Wednesday, June 29, 2022

Cellceutix Corp (OTCMKTS:CTIX) Puts Out Its Message

Cellceutix Corp (OTCMKTS:CTIX) is a micro-cap biotech name that has started to engage some focus among traders and investors as prices get a little traction in bounce mode. The company recently announced closure on some details in getting its Phase 2B trial of its lead psoriasis treatment set up, and then put out a lengthy address to shareholders about coming events. It may pay to take a look at the message there.

Traders will note 8% added to share values of the stock over the past week of action, a rally that has pushed up against longer standing distributive pressure in the stock. The situation may be worth watching. CTIX is a stock whose past is littered with sudden rips. Moreover, the name has benefitted from a jump in recent trading volume to the tune of 12% beyond its prior sustained average level

Cellceutix Corp (OTCMKTS:CTIX) trumpets itself as a clinical stage biopharmaceutical company that develops small molecule therapies to treat cancer, antibiotics, and inflammatory disease.

The company focuses on the development of compounds, including Kevetrin, an anti-cancer compound that has completed Phase I clinical trial; and Prurisol, an anti-psoriasis drug candidate that is in Phase II clinical trial.

It also focuses on the development of Brilacidin, an antibiotic candidate for the treatment of acute bacterial skin and skin structure infection, oral mucositis, and inflammatory bowel disease, and ulcerative proctitis/colitis; and defensin-mimetics for otic infections, diabetic foot infections, and hidradenitis suppurativa indications.

In addition, the company owns compounds, such as KM 391 for the treatment of autism; KM 277 to treat arthritis; KM 278 for the treatment of arthritis/asthma; KM 362 to treat MS/ALS/Parkinson’s disease; KM-3174 for the treatment of cancer; and KM-732 for hypertensive emergency.

According to press materials, “Cellceutix is a clinical stage biopharmaceutical company developing innovative therapies in multiple diseases. Cellceutix believes it has a world-class portfolio of first-in-class lead drug candidates and is now advancing them toward market approval, while actively seeking strategic partnerships… Prurisol is a small molecule that acts through immune modulation and PRINS reduction. Cellceutix’s anti-cancer drug Kevetrin … has shown to induce activation of p53, often referred to as the “Guardian Angel Gene” due to its crucial role in controlling cell mutations. Cellceutix is in a Phase 2 clinical trial with its novel compound Brilacidin-OM for the prevention of oral mucositis in patients with head and neck cancer. Brilacidin-OM, a defensin mimetic compound, has shown in an animal model to reduce the occurrence of severe ulcerative oral mucositis by more than 94% compared to placebo. Cellceutix’s lead antibiotic, Brilacidin, has completed a Phase 2b trial for Acute Bacterial Skin and Skin Structure Infections, or ABSSSI. In an ongoing Phase 2 open label Proof-of-Concept trial, favorable interim results have been observed in the first cohort of patients treated with Brilacidin for Ulcerative Proctitis/Ulcerative Proctosigmoiditis (UP/UPS), two types of Inflammatory Bowel Disease (IBD).”

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As noted above, we always like to pay close attention when management looks up and says, “see here, we think this!” We don’t take anything at face value. But that hardly means there is nothing to be learned. We have come to know, over the years, that the most important, and sometimes the best, opportunities come as a direct result from just listening when a company points and smiles and shouts about something.

As such, behold:

“In 2016, Cellceutix remained extremely transparent in keeping shareholders current on developments, including comprehensive updates via news releases and corporate presentations covering the status of clinical trials and anticipated milestones pertaining to those trials for 2017… Looking ahead to 2017, we intend to remain laser focused on advancing our clinical pipeline with concurrent nurturing of relationships that can potentially lead to partnerships. Productive initial dialogue with major pharmaceutical companies in 2016 has already provided clear directions.”

The note continues, “As an example of executing towards our goal, we are now actively engaged in our Phase 2b study titled “A Randomized, Double Blind, Parallel Group, Placebo-controlled Trial to Study the Efficacy and Safety of Two Oral Doses of Prurisol Administered Twice Daily for Twelve Weeks to Subjects with Moderate to Severe Chronic Plaque Psoriasis.”  Our budget for this study is approximately $6-$7 million.  Management believes that achieving significant efficacy, as suggested by results already seen in our previous Phase 2a study, combined with a “clean” safety profile, would support value of the drug candidate at that stage of development in excess of $1 billion.  Such potential for value inflection at key milestones during clinical development is part of the Company’s strategy to remain alert to market trends where oral drugs for treating dermatological conditions and better drugs for treating cancer and irritable bowel diseases are being licensed/bought at record prices.”

Now commanding a market cap of $155.4M, CTIX has a significant war chest ($266.17k) of cash on the books, which is balanced by about $2M in total current liabilities. The company is pre-revenue at this point. This may be a very interesting story and we will look forward to updating it again soon. For continuing coverage on shares of $CTIX stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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