BERKELEY HEIGHTS, N.J., April 8, 2009 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (Nasdaq:CYCC) (Nasdaq:CYCCP) (the “Company”) announced that its Board of Directors passed a resolution to suspend payment of but continue to accrue the quarterly cash dividend on the Company’s 6% Convertible Exchangeable Preferred Stock. Following this measure, along with previously announced reductions in expenditure, the Company projects its cash resources are sufficient to fund operations into the second quarter of 2010. The Board of Directors will continue to evaluate the payment of a quarterly cash dividend on a quarterly basis.
