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

938,66538,29048,043Gain from litigation settlement

(11,000)-(11,000)-Total operating expenses, net

9,91116,32162,19075,074Loss from operations

(9,911)(16,321)(62,190)(74,755)Other income (expense):Investment and other income, net

1,6599811,7131,221Interest expense

(183)(386)(1,038)(2,334)Amortization of debt discount and issuance costs

(110)(168)(546)(768)Foreign exchange loss

(502)(221)(558)(521)Debt conversion expense

---(2,031)Provision for VAT Assessments

-(3,503)-(3,503)Settlement expense, net

-(145)-(145)Net loss before noncontrolling interest

(9,047)(19,763)(62,619)(82,836)Noncontrolling interest

8045259194Net loss attributable to CTI

(8,967)(19,718)(62,360)(82,642)Dividends and deemed dividends on preferred stock

(8,901)(14,399)(58,718)(64,918)Net loss attributable to CTI common shareholders

$ (17,868)$ (34,117)$  (121,078)$  (147,560)Basic and diluted net loss per common share

(1.29)Shares used in calculation of basic and dilutednet loss per common share

188,513126,659171,468114,105Balance Sheet Data (unaudited):(amounts in thousands)December 31, 20112010Cash and cash equivalents $
22,649Working capital33,291(14,165)Total assets62,23953,592Convertible debt-22,308Accumulated deficit(1,714,785)(1,576,643)Total shareholders' equity (deficit)28,009(5,145)

SOURCE Cell Therapeutics, Inc.
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