After receiving a letter from The NASDAQ Stock Market, Cell Therapeutics, Inc. (CTI) has announced once again it complies with the minimum bid price requirement for continued listing on The NASDAQ Global Market

The company as yet has not regained compliance with NASDAQ Marketplace Rule 4450(b)(1) requiring a minimum market value of listed securities of $50 million in the time period provided by The NASDAQ Stock Market, but is working to achieve it and has until October 6, 2008 to do so. If they cannot do so, they will then meet with a NASDAQ Listing Qualifications Panel to present a compliance plan.

CTI is a biopharmaceutical company committed to developing an integrated portfolio of oncology products aimed at making cancer more treatable. The company is developing OPAXIO(TM) (paclitaxel poliglumex, CT-2103; formerly known as XYOTAX) that conjugates paclitaxel to the biodegradable polymer polyglutamate.

Source: Cell Therapeutics, Inc.