Law Offices of Howard G. Smith announces that a securities class action lawsuit has been filed on behalf of all persons or entities who purchased the common stock of Cell Therapeutics, Inc. (“Cell Therapeutics” or the “Company”) (Nasdaq: CTIC) between May 5, 2009 and February 8, 2010, inclusive (the “Class Period”). The class action lawsuit was filed in the United States District Court for the Western District of Washington.

Cell Therapeutics is a biopharmaceutical company that develops, acquires, and commercializes oncology products for the treatment of cancer. The Complaint alleges that the defendants violated federal securities laws by issuing material misrepresentations to the market concerning the Company’s business and financial prospects, thereby artificially inflating the price of Cell Therapeutics securities.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Cell Therapeutics common stock between May 5, 2009 and February 8, 2010, you have certain rights, and have until May 11, 2010, to move for Lead Plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to howardsmith@howardsmithlaw.com or visit our website at www.howardsmithlaw.com.

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