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Cell Therapeutics Cuts 36 Employees

Cell Therapeutics (NASDAQ: CTIC), the Seattle-based biotech company, said it has cut 36 jobs to conserve cash. The move comes less than a week after the company’s application to sell a new drug for non-Hodgkin’s lymphoma was rejected by the FDA. The company says it now expects to spend about $60 million on operations this year, down 21 percent from its previous forecast.