Cell Therapeutics, Inc. recently reviewed its 2008 accomplishments and 2009 targeted milestones in meetings held with the JP Morgan Healthcare Conference in San Francisco. Today the company shared the details of those meetings with the investment community.

“With a focus on cutting-edge oncology drug products, CTI aims to complete its transition from a research-based organization to a leading commercial oncology company,” stated James A. Bianco, M.D., CEO of Cell Therapeutics. “In 2008 we set the stage for becoming a multi-product commercial oncology operating company, with Zevalin currently under priority review by the FDA in the U.S. for label expansion, OPAXIO(TM) under review for market authorization application approval in Europe and, based on positive Phase III data for pixantrone, we expect to file a rolling NDA in 2009.

Additionally, we continue to focus on improving our capital structure, streamlining our operations and significantly reducing our cash burn rate. With potential approval of pixantrone and OPAXIO in 2009, and potential sales revenue growth due to possible Zevalin label expansion, we are on target to accomplish our goal of reaching cashflow break-even in the fourth quarter of 2009,” Bianco added.

To view a detailed list of targeted milestones for 2009 as well as a comprehensive review of the major accomplishments of 2008, visit http://phx.corporate-ir.net/phoenix.zhtml?c=92775&p=irol-pressRoomArticle&ID=1244264