Cell Therapeutics, Inc. (CTI) (Nasdaq and MTA: CTIC) today reported recent achievements and financial results for the third quarter and nine months ended September 30, 2009, which included a 45% decrease in the net loss attributable to common shareholders for the nine month period in 2009 compared to the same period in 2008. The Company had approximately $55.0 million in cash and cash equivalents as of September 30, 2009.
"While we have started to prepare for the launch of pixantrone in 2010 with the recruitment of key commercial personnel and conducting important market research, we remained focused on tight fiscal controls while continuing to clean-up our balance sheet," said James A. Bianco, M.D., CEO of the Company. "We are pleased with our continued financial progress demonstrating a decrease in net loss of 45% for the nine months in 2009 compared to the same period for 2008," noted Dr. Bianco. "With the recent developments and progress we are making in advancing pixantrone through its New Drug Application (NDA) review process we expect the next 3 to 6 months to be an exciting and transformative period for the Company."
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