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Biotech / Medical : Cell Therapeutics (CTIC)

CTIC 9.090

0.0%

Jun 26 5:00 PM EST

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From: Icebrg	7/21/2008 9:31:04 AM
	Read Replies (1) of 946

Cell Therapeutics says it's low on cash Biotechnology company Cell Therapeutics said Friday in a regulatory filing that without a capital infusion "we will have insufficient funds... Biotech Biotechnology company Cell Therapeutics said Friday in a regulatory filing that without a capital infusion "we will have insufficient funds to continue operations through the end of the current fiscal quarter." "We have an immediate need to raise additional capital in the next thirty days in order to meet our operation needs," the Seattle biotech said in a Securities and Exchange Commission filing. The company said that as of March 31, it had approximately $15.3 million in cash, securities and other current assets, compared to liabilities of $47.9 million. It has not reported results for the quarter ended June 30. Cell Therapeutics shares have fallen 80 percent this year. seattletimes.nwsource.com

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