BERKELEY HEIGHTS, N.J., May 13, 2010 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (Nasdaq:CYCC) (Nasdaq:CYCCP) (the “Company”), a biopharmaceutical company developing oral therapies that target the various phases of cell cycle control for the treatment of cancer and other serious disorders, today announced that the Company’s consolidated financial statements as of and for the year ended December 31, 2009 (the “Financial Statements”) contained in its Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 29, 2010 (the “Annual Report”) will be restated to correct an error in calculating the net loss per share 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 statements of cash flows related to the dividends on the Preferred Stock.
