March 1 Shares of Cell Therapeutics (CTIC.O)
fell about 9 percent before the bell Monday, after the company
said late Friday that its auditors had expressed "substantial
doubt" about its ability to continue as a going concern.
In its 2009 annual report filed with the U.S. Securities
and Exchange Commission, the company said it does not expect
that its existing cash and equivalents will provide sufficient
working capital to fund operations through the third quarter of
As of Dec. 31, the company had cash and equivalents of
Last month, U.S. drug reviewers questioned effectiveness
data for the company's experimental lymphoma drug and said the
medicine had substantial side effects. [ID:nN05157497]
Shares of Cell Therapeutics were trading at 61 cents before
the bell, down from Friday's close of 67 cents on Nasdaq.
(Reporting by Jennifer Robin Raj in Bangalore; Editing by Mike