CTI has agreed to pay Halcyon Cabot Partners, Ltd. a placement agent fee of 5% of the gross proceeds received in the Offering.
The securities described above are being offered by CTI pursuant to shelf registration statements previously filed with the Securities and Exchange Commission (the "SEC"), which the SEC declared effective on
March 2, 2011
, 2011. A prospectus supplement under Rule 424 of the Securities Act of 1933, as amended, related to the Offering will be filed with the SEC and will be available on the SEC's website located at
. Copies of the prospectus supplement and the accompanying prospectus relating to the Offering, when available, may be obtained directly from CTI by contacting CTI at the following address: Cell Therapeutics, Inc., 501 Elliott Avenue West, Suite 400,
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. The Series 15 Preferred Stock (and the shares of common stock into which each share of Series 15 Preferred Stock will be convertible) and the warrants (and the shares of common stock issuable upon exercise or exchange of the warrants) will not be offered, sold or distributed, directly or indirectly, in
in an offer to the public of financial products under the meaning of Article 1, paragraph 1, letter t) of Legislative Decree No. 58 of
February 24, 1998
, as amended (the "Financial Services Act"), unless an express exemption from compliance with the restrictions on offers to the public, including, without limitation, as provided under Article 100 of the Financial Services Act and Article 34-
of CONSOB Regulation No. 11971 of
May 14, 1999
, as amended, does not apply.
About Cell Therapeutics, Inc.
, 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
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results and the trading price of CTI's securities. Such statements include, but are not limited to, statements regarding CTI's expectations with respect to the completion and timing of the Offering, the ability to consummate all or any of the Second Closing and CTI's intentions regarding the use of proceeds may change. Risks that contribute to the uncertain nature of the forward-looking statements include, among others, risks associated with market conditions and the satisfaction of customary closing condition related to the Offering, that the Initial Purchaser may exceed the 9.9% ownership threshold at the Second Closing, that CTI may not use the net proceeds of the Offering as expected as well as risks related to developments in the biopharmaceutical industry, the outcome of preclinicial and clinical studies, risks related to regulatory approvals, delays in commencement of preclinical and clinical studies, costs of developing, producing and selling CTI's drug candidates, that CTI's acquisition of certain assets from S*BIO Pte Ltd. may not be timely completed, if at all, that the projected benefits of such acquisition may not materialize as expected, that CTI may not be able to successfully implement its plans, strategies and objectives related to such acquisition and development of the acquired compounds, the risk that CTI may not be able to sustain its current cost controls, and the risk 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 its drug candidates. Further risks and uncertainties include 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.
T: 206.272.4343 C: 206.854.1200 E:
Lindsey Jesch Logan
T: 206.272.4347 F: 206.272.4434 E: