CTI granted additional 180 days to regain compliance with NASDAQ minimum bid price rule

Cell Therapeutics, Inc. ("CTI") (Nasdaq and MTA: CTIC) today announced that The NASDAQ Stock Market ("NASDAQ") has granted CTI an additional 180 days to regain compliance with NASDAQ's $1.00 minimum bid price rule under NASDAQ Marketplace Rule 5550(a)(2)). Previously, on May 3, 2010, CTI was notified by NASDAQ that CTI did not meet the minimum bid price rule required for continued listing and was provided until November 1, 2010 to achieve compliance.

CTI may achieve compliance during the 180-day period if the closing bid price of CTI's common stock is at least a $1.00 per share for a minimum of 10 consecutive business days before May 2, 2011.