Zevalin financials: profitability = availability

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Cell Therapeutics, Inc.'s Second Quarter 2008 Financial Results

Zevalin® net sales of $15 million in 2008 on target; Potential label

expansion could further drive sales

SEATTLE, Aug. 18 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI)

reported financial results for the quarter ended June 30, 2008. Total

revenues for the quarter were $2.9 million compared to $20,000 for the

second quarter of 2007 due primarily to sales of Zevalin® (Ibritumomab

Tiuxetan), a commercial radiopharmaceutical that CTI acquired in December

2007.

Net product sales of Zevalin reached $2.9 million in the second quarter of

2008.

" Given recent sales trends and growing physician interest, as well as recent

Congressional action to extend reimbursement rates for Zevalin, we believe

we are on track to reach $15 million in annual net sales for Zevalin this

year, " said A. Bianco, M.D., CEO of CTI.

" Furthermore, potential expansion of the label for Zevalin based upon data

we recently obtained from Bayer Schering Pharma's First-line Indolent Trial

(FIT) could support future sales growth. In addition to our progress with

Zevalin, we now have OPAXIO's Marketing Authorization Application under

review in Europe and expect results from our phase III pixantrone trial in

the fourth quarter. "

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http://www.pharmalive.com:80/News/index.cfm?articleid=564494 & categoryid=36%2C61