Cell Therapeutics, Inc. (CTIC) (CTI) Reduces Net Loss for Third Quarter and Nine Months Ended September 30, 2012 Compared to Same Periods in 2011
11/1/2012 10:01:50 AM
SEATTLE, Nov. 1, 2012 /PRNewswire/ -- Cell Therapeutics, Inc. ("CTI" or the "Company") (NASDAQ and MTA: CTIC) today reported financial results for the third quarter of 2012 and recent accomplishments.
Third Quarter Results
For the quarter ended September 30, 2012, total operating expenses were $14.7 million compared to $15.3 million for the same period in 2011. Net loss attributable to common shareholders was $20.2 million ($0.38 per share) for the quarter ended September 30, 2012 compared to a net loss attributable to common shareholders of $29.7 million ($0.80 per share) for the same period in 2011. The decrease in net loss attributable to CTI's common shareholders is primarily due to a decrease in non-cash deemed dividends on preferred stock issuances. The decline in dividends and deemed dividends on preferred stock between the comparable periods is attributable to the total dollar amounts of the equity offerings completed.
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