Rochester, NY 8/22/2009 7:15:45 AM
Cell Therapeutics, Inc., CTIC , Cell Therapeutics to Sell $30 Million in Preferred Stocks and Warrants
Cell Therapeutics, Inc.
Cell Therapeutics Inc., a biotechnology company recently announced that it agreed to sell $30 million in preferred stock and warrants to an undisclosed institutional investor.
The money generated from the deal is to be used for working capital and to pay interest on and pay off portions of outstanding debt. It will also fund research and development along with clinical trials.
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