Cell Therapeutics (CTIC) Message Board

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Biotech / Medical : Cell Therapeutics (CTIC)

CTIC 9.090

0.0%

Jun 26 5:00 PM EST

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To: Icebrg who wrote (933)	6/21/2008 2:14:55 AM
From: Icebrg	of 946

CTI's meeting goes without a hitch As I mentioned last week in a story (read it here), some upset Cell Therapeutics stockholders planned to not vote their shares at the company's shareholder meeting out of protest. Despite the threat, a quorum was reached at Thursday's meeting, which took place without incident. All of the company's proposals, including a resolution giving the company's board the authority to reverse split the company's stock and a resolution to reduce the quorum necessary to hold future meetings, passed. During a question and answer period following the meeting, CEO James Bianco said that while the board had the discretion to reverse split the company's shares "it's not something that is definite." Currently, the company's stock -- which is trading under $1 a share -- is in danger of being delisted from the Nasdaq global market. If it doesn't recover, the shares could be moved to the Nasdaq capital market. Bianco said that he hoped that the company's stock would recover without a reverse split. blog.seattlepi.nwsource.com

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