Cell Therapeutics, Inc. (CTI) Reports Second Quarter 2005 Financial Results.
PR Newswire Europe, August, 2005
SEATTLE, August 9 /PRNewswire/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq: CTIC; Nuovo Mercato: CTIC) reported financial results for the quarter ended June 30, 2005. Total revenues for the quarter were US$7.5 million compared to US$8.3 million in the second quarter of 2004. Net product sales for TRISENOX(R) (arsenic trioxide) were US$7.4 million compared to US$7.9 million for the same period in 2004. As announced in July, CTI divested TRISENOX and certain proteasome inhibitor assets to Cephalon for approximately US$68.5 million in cash, subject to a post-closing working capital adjustment, and up to an additional US$100 million for potential future regulatory and sales milestones. The gross up front proceeds from the transaction, prior to closing costs, are...
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