8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report: (Date of earliest event reported): July 2, 2010

CELL THERAPEUTICS, INC.

(Exact name of registrant as specified in its charter)

Washington	001-12465	91-1533912
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification Number)

501 Elliott Avenue West, Suite 400

Seattle, Washington 98119

(Address of principal executive offices)

Registrant’s telephone number, including area code: (206) 282-7100

Not applicable

(Former name or former address, if changed since last report).

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure.

On July 2, 2010, Cell Therapeutics, Inc. (the “Company”) issued a press release entitled “Cell Therapeutics Provides Information about its Reserved Shares at Request from CONSOB.” An English translation of the press release is furnished and not filed pursuant to Item 7.01 as Exhibit 99.1 hereto.

The information provided pursuant to this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing or other document filed by the Company pursuant to the Exchange Act or the Securities Act of 1933, as amended, whether made before or after the date hereof and regardless of any general incorporation language in such filings or documents, except to the extent expressly set forth by specific reference in such a filing or document. The information furnished pursuant to this Item 7.01 shall instead be deemed “furnished.”

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibit is furnished with this report on Form 8-K:

Exhibit Number	Description
99.1	Press Release, dated July 2, 2010, entitled “Cell Therapeutics Provides Information about its Reserved Shares at Request from CONSOB.”

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CELL THERAPEUTICS, INC.
Date: July 2, 2010	By:	/s/    LOUIS A. BIANCO
		Louis A. Bianco
		Executive Vice President, Finance and Administration

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press Release, dated July 2, 2010, entitled “Cell Therapeutics Provides Information about its Reserved Shares at Request from CONSOB.”

EX-99.1

Exhibit 99.1

501 Elliott Ave. W. #400 Seattle, WA 98119 T 206.282.7100 F 206.284.6206

Cell Therapeutics Provides Information about its Reserved

Shares at Request from CONSOB

July 2, 2010 Seattle—Cell Therapeutics, Inc. (the “Company”) (NASDAQ and MTA: CTIC) provides hereinbelow information at request from CONSOB.

As disclosed in the Company’s July 1, 2010 press release, the Company had, as of June 29, 2010, 11.6 million unreserved shares and 74.9 million reserved shares.

The Company’s unreserved shares are available for financings, subject to, among other things, approval by the Company’s Board of Directors (the “Board of Directors”). If the Company elects to raise additional capital by issuing additional shares, there can be no assurance that it will be able to do so on terms that are favorable to the Company or at all.

The aforesaid total number of 74.9 million shares is composed of the following amounts:

1) approximately 34.4 million shares are reserved under the Company’s 2007 Equity Incentive Plan in favor of employees and directors of the Company, of which 0.9 million shares are reserved for stock options already granted and 33.5 million shares are reserved for future grants of stock options (such amount is not freely available for financings and can not be released by a simple resolution of the Board of Directors);

2) approximately 1.5 million shares are reserved under the Company’s 2007 Employee Stock Purchase Plan for the Company’s employees (such amount is not freely available for financings and can not be released by a simple resolution of the Board of Directors);

3) approximately 39 million shares are reserved for issuance upon exercise of previously issued warrants and convertible notes—there can be no assurance that the holders of the warrants will exercise their warrants.

www.celltherapeutics.com

About Cell Therapeutics, Inc.

Headquartered in Seattle, the Company is a biopharmaceutical company committed to developing an integrated portfolio of oncology products aimed at making cancer more treatable. For additional information, please visit www.celltherapeutics.com.

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This press release includes forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results and the trading price of the Company’s securities. Specifically, the risks and uncertainties that that may impact the Company, include that the Company may not use its unreserved or reserved shares available for financings and even if the Company undertakes a financing(s) with such shares, the Company cannot make any guarantees or assurances that the terms of such financing(s) will be on favorable terms to the Company, and the risk factors listed or described from time to time in the Company’s filings with the Securities and Exchange Commission including, without limitation, the Company’s most recent filings on Forms 10-K, 10-Q and 8-K. Except as may be required by law, the Company does not intend to update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.

www.celltherapeutics.com