Cyclacel Pharmaceuticals, Inc. P R E S S R E L E A S E CYCLACEL PHARMACEUTICALS REPORTS FINANCIAL RESULTS FOR FIRST QUARTER 2010 Conference Call Scheduled

P R E S S R E L E A S E

CYCLACEL PHARMACEUTICALS REPORTS FINANCIAL RESULTS FOR FIRST QUARTER 2010

Conference Call Scheduled May 13, 2010 at 4:30 p.m. Eastern Time

BERKELEY HEIGHTS, NJ May 13, 2010 Cyclacel Pharmaceuticals, Inc. (NASDAQ: CYCC, NASDAQ:

CYCCP), a biopharmaceutical company developing oral therapies that target the various phases of

cell cycle control for the treatment of cancer and other serious disorders, today reported its

financial results and business highlights for the first quarter ended March 31, 2010. The net loss

for the first quarter was $5.1 million, or $0.18 per basic and diluted share. This compared to a

net loss of $5.1 million, or $0.26 per basic and diluted share, for the same period in 2009. As of

March 31, 2010, cash and cash equivalents totaled $24.2 million.

We made important progress during the quarter in advancing the development of sapacitabine, our

lead product candidate, said Spiro Rombotis, President and Chief Executive Officer of Cyclacel.

We submitted to FDA a Special Protocol Assessment (SPA) request for a randomized Phase 3 study of

sapacitabine in elderly patients with acute myeloid leukemia (AML). The FDA has reviewed our

proposed Phase 3 protocol and statistical analysis plan. Following consultations with the FDA, we

expect to receive action on the SPA in the near future. Looking to the rest of the year in our

sapacitabine program, we are preparing to initiate the Phase 3 study in AML, planning to report

Phase 2 data in MDS and progressing our Phase 2 study in lung cancer. We are also continuing to

evaluate the broad therapeutic utility of our cyclin-dependent kinase (CDK) inhibitor drug

candidates in treating cancers that are resistant to available therapies.

First Quarter 2010 and Recent Highlights

Recently published data demonstrated that seliciclib and CYC065 have activity in resistant lung

cancer cell lines with Ras mutations. Building on these findings, we plan to test tissue samples

from patients treated with seliciclib for Ras mutations. We were recently encouraged to learn that

a cancer patient in one of our seliciclib studies who experienced prolonged stable disease of over

a year while on seliciclib treatment was subsequently confirmed to have the K-RAS mutation, added

Mr. Rombotis. Cyclacel and its collaborating scientists and physicians are intrigued by these

early results and continue to explore the activity of CDK inhibitors in the setting of resistant

First Quarter 2010 Financial Results

Revenues for the quarter were $0.3 million, compared to $0.2 million for the same period in 2009.

Cyclacel s product revenues were comprised of sales of Xclair Cream for radiation dermatitis and

Numoisyn Liquid and Numoisyn Lozenges for xerostomia.

The operating loss for the quarter was $4.5 million compared to $5.2 million for the same period in

2009. Cyclacel reported a net loss of $5.1 million, or $0.18 per share for the first quarter of

2010, compared to a net loss of $5.1 million, or $0.26 per share for the same period in 2009.

Research and development expenses in the first quarter of 2010 were $2.2 million compared to $3.1

million for the same period in 2009. The $0.9 million decrease was primarily the result of

focusing activities on our lead drug candidate, sapacitabine. Total selling, general and

administrative expenses for the first quarter of 2010 were $2.4 million, compared to $2.2 million

for the same period in 2009 with the $0.2 million increase primarily related to increased spending

on professional costs.

As of March 31, 2010, Cyclacel s cash and cash equivalents were $24.2 million compared to $11.5

million as of December 31, 2009. The Company raised $18.5 million through registered offerings and

warrant exercises in this first quarter which resulted in higher cash and cash equivalents

balances. The Company expects its existing capital resources should be adequate to fund operations

and commitments into 2012.

Conference call and Webcast Information:

Cyclacel management will review first quarter 2010 financial and business highlights on a

conference call scheduled for today at 4:30 p.m. Eastern. Conference call and webcast details are

US/Canada call: (877) 493-9121/ international call: (973) 582-2750

US/Canada archive: (800) 642-1687 / international archive: (706) 645-9291

Code for live and archived conference call is 73236113

Webcast: For the live and archived webcast, please visit the Corporate Presentations page on the

Cyclacel website at www.cyclacel.com. The webcast will be archived for 90 days and the audio replay

About Cyclacel Pharmaceuticals, Inc.

Cyclacel is a biopharmaceutical company developing oral therapies that target the various phases of

cell cycle control for the treatment of cancer and other serious disorders. Three product

candidates are in clinical development: Sapacitabine (CYC682), a cell cycle modulating nucleoside

analog, is in Phase 2 studies for the treatment of acute myeloid leukemia in the elderly,

myelodysplastic syndromes and lung cancer. Seliciclib (CYC202 or R-roscovitine), a CDK (cyclin

dependent kinase) inhibitor, is in Phase 2 studies for the treatment of lung cancer and

nasopharyngeal cancer and in a Phase 1 trial in combination with sapacitabine. CYC116, an Aurora

kinase and VEGFR2 inhibitor, is in a Phase 1 trial in patients with solid tumors. Cyclacel s

ALIGN Pharmaceuticals subsidiary markets directly in the U.S. Xclair Cream for radiation

dermatitis, Numoisyn Liquid and Numoisyn Lozenges for xerostomia. Cyclacel s strategy is to

build a diversified biopharmaceutical business focused in hematology and oncology based on a

portfolio of commercial products and a development pipeline of novel drug candidates. Please visit

www.cyclacel.com for additional information.

Forward-looking Statements

This news release contains certain forward-looking statements that involve risks and uncertainties

that could cause actual results to be materially different from historical results or from any

future results expressed or implied by such forward-looking statements. Such forward-looking

statements include statements regarding, among other things, the efficacy, safety, and intended

utilization of Cyclacel s product candidates, the conduct and results of future clinical trials,

plans regarding regulatory filings, future research and clinical trials and plans regarding

partnering activities. Factors that may cause actual results to differ materially include the risk

that product candidates that appeared promising in early research and clinical trials do not

demonstrate safety and/or efficacy in larger-scale or later clinical trials, the risk that Cyclacel

will not obtain approval to market its products, the risks associated with reliance on outside

financing to meet capital requirements, and the risks associated with reliance on collaborative

partners for further clinical trials, development and commercialization of product candidates. You

are urged to consider statements that include the words may, will, would, could, should,

believes, estimates, projects, potential, expects, plans, anticipates, intends,

continues, forecast, designed, goal, or the negative of those words or other comparable

words to be uncertain and forward-looking. For a further list and description of the risks and

uncertainties the Company faces, please refer to our most recent Annual Report on Form 10-K and

other periodic and current filings that have been filed with the Securities and Exchange Commission

and are available at www.sec.gov. Such forward-looking statements are current only as of the date

they are made, and we assume no obligation to update any forward-looking statements, whether as a

result of new information, future events or otherwise.

Contact for Cyclacel Pharmaceuticals, Inc.

Corey Sohmer, (908) 517-7330

Cyclacel are trademarks of Cyclacel Pharmaceuticals, Inc. Numoisyn and Xclair are trademarks

of Sinclair Pharma plc.

CYCLACEL PHARMACEUTICALS, INC.

(A Development Stage Company)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In $000s, except share and per share amounts)