Cell Therapeutics Regains Compliance with NASDAQ Minimum Bid Price Rule
SEATTLE, June 1, 2011 /PRNewswire/ -- Cell Therapeutics, Inc. ("CTI") (NASDAQ: CTICD and MTA: CTIC) announced that it has received a letter from The NASDAQ Stock Market LLC (the "NASDAQ"), indicating that CTI has regained compliance with the minimum bid price rule (i.e., NASDAQ Listing Rule 5550(a)(2)) for continued listing on The NASDAQ Capital Market and that CTI is in compliance with all applicable listing standards. Therefore, the scheduled hearing, which CTI previously announced in a press release dated May 6, 2011, before the NASDAQ Listing Qualifications Panel has been cancelled and CTI's common stock will continue to be listed and traded on The NASDAQ Stock Market.
About Cell Therapeutics, Inc.
Headquartered in Seattle, CTI is a biopharmaceutical company committed to developing an integrated portfolio of oncology products aimed at making cancer more treatable. For additional information, please visit www.CellTherapeutics.com.
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This press release includes forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results. Specifically, the risks and uncertainties that could affect CTI include risks associated with preclinical and clinical developments in the biopharmaceutical industry, including, without limitation, that CTI may experience unexpected delays in the regulatory approval process of its product candidates, CTI's ability to continue to raise capital as needed to fund its operations, determinations by regulatory, patent and administrative governmental authorities, competitive factors, technological developments, costs of developing, producing and selling CTI's product candidates, that CTI cannot guarantee that it will maintain compliance with the NASDAQ listing standards and the risk factors listed or described from time to time in CTI's filings with the Securities and Exchange Commission including, without limitation, CTI's most recent filings on Forms 10-K, 8-K, and 10-Q. Except as may be required by law, CTI 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: 206.272.4343C: 206.854.1200E: email@example.com.CellTherapeutics.com/press_room
Investors Contact:Ed BellT: 206.282.7100Lindsey Jesch LoganT: 206.272.4347F: 206.272.4434E: firstname.lastname@example.org.CellTherapeutics.com/investors
SOURCE Cell Therapeutics, Inc.