SOURCE: Cellceutix

Cellceutix

November 11, 2015 10:34 ET

Cellceutix Completes Cohort in Kevetrin Clinical Trial; Cheers to Ocata Therapeutics

BEVERLY, MA--(Marketwired - November 11, 2015) - Cellceutix Corporation (OTC: CTIX) (the "Company"), a clinical stage biopharmaceutical company developing innovative therapies with oncology, dermatology, anti-inflammatory and antibiotic applications, is pleased to report that on Monday, November 9, 2015, the sixth qualifying patient in the present cohort received their third treatment of Kevetrin, our lead anti-cancer drug in a Phase 1 clinical trial for the treatment of advanced solid tumors, at 750 mg/m2. To wit, enrollment in the Kevetrin Phase 1 clinical trial is now closed to new subjects. The decision to formally conclude the trial will now be reviewed by the Company and Principal Investigator.

"We feel this news, which was disclosed in yesterday's press release on the filing of the Company's quarterly report with the Securities and Exchange Commission, may have been overlooked as the release was quite comprehensive. More than 40 patients have now been given Kevetrin therapy in the dose-escalation trial. We are impressed with the data to date, which was often updated to shareholders, and look forward to discussing the data from the recent cohort," commented Leo Ehrlich, Chief Executive Officer at Cellceutix. "This trial has provided us with more than sufficient data to continue to move forward with our planned Phase 2 trial of Kevetrin for ovarian cancer under an Orphan Drug designation from the FDA, which we hope to initiate in the first half of 2016."

Separately, Cellceutix would like to congratulate Ocata Therapeutics on their agreement this week to be acquired by Astellas Pharma for $8.50 per share in an all-cash transaction valued at about $379 million. Just as with Cellceutix, Ocata Therapeutics was recently the target of a nefarious, manipulative article published on the financial website Seeking Alpha by an anonymous short-seller using the pseudonym "Mako Research," making outlandish allegations about Ocata and their science in an attempt to drive the stock price down. The article titled, "Ocata: Dilution Imminent, SEC Investigation Potentially Underway, Office Appears Empty, Price Target $0.00" is very similar to the attack on CTIX. Cellceutix views this acquisition of Ocata by Astellas as validation of the illegitimacy and criminality of Mako's so-called research. Last evening, Ocata Therapeutics stock advanced 89% to $8.44.

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About Cellceutix:
Headquartered in Beverly, Massachusetts, Cellceutix is a publicly traded company under the symbol "CTIX". Cellceutix is a clinical stage biopharmaceutical company developing innovative therapies in oncology, dermatology and antimicrobial applications. Cellceutix believes it has a world-class portfolio of compounds and is now engaged in advancing its compounds and seeking strategic partnerships. Cellceutix's anti-cancer drug Kevetrin is currently in a Phase 1 clinical trial at Harvard Cancer Centers' Dana Farber Cancer Institute and Beth Israel Deaconess Medical Center. In the laboratory 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 anti-psoriasis drug Prurisol is in a Phase 2 trial. Prurisol is a small molecule that acts through immune modulation and PRINS reduction. Cellceutix's lead antibiotic, Brilacidin, has completed a Phase 2b trial for Acute Bacterial Skin and Skin Structure Infections, or ABSSSI. Top-line data have shown a single dose of Brilacidin to deliver comparable clinical outcomes to the FDA-approved seven-day dosing regimen of daptomycin. Brilacidin has the potential to be a single-dose therapy for certain multi-drug resistant bacteria (Superbugs). Cellceutix has formed research collaborations with world-renowned research institutions in the United States and Europe, including MD Anderson Cancer Center, Beth Israel Deaconess Medical Center, and the University of Bologna. More information is available on the Cellceutix web site at www.cellceutix.com.

Forward-Looking Statements
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that could cause Cellceutix's actual results and experience to differ materially from anticipated results and expectations expressed in these forward looking statements. Cellceutix has in some cases identified forward-looking statements by using words such as "anticipates," "believes," "hopes," "estimates," "looks," "expects," "plans," "intends," "goal," "potential," "may," "suggest," and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements are Cellceutix's need for, and the availability of, substantial capital in the future to fund its operations and research and development; including the amount and timing of the sale of shares of common stock to Aspire Capital; the fact that Cellceutix's compounds may not successfully complete pre-clinical or clinical testing, or be granted regulatory approval to be sold and marketed in the United States or elsewhere. A more complete description of these risk factors is included in Cellceutix's filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. Cellceutix undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.

Contact Information

  • INVESTOR AND MEDIA CONTACT:
    Cellceutix Corporation
    Leo Ehrlich
    Email contact