SEATTLE, Nov. 14 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI)
(Nasdaq and MTAX: CTIC) reported financial results for the third quarter
ended September 30, 2005. Total revenues for the quarter were $1.3 million,
including TRISENOX(R) net sales of $1.2 million, which were recorded prior
to the closing of the divestiture to Cephalon on July 18. CTI reported a net
loss for the quarter of $8.5 million ($0.13 per share), after giving effect
to a gain of $30.5 million on TRISENOX divestiture, compared to a net loss
of $34.9 million ($0.62 per share) for the same period in 2004. The Company
ended the quarter with approximately $41 million in cash and cash
equivalents, securities available-for-sale, and interest receivable

"We are pleased to see the positive impact our refocusing efforts are having
on both cost reductions and the efficiency of our operations in our Seattle
and Bresso facilities. The Company is focused on our regulatory filings for
XYOTAX and advancing pixantrone to the phase III interim analysis, two
important milestones for CTI in 2006," stated James A. Bianco, M.D.,
President and CEO of CTI. "With a reduced burn rate, achievable development
goals, and a strengthened balance sheet, this has been a very productive
quarter."