its operations, competitive factors, technological developments, costs of developing, producing and selling pixantrone. Further risks and uncertainties include that CTI continues to have a substantial amount of debt outstanding and the quarterly interest expense associated with the debt is significant, CTI's operating expenses continue to exceed its net revenues, that CTI may not be able to further reduce its operating expenses, that CTI will continue to need to raise capital to fund its operating expenses and may not be able to raise sufficient amounts to fund its continued operation as well as other risks listed or described from time to time in CTI's most recent filings with the Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K. Except as required by law, CTI does not intend to update any of the statements in this press release upon further developments.

Media Contact:
Dan Eramian
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Investors Contact:
Ed Bell
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Lindsey Jesch Logan
T: 206.272.4347
F: 206.272.4434
E: Therapeutics, Inc.Condensed Consolidated Statements of Operations(In thousands, except for per share amounts)(unaudited)Three Months EndedYear EndedDecember 31,December 31,2011201020112010Revenues:License and contract revenue

319Total revenues

---319Operating expenses, net:Research and development

7,9187,65634,90027,031Selling, general and administrative


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