SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ____)*
Cell Therapeutics, Inc.
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(Name of Issuer)
Common Stock, no par value
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(Title of Class of Securities)
150934107
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(CUSIP Number)
December 31, 2003
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(Date of Event Which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
/X/ Rule 13d-1(b)
/ / Rule 13d-1(c)
/ / Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
CUSIP No. 150934107
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| 1 | NAMES OF REPORTING PERSONS: Shaker Investments, L.L.C. |
| | |
| | I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 34-1970851 |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [ ] |
| | ----- |
| | (b) [ ] |
| | ----- |
|-----|---------------------------------------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|-----|---------------------------------------------------------------------------------------------------|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION: |
| | |
| | Delaware |
|-------------------------------|-------|-----------------------------------------------------------------|
| Number of | 5 | SOLE VOTING POWER: |
| | | |
| Shares | | 1,647,974 |
| |-------|-----------------------------------------------------------------|
| Beneficially | 6 | SHARED VOTING POWER: |
| | | |
| Owned by | | None |
| |-------|-----------------------------------------------------------------|
| Each | 7 | SOLE DISPOSITIVE POWER: |
| | | |
| Reporting | | 2,114,921 |
| |-------|-----------------------------------------------------------------|
| Person With: | 8 | SHARED DISPOSITIVE POWER: |
| | | |
| | | None |
|-------------------------------|-------|-----------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: |
| | |
| | 2,114,921 |
| | --------------------------------------------------------------------------------------------------|
| | Pursuant to Section 240.13d-4 of the Act, the filing of this |
| | Schedule 13G shall not be construed as an admission that the |
| | reporting person is, for purposes of Section 13(d) or 13(g) |
| | of the Act, the beneficial owner of any of the securities covered |
| | by this Schedule 13G. |
|-----|---------------------------------------------------------------------------------------------------|
| 10 | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES: |
| | [ ] |
| | ----- |
|-----|---------------------------------------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): |
| | |
| | 6.2% (See Note 1) |
|-----|---------------------------------------------------------------------------------------------------|
| 12 | TYPE OF REPORTING PERSON: |
| | |
| | IA |
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*Note 1: This percentage is based on 34,000,689 shares of Common Stock (no par
value) outstanding as of November 5, 2003 as reported in the Form 10-Q
of Cell Therapeutics, Inc. for the quarter ended September 30, 2003.
(end of cover page)
ITEM 1(a) NAME OF ISSUER:
Cell Therapeutics, Inc.
ITEM 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
501 Elliott Avenue West, Suite 400
Seattle, Washington 98119
ITEM 2(a) NAME OF PERSON FILING:
Shaker Investments, L.L.C.
ITEM 2(b) ADDRESS OF PRINCIPAL OFFICE OR, IF NONE, RESIDENCE:
One Chagrin Highlands
2000 Auburn Drive, Suite 300
Cleveland, Ohio 44122
ITEM 2(c) CITIZENSHIP:
See Item 4 of cover page.
ITEM 2(d) TITLE OF CLASS OF SECURITIES:
Common Stock, no par value
ITEM 2(e) CUSIP NUMBER:
150934107
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS
240.13d-1(b) OR 240.13d-2(b) OR (c), CHECK WHETHER
THE PERSON FILING IS A:
(a) / / BROKER OR DEALER REGISTERED UNDER SECTION 15 OF THE ACT;
(b) / / BANK AS DEFINED IN SECTION 3(a)(6) OF THE ACT;
INSURANCE COMPANY AS DEFINED IN SECTION 3(a)(19) OF
THE ACT;
(c) / / INSURANCE COMPANY REGISTERED UNDER SECTION 8 OF THE
INVESTMENT COMPANY ACT OF 1940;
(d) / / INVESTMENT COMPANY REGISTERED UNDER SECTION 8 OF THE
INVESTMENT COMPANY ACT OF 1940;
(e) /X/ AN INVESTMENT ADVISER IN ACCORDANCE WITH SECTION
240.13d-1(b)(1)(ii)(E);
(f) / / AN EMPLOYEE BENEFIT PLAN OR ENDOWMENT FUND IN
ACCORDANCE WITH SECTION 240.13d-1(b)(1)(ii)(F);
(g) / / A PARENT HOLDING COMPANY OR CONTROL PERSON IN
ACCORDANCE WITH SECTION 240.13d-1(b)(1)(ii)(G);
(h) / / A SAVINGS ASSOCIATION AS DEFINED IN SECTION 3(b) OF
THE FEDERAL DEPOSIT INSURANCE ACT;
(i) / / A CHURCH PLAN THAT IS EXCLUDED FROM THE DEFINITION OF
AN INVESTMENT COMPANY UNDER SECTION 3(c)(14) OF THE
INVESTMENT COMPANY ACT OF 1940;
(j) / / GROUP, IN ACCORDANCE WITH SECTION
240.13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP.
(a) AMOUNT BENEFICIALLY OWNED: See Item 9 of
cover page.
(b) PERCENT OF CLASS: See Item 11 of cover page.
(c) NUMBER OF SHARES AS TO WHICH SUCH PERSON
HAS:
(i) SOLE POWER TO VOTE OR TO DIRECT THE VOTE:
See Item 5 of cover page.
(ii) SHARED POWER TO VOTE OR TO DIRECT THE VOTE:
None.
(iii) SOLE POWER TO DISPOSE OR TO DIRECT THE
DISPOSITION OF:
See Item 7 of cover page.
(iv) SHARED POWER TO DISPOSE OR TO DIRECT THE
DISPOSITION OF:
None.
ITEM 5. OWNERSHIP OF 5 PERCENT OR LESS OF A CLASS.
If this statement is being filed to report the fact
that as of the date hereof the reporting person has
ceased to be the beneficial owner of more than 5
percent of the class of securities, check the
following: / /
ITEM 6. OWNERSHIP OF MORE THAN 5 PERCENT ON BEHALF OF ANOTHER
PERSON.
The Reporting Person exercises discretionary
authority as an investment adviser on behalf of
various clients none of which to the best of the
knowledge of the Reporting Person holds more than
five percent of the class of securities.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY
WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY
THE PARENT HOLDING COMPANY.
Not Applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not Applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not Applicable.
ITEM 10. CERTIFICATION.
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to
above were acquired and are held in the ordinary
course of business and were not acquired and are not
held for the purpose of or with the effect of
changing or influencing the control of the issuer of
the securities and were not acquired and are not held
in connection with or as a participant in any
transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information
set forth in this statement is true, complete and
correct.
Date: February 2, 2004
SHAKER INVESTMENTS, L.L.C.
/s/ Edward P. Hemmelgarn
-----------------------------------
Signature
Name: Edward P. Hemmelgarn
Title: President, Managing Director