Newsgroup: it.economia.borsa
Titolo: Cell Therapeutics, Inc. (CTI) Reports 2005 Fourth Quarter and Year End Results

      Cell Therapeutics, Inc. (CTI) Reports 2005 Fourth Quarter and Year End
Results
      SEATTLE, March 9 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc.
(CTI) (Nasdaq: CTIC; MTAX) reported financial results for the quarter and
year ended December 31, 2005. Total revenues for the quarter were $1.2
million compared to $8.1 million in the fourth quarter of 2004. CTI reported
a net loss for the quarter of $18.7 million ($0.27 per share) compared to a
net loss of $43.5 million ($0.72 per share) for the same period in 2004.
This included a $40.7 million gain in the quarter on the divestiture of
TRISENOX(R) and a $23.6 million charge for the conversion of $38.4 million
related to the Company's 4% and 5.75% convertible senior subordinated notes.
      Total revenues for the year ended December 31, 2005, were $16.1
million compared to $29.6 million in 2004. For the year, CTI posted a net
loss of $102.5 million ($1.59 per share), including a $71.2 million gain for
the year on the divestiture of TRISENOX, compared to a net loss of $252.3
million ($4.67 per share) in 2004, which included an $87.4 million charge
related to in-process research and development resulting from the
acquisition of Novuspharma S.p.A..
      Revenues for the quarter and year ended December 31, 2005 were lower
as compared to the same periods in 2004 due to a reduction in product sales
revenues as a result of the divestiture of TRISENOX to Cephalon in July
2005. The Company ended the year with cash, cash equivalents, securities
available-for-sale and interest receivable of approximately $69 million.
This amount excludes proceeds of $24.6 million held in escrow until April
30, 2006 to fund potential redemptions of 30% of the 6.75% convertible
senior notes.
      As of February 28, 2006, $56.1 million of the 6.75% convertible senior
notes had converted into approximately 21.3 million shares. As a result of
the conversions we paid make whole interest of $18.9 million.
      "Our efforts to reduce expenses and raise additional capital over the
last several months have placed us in the position this year to focus on
advancing XYOTAX(TM) toward marketing applications in the United States and
Europe and on reporting the interim analysis for the pixantrone phase III
trial in non-Hodgkin's lymphoma," stated James A. Bianco, M.D., President
and CEO of CTI.
    2005 Highlights
     --  Completed an $82 million convertible senior notes offering and
         conversion of $38.4 million of outstanding 5.75% and 4% convertible
         senior subordinated notes
     --  Announced that pixantrone achieved the primary endpoint of a
         randomized trial, significantly prolonging time to progression when
         added to rituximab compared to rituximab alone, in indolent
         non-Hodgkin's lymphoma
     --  Reported gender specific survival benefit observed in STELLAR 3 and
         4 trials among women on XYOTAX, linking survival benefit to
estrogen
         status and metabolism of polymer
     --  Reported prospective analysis of phase II trial (PGT202)
         demonstrating estrogen-linked survival benefit for women with
         non-small cell lung cancer on XYOTAX
     --  Initiated first gender specific approval trial (PIONEER trial) in
         non-small cell lung cancer
     --  Significantly reduced operating costs compared to 2004 and
refocused
         resources on near term XYOTAX and pixantrone milestones
     --  Completed the divestiture of TRISENOX to Cephalon, and recorded a
         $71.2 million gain for the year, with the potential to earn an
         additional $100 million in milestones
     --  Appointed Stonefield Josephson, Inc. as independent registered
public
         accounting firm
     --  Appointed John Bauer, former Nintendo of America, Inc. Executive
Vice
         President of Finance, as new board member and Chair of the
Company's
         Audit Committee and appointed Phil Nudelman as Chairman of the
Board
     --  Announced initiation by the Gynecologic Oncology Group (GOG) of a
         large phase III clinical trial examining the ability of XYOTAX to
         maintain remission and prolong the survival of ovarian
         cancer patients
     --  Announced XYOTAX patent allowance in Japan, which will provide
         exclusivity until 2018; announced that the European Patent Office
         issued an allowance for a patent directed to XYOTAX, which when
         issued, will have the same term as existing U.S. patents that
provide
         patent protection for XYOTAX until 2017

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