Filed pursuant to
Rule 424(b)(3)
Commission File No. 333-67906
PROSPECTUS SUPPLEMENT DATED JUNE 14, 2002
(TO PROSPECTUS DATED NOVEMBER 9, 2001)
$175,000,000
CELL THERAPEUTICS, INC.
5.75% Convertible Subordinated Notes due June 15, 2008
and the common stock issuable upon conversion of the notes
This Prospectus Supplement supplements the Prospectus dated November 9,
2001 (the "Prospectus") of Cell Therapeutics, Inc. ("CTI") relating to the
public offering, which is not being underwritten, and sale by certain
noteholders of CTI or by pledgees, donees, transferees or other successors in
interest that receive such notes as a gift, partnership distribution or other
non-sale related transfer (the "Selling Securityholders") of up to $175,000,000
of 5.75% convertible subordinated notes of CTI (the "Notes"). This Prospectus
Supplement should be read in conjunction with the Prospectus, and this
Prospectus Supplement is qualified by reference to the Prospectus except to the
extent that information herein contained supersedes the information contained in
the Prospectus. Capitalized terms used in this Prospectus Supplement and not
otherwise defined herein have the meanings specified in the Prospectus.
SELLING SECURITYHOLDER
Recently, Viacom Inc. Pension Plan Master Trust acquired $48,000 of
Notes, which they intend to sell under the Prospectus. The following table
provides certain information with respect to the amount of Notes beneficially
owned by Viacom Inc. Pension Plan Master Trust, the percentage of outstanding
Notes and CTI common stock this represents, and the amount of Notes to be
registered for sale hereby. The table of Selling Securityholders in the
Prospectus is hereby amended to add the following:
---------------
Principal Amount at
Maturity of Notes Percentage of Number of Shares Percentage of
Beneficially Owned that Notes of Common Stock Common Stock
Name of Selling Securityholder may be sold Outstanding that may be sold(1) Outstanding (2)(3)
----------------------------------- ----------------------- --------------- ------------------- ------------------
Viacom Inc. Pension Plan Master
Trust.............................. $48,000 * 1,411 *
----------------------
* Less than 1%.
(1) Assumes conversion of all of the holder's notes at a conversion price
of approximately $34.00 per share of common stock. However, this
conversion price will be subject to adjustment as described in the
Prospectus under "Description of Notes--Conversion Rights." As a
result, the amount of common stock issuable upon conversion of the
notes may increase or decrease in the future.
(2) Calculated based on Rule 13d-3(d)(1)(i) of the Exchange Act using
35,101,654 shares of common stock outstanding as of March
31, 2002.
(3) Assumes that any other holders of notes, or any future transferees,
pledgees, donees or successors of or from any such other holders of
notes, do not beneficially own any common stock other than the common
stock issuable upon conversion of the notes at the initial conversion
rate.