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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) February 28, 2000
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CELL THERAPEUTICS, INC.
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(Exact name of registrant as specified in charter)
Washington 0-28386 91-1533912
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
201 Elliott Avenue West, Suite 400, Seattle, WA 98119
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (206) 270-7100
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NOT APPLICABLE
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(Former name or former address, if changed since last report.)
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Item 2. Acquisition or Disposition of Assets
On February 17, 2000, Cell Therapeutics, Inc. (the "Company") completed an
offering of 3.33 million shares of common stock at a price of $12 per share
raising gross proceeds of $40 million. Investors in the offering included
Proquest Investments LP, Vulcan Ventures Northwest, Icahn Associates, PIMCO
Equity Advisors and Essex Woodlands Healthcare Ventures.
(c) Exhibits
99.1 Press release dated February 17, 2000.
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SIGNATURE
Pursuant to the requirements of the Securities Act of 1934, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
CELL THERAPEUTICS, INC.
Date: February 28, 2000 /s/ JAMES A. BIANCO
Name: James A. Bianco
Title: Chief Executive Officer
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EXHIBIT INDEX
99.1 Press release dated February 17, 2000.
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[LETTERHEAD OF CTI]
FOR IMMEDIATE RELEASE FOR MORE INFORMATION:
James A. Bianco, M.D.
Cell Therapeutics, Inc.
(206)282-7100 or 800-664-CTIC
[email protected]
www.cticseattle.com
or Susan Callahan
KNCB/Dave
206-794-4706
[email protected]
cti Raises $40 Million in Private Placement
Financing Provides Fuel for Projected New Product Launch and
Advancement of Oncology Portfolio
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February 17, 2000 SEATTLE--Cell Therapeutics, Inc. (cti) (NASDAQ: CTIC)
announced completion of an offering of 3.33 million shares of common stock at a
price of $12 per share raising gross proceeds of $40 million. Investors in the
offering included: Proquest Investments LP, Vulcan Ventures Northwest, Icahn
Associates, PIMCO Equity Advisors and Essex Woodlands Healthcare Ventures.
The common stock has not been registered under the 1933 Securities Act and may
not be offered or sold in the United States absent an effective registration
statement. Paramount Capital, Inc. acted as financial advisor.
"This infusion of capital should enable the Company to file the NDA for arsenic
trioxide (ATO) and to meet our launch objectives for this product while
advancing the development of our other oncology products, PG-TXL and Apra," said
James A. Bianco, MD, president & CEO of cti..
cti is committed to discovering, developing and bringing to market innovative
treatments for cancer.
This announcement includes forward-looking statements that involve a number of
risks and uncertainties, the outcome of which could materially adversely affect
actual future results. Specifically, the risks and uncertainties that could
affect the development of cti's products under development include risks
associated with preclinical and clinical developments in the biotechnology
industry in general and of cti's products under development in particular
(including, without limitation, the potential failure of ATO, Apra (CT-2584) and
PG-TXL, and related compounds to prove safe and effective for treatment of
disease), determinations by regulatory, patent and administrative governmental
authorities, competitive factors, technological developments, costs of
developing, producing and selling cti's products under development, and the risk
factors listed or described from time to time in the Company's filings with the
Securities and Exchange Commission including, without limitation, the Company's
most recent filings on Forms 10-K, 8-K and 10-Q.
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