SEATTLE, March 25 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (NASDAQ and MTA: CTIC) announced today the results from its Special Meeting of Shareholders held on Tuesday, March 24, 2009.
At the meeting, shareholders approved the proposal to increase the number of shares of authorized stock (including an increase in the number of shares of authorized common stock), the proposal to increase the number of shares available for issuance under its 2007 Equity Incentive Plan and the proposal to increase the number of shares available for issuance under its 2007 Employee Purchase Plan. The proposal to allow the Board of Directors to implement a reverse split if and when the Board deems such action appropriate was not approved by the shareholders.
"We appreciate the support of our shareholders as it is important both from an operational and a strategic perspective as we move our products and programs toward approval," said James A. Bianco, M.D., CEO of CTI. "With excellent phase III data for pixantrone for aggressive relapsed non-Hodgkin's lymphoma we plan to complete the New Drug Application (NDA) submission in the second quarter of 2009 and we believe that this product would truly make a significant impact on this difficult to treat patient population. While we now have approval for additional authorized shares, we intend to continue to pursue product partnerships to generate operating capital."
This press release includes forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results. Specifically, the risks and uncertainties that could affect the development of pixantrone include risks associated with preclinical and clinical developments in the biopharmaceutical industry in general and with pixantrone in particular, including, without limitation, our ability to submit an NDA in the first half of 2009 f
|SOURCE Cell Therapeutics, Inc.|
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