Cellceutix Corp. (OTC: CTIX) Could be worth Billions!
CTIX is easily one of the most exciting stories in Penny Stocks!
Cellceutix Corp. (OTC: CTIX) is quickly turning into the most exciting story in penny stocks; potentially sitting on the multi-billion dollar drug-resistant cancers market the Company's stock recetnly saw an epic run from a $0.50 start to highs near $2.50 per share. Since then the stock has dropped some but still trades well above the $1.50 support and is technically sound for more upside.
Cellceutix Corp. is an emerging bio-pharmaceutical company based in Beverly, Massachusetts. The Company's chief scientific officer, Dr. Krishna Menon is a real whiz; he played key roles in developing two blockbuster cancer drugs; Gemzar and Alimta for Eli Lilly & Co.(NYSE:LLY) (currently trading at $50 per share) back in the late 90's.
His latest creation; Kevetrin(TM), an anti-cancer drug that regulates the p53 pathway and attacks drug-resistant cancers could easily trump them all and make Cellceutix a multi-billion dollar Company.
Regulating the p53 pathway has long been the holy grail of cancer research and big pharma has spent hundreds of millions of dollars researching ways to achieve this with little success. It is beginning to look like Kevetrin(TM) has done just this; extensive preclinical research on Kevetrin shows the re-activation of p53 across a wide spectrum of cancer lines including colon, lung, breast and pancreatic cancers.
Kevetrin is currently in Phase 1 clinical trials to test it for a variety of different cancer types in patients with advanced-stage cancers. Prurisol is set to begin trials in 2013.
Leo Ehrlich, CEO of Cellceutix commented "We’ve already had a lot of interest from Big Pharma, Even before we filed the IND, some of largest biotechs in the world contacted us, wanting to be apprised of what’s happening during the clinical trial. As the Phase 1 progresses, we expect the interest to continue to escalate.”
If testing is successful, Mr. Ehrlich says the market potential for Kevetrin in treating drug-resistant cancers is worth $5 billion a year. Other cancers could easily represent an additional $5 billion annually, he adds..
Conclusion: Clearly Dr. Krishna Menon, Cellceutix chief scientific officer who played key roles in developing several blockbuster cancer drugs for Eli Lilly & Co.(NYSE:LLY) is on to some really big things here. Cellceutix lead compound Kevetrin™ is in phase 1 clinical trials. The Company recently met with the FDA pertaining to their Prurisol™ Compound and are taking necessary steps to prepare for a Phase 2 clinical trial application for Prurisol™
Kevetrin(TM) could make Cellceutix a leader in the multi-billion dollar drug-resistant cancers market. CTIX Is definitely a stock to watch for continued upside moves.
To find out the inside scoop on CTIX subscribe to OTCMagic.com right now. Also everyone should know, we have something HUGE coming!
SYMBOL: OTC: CTIX
Shares Outstanding 93,174,151
Market Cap: $103,423,308
Cellceutix Corporation (OTC: CTIX) was incorporated on August 1, 2005 in the State of Nevada under the name EconoShare, Inc., with the purpose of developing a B2B (Business to Business) website for an Asset Sharing market place and transaction system.
On December 6, 2007, the Company acquired CellceutixPharma, Inc., a privately owned Delaware corporation pursuant to an Agreement and Plan of Share Exchange. CellceutixPharma, Inc. was incorporated under the laws of the State of Delaware on June 20, 2007. Its assets consisted of rights assigned to it for six early stage pharmaceutical compounds by three different scientists.
Formerly=EconoShare, Inc. until 2-2008
Cellceutix Product Pipeline:
1. Kevetrin™ – CTIX Lead Compound
The Phase 1 trial for solid tumors is at Harvard Cancer Center’s Dana-Farber Cancer Institute and partner Beth Israel Deaconess Medical Center. The trial is titled “A Phase I, Open-Label, Dose-Escalation, Safety, Pharmacokinetic and Pharmacodynamic Study of Kevetrin (thioureidobutyronitrile) Administered Intravenously in Patients with Advanced Solid Tumors,”
The Study will involve a total of 52 patients and the Principal Investigator for the trial is Geoffrey Shapiro, MD, PhD, Director, Early Drug Development Center and Associate Professor of Medicine, Harvard Medical School.
2. Prurisol™ Compound
Cellceutix met with the U.S. Food and Drug Administration (“FDA”) pertaining to their psoriasis compound, Prurisol™ The FDA informed the Company that a 505(b)(2) application would be an acceptable approach for Prurisol™ based upon the FDA guidance; Cellceutix has begun the preparatory work necessary for a Phase 2 clinical trial application for Prurisol™
Cellceutix selected Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) for the manufacturing of Prurisol™ Dr. Reddy’s will manufacture Prurisol for oral dosing at levels sufficient for the Company’s planned phase 2/3 clinical trials.
Also in November CTIX announced an agreement with a European Union (EU) clinical site for a Proof-of-Concept (PoC) trial of Prurisol™ The trial, a double blind study, is planned for the first quarter of 2013.
3. Autism Compound
KM-391 is a novel compound being developed for the treatment of autism. CTIX acquired the compound late last year and has been working as rapidly as possible to learn more about its potential for development. All initial research has been very encouraging so far.
Autism is an area where there is a desperate need for new therapies. There are no drugs currently approved to treat the core conditions of autism. Autism affects as many as 1 in 100 births and takes a terrible toll on the families it affects.