FDA Plays

[colorofmoney]

Cell Therapeutics Inc. (NASDAQ : CTIC), $1.34 , +0.17, 14.53%, traded in the range of 1..18 and 1.40 closing the day on gains of 14.53%. Cell Therapeutics just announced that it has entered into an agreement to sell $30 million of shares of its Series 3 Preferred Stock
and warrants to purchase shares of its common stock in a registered offering. Each share of Series 3 Preferred Stock is convertible into approximately 823 shares of common stock at a conversion price of $1.21375 per share of common stock, for a total of approximately 24,690,000 common shares. Cell Therapeutics is a biopharmaceutical industry leader with a focus on oncology drugs