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Biotech / Medical : Cell Therapeutics (CTIC) -- Ignore unavailable to you. Want to Upgrade?

To: rkrw who wrote (838)	9/19/2006 8:30:35 AM
From: nigel bates	Read Replies (2) \| Respond to of 946

Corporate jet, anyone ? SEATTLE, Sept. 19 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq: CTIC; MTAX) today announced that it has agreed to sell approximately 23,121,387 shares of its common stock at a per share price of $1.73 per share in a registered offering. CTI has also granted the purchasing investors a 90-day option to purchase approximately an additional 5,780,346 shares at the same price per share. The offering is expected to close on or about September 21, 2006, subject to certain closing conditions. Rodman & Renshaw, LLC acted as the lead placement agent and sole book runner on this transaction. Punk, Ziegel and Company acted as the co-placement agent.

To: rkrw who wrote (838)	9/19/2006 8:56:39 AM
From: Icebrg	Read Replies (1) \| Respond to of 946

The Xyotax agreement is not entirely an option (if I got him right at the CC). There are development milestones agreed upon, but NVS does not have to share any of the development costs until they decide to take over the project. Then NVS will also have to reimburse half of the development costs CTIC has had. This means in effect that the development risk still will remain with CTIC, while NVS has purchased an "option" to participate if things turns out well. The risk for NVS is that CTIC will be reaching some or all of the development milestones, but still doesn't manage to get the product approved. I would still like to give Bianco some credit for being able to hook NVS on these deals. At least they have now got a nice-looking potential partner/licensee. Erik