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Cell Therapeutics Announces Planned Reverse Stock Split; Receives NASDAQ Notice of Non-Compliance; Intends to Request Hearing
Date:5/6/2011

the Company may experience unexpected delays in the regulatory approval process of its products, the Company's ability to continue to raise capital as needed to fund its operations, that the Panel may not grant the Company's request for continued listing on The NASDAQ Capital Market, that the Common Stock may not continue trading on The NASDAQ Capital Market pending the outcome of the hearing, that if the Panel grants the Company a hearing, the hearing may not be held within 45 days, that the Company may not regain compliance with the NASDAQ listing requirements by the time of the Panel hearing, that the Panel may not grant the Company additional time within which to regain compliance with the NASDAQ listing requirements, that the reverse stock split may not increase the per-share-trading price of the Common Stock to regain compliance with the NASDAQ listing requirements for continued listing on The NASDAQ Capital Market, competitive factors, technological developments, costs of developing, producing and selling the Company's product candidates, and the risk factors listed or described from time to time in the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's most recent filings on Forms 10-K, 10-Q and 8-K. Except as may be required by law, the Company does not intend to update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.

Media Contact:

Dan Eramian
T: 206.272.4343
C: 206.854.1200
F: 206.272.4434
E: deramian@ctiseattle.com
www.celltherapeutics.com/press_room

Investors Contact:

Ed Bell
T: 206.272.4345
Lindsey Jesch Logan
T: 206.272.4347
F: 206.272.4434
E: invest@ctiseattle.com

SOURCE Cell Therapeutics, Inc.
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