Cyclacel Pharmaceuticals Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. Net loss for the quarter was $3.1 million or $0.13 per basic and diluted share. This compared to a net loss of $17.6 million or $0.86 loss per basic and diluted share for the same period in 2008. Total revenues for the third quarter of 2009 were $0.2 million representing a decrease of 14% compared to $0.3 million for the same period in 2008. These revenues were mainly attributable to sales of the Xclair(r) and Numoisyn(r) products. Loss before tax was $3,329,000 against $18,058,000 for the same period a year ago. For the nine months total revenues were $0.7 million representing an increase of 16% compared to $0.6 million for the same period in 2008. These revenues were mainly attributable to sales of the Xclair(R) and Numoisyn(R) products. Other income for the nine months ended September 30, 2009 showed an expense of $2.0 million as compared to $0.4 million for the same period in 2008. The company reported a net loss of $15.2 million or $0.71 per basic and diluted share, compared to a net loss for the same period in 2008 of $32.4 million or $1.59 per basic and diluted share. Loss before tax was $16,029,000 against $33,954,000 for the same period a year ago.

Cyclacel Pharmaceuticals, Inc. announced that it received a NASDAQ Staff Deficiency Letter on October 27, 2009 indicating that the Company fails to comply with the minimum bid price requirement for continued listing set forth in Marketplace Rule 5450(a)(1). The letter gives Cyclacel notice that the Company’s bid price of its common stock has closed under $1.00 for the last 30 business days. The NASDAQ notice has no effect on the listing of the Company’s common stock at this time. Pursuant to NASDAQ Marketplace Rule 5810(c)(3)(A), the Company has an initial period of 180 calendar days, or until April 26, 2010, to regain compliance. The letter states the NASDAQ staff will provide written notification that the Company has achieved compliance with Rule 5450(a)(1) if at any time before April 26, 2010, the bid price of the Company’s common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days. If the Company cannot demonstrate compliance with Rule 5450(a)(1) by April 26, 2010, it may transfer its listing to The NASDAQ Capital Market if it meets the initial listing criteria set forth in NASDAQ Marketplace Rule 5505, except for the bid price requirement. In that case, it may have an additional 180 calendar day compliance period in which to comply with the minimum bid price requirement. The Company currently meets these initial listing criteria. Otherwise, the NASDAQ staff may begin the process to have the Company’s securities delisted. At that time, the Company may appeal the NASDAQ staff’s determination to delist its securities to a Listing Qualifications Panel.

Cyclacel Pharmaceuticals Inc. announced topline survival data for the primary endpoint of the Phase 2 study of sapacitabine as a treatment for elderly patients aged 70 or older with either newly diagnosed acute myeloid leukemia (AML) or AML in first relapse. The study was a three-arm randomized trial evaluating three dosing schedules of sapacitabine. The primary endpoint of 1-year survival is approximately 30% each on two out of the three schedules tested. Details of the results from this study will be presented at an upcoming medical conference. Survival in elderly patients aged 70 or older with newly diagnosed AML remains poor. A recent, randomized study comparing tipifarnib, an investigational drug with a different mechanism to sapacitabine, with best supportive care in this population reported 1-year survival of 15% for the tipifarnib arm and 18% for the best supportive care arm e\(Harousseau JL, et al, Blood, 2009 01:19:8093).