Tuesday, April 14, 2009

Cell Therapeutics Gets $15M In PIPE

Cell Therapeutics announced late Monday that an institutional investor has purchased $15 million of Series 1 Preferred Stock and associated warrants and might buy up to $5 million more within the next 60 days. CTI, which develops therapies and drugs for cancer treatment, declined to identify its investor. The Seattle-based firm also said it has reacquired or agreed to reacquire all outstanding shares of its Series A 3% Convertible Preferred Stock and Series D 7% Preferred Stock in exchange for shares of common stock.