BERKELEY HEIGHTS, N.J., March 31, 2011 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (Nasdaq:CYCC) (Nasdaq:CYCCP) (Cyclacel or the Company), announced today that the Company’s consolidated financial statements as of and for the year ended December 31, 2009 and quarterly consolidated financials statements for each of the three months ended March 31, June 30 and September 30, 2010 (the “Financial Statements”) contained in its Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2011 (the “Annual Report”) have been restated to correct an error with respect to the recognition of undeclared cumulative preferred stock dividends as it relates to the payment of dividends on the Company’s 6% Convertible Exchangeable Preferred Stock (the “Preferred Stock”) and disclosures in the consolidated balance sheets and consolidated statement of stockholders’ equity related to the dividends on the Preferred Stock.
