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Biotech's shares registered with SEC, but won't be listed on any exchange
Thwarted in its plans for a June initial public offering, Cell Therapeutics Inc. is nonetheless becoming a public company.
The Seattle biotechnology company, which has amassed more private financing than any other biotech in the region, has filed with the Securities and Exchange Commission to register the 17 million shares already owned by its 520 stockholders.
That will free those investors to trade Cell Therapeutics shares, and will require the company to submit quarterly and annual reports. It also means the company will bear the burden of SEC compliance and the vicissitudes of the …