Cellceutix Corp (OTCMKTS:CTIX) shares were up 0.32% to $1.25 on Wednesday and flat in after-hours trading. The company has a market cap of $152.69 million at 122.54 million shares outstanding. Share prices have been trading in a 52-week range of $0.94 to $2.57.
Cellceutix Corp is a clinical-stage pharmaceutical company that is focused on developing and acquiring small molecule therapies. Its clinical programs include Kevetrin, Prurisol, Brilacidin and Brilacidin-OM. Other compounds owned by the company are KM 391, KM 277, KM 278, KM 362, KM-3174 and KM-732.
In a press statement this week, Cellceutix Corp shared topline data on the completed Phase 1 clinical trial of Kevetrin for the treatment of advanced solid tumors. This study was conducted at Dana-Farber Cancer Institute and Beth Israel Deaconess Medical Center. In these trials, Kevetrin met its primary endpoint in showing no clinically significant adverse effects of in patients based on clinical laboratory parameters through all dosing levels and across the duration of treatment.
Kevetrin is unique in that it is not a chemotherapy and acts by targeting multiple biochemical pathways to control tumor development in cells with diverse mutational background,” commented Cellceutix Corp CEO Leo Ehrlich. “Kevetrin has now shown at this stage of its development its enormous potential. We are extremely excited about Kevetrin’s prospects moving forward and feel we have a solid foundation upon which to proceed into advanced trials.
In conclusion, Cellceutix Corp believes that the impact of Kevetrin when administered to patients with repeated dosing of thrice per week will achieve fairly steady levels of Kevetrin above the minimum effective concentration. He added that additional lab work in animals is underway to better establish the mechanisms by which Kevetrin activates p53. The company is also exploring an oral formulation of Kevetrin, with the hope that it can develop into a daily medicine for treating and defeating cancer.
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