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CTI BioPharma (CTIC) Submits End-of-Month Financials for June 2016

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June 30, 2016 4:52 PM EDT

CTI BioPharma (Nasdaq: CTIC) is providing the information herein pursuant to a request from the Italian securities regulatory authority, CONSOB, pursuant to Article 114, Section 5 of the Italian Legislative Decree no. 58/98, that the Company issue at the end of each month a press release providing a monthly update of certain information relating to the Company’s financial situation. However, the Company also directs its Italian shareholders to the Italian language section of its website at www.ctibiopharma.com/italiano, where more complete information about the Company and its products and operations, including press releases issued by the Company, as well as the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), can be found. The information provided below is qualified in its entirety by reference to such information. Please note that all the information disclosed in this press release primarily refers to the period May 1, 2016 through May 31, 2016, except as otherwise expressly noted.

A)
Provisional Estimated and Unaudited Net Financial Position of CTI Parent Company and CTI Consolidated Group, presenting the current and non-current components separately
Provisional Estimated and Unaudited Net Financial Position of CTI Parent Company
The following table reports the estimated and unaudited net financial standing of CTI Parent Company as of May 31, 2016, including a separate indication of the total estimated financial amount of bank debt expiring less than 12 months ahead (current portion).
Estimated and Unaudited Net Financial Standing
May 31, 2016
(in USD thousands)
Cash and cash equivalents
82,922
Long-term obligations, current portion
(1,767)
Long-term debt, current portion
(7,425)
Estimated and unaudited net financial standing, current portion
73,730
Long-term obligations, less current portion
(4,007)
Long-term debt, less current portion
(16,026)
Estimated and unaudited net financial standing, less current portion
(20,033)
Estimated and unaudited net financial standing
53,697
The total estimated and unaudited net financial standing of CTI Parent Company as of May 31, 2016 was $53.7 million.
Provisional and Unaudited Estimated Net Financial Position of CTI Consolidated Group
The following table reports the estimated and unaudited net financial standing of CTI Consolidated Group as of May 31, 2016, including a separate indication of the total estimated financial amount of bank debt expiring less than 12 months ahead (current portion).
Estimated and Unaudited Net Financial Standing
May 31, 2016
(in USD thousands)
Cash and cash equivalents
84,315
Long-term obligations, current portion
(1,767)
Long-term debt, current portion
(7,425)
Estimated and unaudited net financial standing, current portion
75,123
Long-term obligations, less current portion
(4,011)
Long-term debt, less current portion
(16,026)
Estimated and unaudited net financial standing, less current portion
(20,037)
Estimated and unaudited net financial standing
55,086
The total estimated and unaudited net financial standing of CTI Consolidated Group as of May 31, 2016, was $55.1 million.
B)
Due payables, recorded by category (financial, trade, tax, social security and amounts due to employees) and any associated actions by creditors (solicitations, injunctions, suspended deliveries, etc.) as of May 31, 2016
CTI Parent Company trade payables outstanding for greater than 30 days were approximately $11.4 million as of May 31, 2016.
CTI Consolidated Group trade payables outstanding for greater than 30 days were approximately $12.6 million as of May 31, 2016.
During May 2016, there were solicitations for payment only within the ordinary course of business and there were no injunctions or suspensions of supply relationships that affected the course of normal business.
Except as disclosed herein, as of May 31, 2016, there were no amounts overdue of a financial or tax nature, or amounts overdue to social security institutions or overdue to employees.
C)
Disclosures on related-party transactions
During May 2016, there were no transactions with related parties other than those included in the table below and transactions between entities within CTI Consolidated Group. Intercompany transactions are considered ordinary operating activities and are eliminated in consolidation. During May 2016, there were no atypical or unusual intercompany transactions between entities within CTI Consolidated Group to report. The following table reports related party transactions including key management personnel compensation for their service to the applicable entity within CTI Consolidated Group as of May 31, 2016 and for the one month ended May 31, 2016, (as a percentage of the applicable category for CTI Consolidated Group):
As of May 31, 2016
1-month ended May 31, 2016
Assets
Liabilities
Revenues
Operating
Expenses
Transactions with related parties (as a percentage of the applicable category for CTI Consolidated Group)
__
__
__
3.4%
D)
Information about the number of shares issued
During the month of May 2016, the Company’s common stock, no par value (the “Common Stock”), outstanding decreased by 117,831 shares. As a result, the number of issued and outstanding shares of Common Stock as of May 31, 2016 was 282,812,236.

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