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Cell Therapeutics Reports Second Quarter 2013 Financial Results
Date:7/31/2013

lifesciences.com">lvilla@cti-lifesciences.com
CTI_EUInvestors@CTI-Lifesciences.com

 

 Cell Therapeutics, Inc.Condensed Consolidated Statements of Operations(In thousands, except for per share amounts)(unaudited)Three Months EndedSix Months EndedJune 30,June 30,2013201220132012Revenues:Product sales, net$
306$
-$
,432$
-Total revenues306-1,432-Operating costs and expenses:Cost of product sold36-91-Research and development8,0208,95916,37517,129Selling, general and administrative10,10211,33321,24521,261Acquired in-process research and development-29,108-29,108Total operating costs and expenses18,15849,40037,71167,498Loss from operations(17,852)(49,400)(36,279)(67,498)Other income (expense):Investment and other income (expense), net107(99)(260)91Interest expense(316)(3)(364)(8)Amortization of debt discount and issuance costs(164)-(187)-Foreign exchange gain (loss)5(696)(746)(312)Net loss before noncontrolling interest(18,220)(50,198)(37,836)(67,727)Noncontrolling interest20960441143Net loss attributable to CTI(18,011)(50,138)(37,395)(67,584)Deemed dividends on preferred stock-(8,458)-(8,458)Net loss attributable to CTI common shareholders$ (18,011)$ (58,596)$ (37,395)$ (76,042)Basic and diluted net loss per common share $
(0.17)
$
(1.38)
$
(0.35)
$
(1.83)
Shares used in calculation of basic and dilutednet loss per common share107,72742,532107,21541,662Balance Sheet Data (unaudited):(amounts in thousands)June 30,December 31,20132012Cash and cash equivalents $  28,568$  50,436Working capital13,03337,644T
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