Cell Therapeutics (CTIC) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Cell Therapeutics (CTIC)

CTIC 9.090

0.0%

Jun 26 5:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: tuck who wrote (719)	8/23/2005 5:14:01 AM
From: Icebrg	Read Replies (2) of 946

Seeing Link and Spinelli resign from the board and Spinelli also from the company was disappointing - to say the least. Normally, one would expect Spinelli to stay on to see "his" drug gain approval. Maybe he felt that Bianco is spending too much money on Xyotax in the attempt to somehow have the drug approved. Something that - with the company's cash position being as it is - must be negative for the development of Pixantrone. Or maybe Bianco has decided to sell Pixantrone too, as he did with Trisenox. That should defenitively cause Spinelli to leave the company. His resignation letter was, hrmm, somewhat harsh (filed in connection with the recent 8-K). New York August 19, 2005 To Dr. Max Link, the Chairman of the CTI Board of Directors With this letter I resign effective immediately from the Board of Directors of CTIC. My resignation is due to the denial by the Board of Directors of CTI to replace James Bianco with a more credible and reliable CEO in the interest of shareholders and the company. I am also giving notice that I resign from any Executive role in the company. I am not seeking nor will I accept any severance payment, other than what is my right to receive according to the Italian law. This because I intend to retain in full my rights. I recognise that by resigning I waive my rights to my CTI stock options and to any restricted shares. I remain available to fulfil the notice period of three months, if required, as defined by the Italian law. This to ensure that a smooth transition of my duties is accomplished and also that a continuous support of key activities to complete xyotax NDA package is ensured. With best personal regards. /s/ Silvano Spinelli

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next