SOURCE: Cellceutix

Cellceutix

December 17, 2015 11:15 ET

Cellceutix Stockholders Tour Company Facilities at First Annual Stockholder Meeting; Investors Express Support for Company and Disgust for Seeking Alpha Article

BEVERLY, MA--(Marketwired - December 17, 2015) - Cellceutix Corporation (OTC: CTIX) (the "Company"), a clinical stage biopharmaceutical company developing innovative therapies with oncology, dermatology, anti-inflammatory and antibiotic applications, today provides shareholders a re-cap of the Company's first Annual Meeting of Stockholders, held Tuesday, December 15, 2015 at the office building of Cellceutix's corporate headquarters in Beverly, Massachusetts. Cellceutix would like to thank all of the shareholders that attended.

"I was very pleased to see such a strong turnout of shareholders showing their support of our Company; it was a pleasure meeting face-to-face with everyone," commented Leo Ehrlich, Chief Executive Officer at Cellceutix. "There was a lot of dialogue about corporate development, our clinical pipeline and advancing the rest of our portfolio, but the one thing that really struck me was all of the comments about the enormous size of the 100 Cummings Center office building. Most of the shareholders attending had never seen the building or our offices and lab within them in person and they were completely misled by the article of an anonymous blogger on Seeking Alpha alleging we operate out of an empty office building. It really speaks to the impact that such a malicious, frivolous publication can have to confuse investors and try to impede development of new drugs that are critical to the people that need them. These unethical, anonymous authors don't realize the actual damage they do. If they can make a dollar, they don't care about hurting thousands of people. Interacting with CTIX shareholders, seeing their reaction to our office building and listening to their disgust with Seeking Alpha article simply further fuels my passion to create a monumental success in healthcare and fight to see that justice is served to the individuals behind that article."

A summary of the meeting's agenda, along with a shareholder comment during the meeting (marked with an asterisk), is provided below.

I. CALL TO ORDER AND WELCOMING REMARKS

A. Welcome and Introductory Remarks
B. Instructions on Rules of Conduct and Procedures
C. Establishment of Validity of Meeting

II. DESCRIPTION OF PROPOSALS TO BE VOTED UPON

A. Proposal 1: Election of Directors
B. Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm
C. Proposal 3: Approval, on an Advisory, Non-Binding Basis, of Executive Compensation
D. Proposal 4: Advisory Vote on Frequency of Future Votes on Executive Compensation

III. VOTING

A. Voting Procedures
B. Opening Polls
C. Voting on Proposals
D. Closing Polls

IV. REPORT OF MEETING RESULTS
The Secretary of the meeting, Mr. David Crandall of Hogan Lovells US LLP, announced the results of the voting.

"Each of the five nominees for election to the Board of Directors has received the requisite number of votes required for election. The proposal regarding the ratification of Baker Tilly Virchow Krause, LLP as the independent registered public accounting firm has been approved. The proposal regarding executive compensation has received the requisite number of votes for approval. The proposal regarding the frequency in which to hold future stockholder votes on executive compensation has been voted at one year. I will prepare a written certificate documenting the results of the voting and certain other matters."

V. ADJOURNMENT

VI. QUESTIONS AND ANSWERS -Board and Auditors

*A suggestion was made to the Board of Directors and the Compensation Committee that executive bonuses, such as stock options and warrants, be contingent upon stock performance (the shareholder mentioned $3 per share for CTIX stock) and other corporate developments, such as uplisting to a senior exchange.

VII. MANAGEMENT- COMPANY PRESENTATION

1. Dr. Jorgensen's presentation discussed the Company's press release of December 14, 2015, which included:

Start of Kevetrin advanced study in ovarian cancer;
Start of Brilacidin ABSSSI Phase 3;
Start of Brilacidin for Ulcerative Proctitis proof of concept trial (phase 2);
Top line data on Kevetrin Phase 1 trial for advanced solid tumors;
Top line data on Prurisol Phase 2 trial for chronic plaque psoriasis;
Interim analysis for Brilacidin Phase 2 trial for Oral Mucositis;
Start of Retinoblastoma program, formulation and toxicity studies;
Additional ototoxicity studies with Brilacidin in different concentrations;
Gram- negative and anti-fungal progress;
Submission of grant application for study of Kevetrin in Pancreatic cancer with renowned hospital.
(See: http://cellceutix.com/cellceutix-first-annual-shareholder-meeting-december-15-2015/#sthash.apJz7TDR.dpbs)

2. Mr. Ehrlich read an email received the preceding day from a shareholder and his response. 

Shareholder: My Son (6.5 Years Old) and myself, both shareholders in Cellceutix are cheering Cellceutix's Work.

Both of us would like to give thanks for hard work done and accomplishments achieved. We are truly impressed with how much is done with so little.

It is a rare opportunity and privilege to join & support... We have been here for over 5 years now as shareholders and we plan to be here for many years to come.

Hopefully, my son Tom will get a rare lesson as to what can occur when good intentions meet great minds, aligned interests and just a bit of 'Mazal' (luck).

Congrats for the First shareholders meeting, may the future ones bring wealth & health to our clients, and to all the long term shareholders.

Upwards and Onwards!

Cellceutix Response: Thank you to you and your son for being shareholders of CTIX. We are working hard to take this "over the finish line" and help make a huge impact in better treatments for the diseases we targeted. I want your son to be proud of being an early shareholder and helping with this goal. There are 7.3 billion people on earth at this moment. According to the Population Reference Bureau in Washington, there are 108 billion people that lived in history. If we are successful, it's because of shareholders like you and your son. You would have made a difference and have achieved a legacy that most will never achieve. Time will tell.

3. Mr. Ehrlich addressed shareholders about the Seeking Alpha article, "Please be assured that it is my expectation that the authors will pay a heavy price. I wonder why people would do such an obvious violation of law and think they will get away with it. Meetings have already been had with the SEC and are in progress with Federal and State law enforcement. These things take time. The wheels of justice may seem to take time to start rolling, but they will roll."

Management thanked shareholders for joining them at the shareholders meeting and for helping "in doing something great for this world."

VIII. Walk through by shareholders of Cellceutix's offices and labs

Shareholders were invited for a walkthrough of Cellceutix's offices and laboratories.

Alerts:

Sign-up for Cellceutix email alerts is available at http://cellceutix.com/email-alerts/#sthash.CRfqSmmY.dpbs

Cellceutix clinical trials on Clinicaltrials.gov:

https://clinicaltrials.gov/ct2/results?term=cellceutix&Search=Search

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