So I have gotten a lot of questions about whether or not I think Cell Therapeutics will effect a reverse stock split or if they will need to raise capital. So per my last post back at the beginning of July I briefly went through their financing situation. Here it is:

According to their latest filing the company had approximately $69.7million of cash in the coffers before paying back the $39 million on July 1, 2010. With that payment that would leave them with approximately $30 million in cash and about $21 million in debt due in 2011. Per the conference call back in May the company was burning about $4 million a month. Yesterday, Cell Therapeutics said that they had managed to raise another $4.06 million in the form of preferred shares. Given that the company said they were burning about $4 million a month, I would estimate that they have somewhere in the range of about $30-26 million in cash still on hand and they probably still have about $21 million in debt left due to pay next year.

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