DALLAS, May 26, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Cell Therapeutics Inc. (Nasdaq:CTIC). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: www.microstockprofit.com/ads/CTIC
Cell Therapeutics Inc. (CTIC) develops, acquires and commercializes treatments for cancer. It focuses on building a biopharmaceutical company with a diversified portfolio of oncology drugs. Its research, development, acquisition and in-licensing activities concentrate on identifying and developing less toxic ways to treat cancer. The Company is focused on developing pixantrone, OPAXIO, brostallicin and bisplantinates. Pixantrone is an anthracycline derivative, for the treatment of non-Hodgkin's lymphoma (NHL), and various other hematologic malignancies, solid tumors and immunological disorders. The Company is developing OPAXIO (paclitaxel poliglumex), a maintenance therapy for women with advanced stage ovarian cancer. Brostallicin is a synthetic Deoxyribonucleic Acid (DNA) minor groove binding agent that has demonstrated anti-tumor activity. In March 2009, the Company sold its 50% interest in RIT Oncology.
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In the report, the analyst notes:
"For the quarter ended March 31, 2010, total net operating expenses were $25.8 million compared to $6.6 million for the same period in 2009. The increase in total net operating expenses is mainly a result of expenses related to preparation for the potential pixantrone regulatory approval in the United States and Europe, a $7.8 million non-cash equity-based compensation expense recognized in 2010, and a $10.2 million gain on the sale of the Company's investment in the Zevalin joint venture that was recognized in 2009.
"CTIC recently announced that phase II study results from Brown University will be presented by Kimberly Perez, M.D., Hematology/Oncology Fellow with the Warren Alpert School of Medicine of Brown University, at the American Society of Clinical Oncology Annual Meeting in Chicago, Illinois, on Sunday, June 6, 2010."
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