Cellceutix Corp (OTCMKTS:CTIX) announced the selection of Mark Tobin, Dr. Zorik Spektor and Dr. Barry Alan Schechter as independent directors and new committee members of its Board. In addition, the company provided update on its lead drug ‘Brilacidin.’ It is developing the drug under a QIDP status received from the U.S. FDA as a treatment for ABSSSI. The expert team recently finished 215-patient Phase 2b study of Brilacidin.

The dosing and treatment were shown to be relative successful as the FDA gave its nod to seven-day dosing treatment of daptomycin, which in 2014 was sold under the brand Cubicin and recorded sales of $1.046 billion.

The findings

Cellceutix reported promising top-line findings from the Phase II b Brilacidin trial in last October. After filing the results from the mentioned trial to the U.S. FDA, it was said to submit additional data from the key study. Cellceutix confirmed it collected MIC data from bacterial pathogens, PK data and completed PD modeling as well as in-depth evaluation of the safety profile of drug relative to ‘daptomycin.’ The company plans to have talks with the U.S. FDA for conclusion of Phase II meeting next month. Once it completes, it will commence with next round of trial of Brilacidin for ABSSSI.

Cellceutix Corp (OTCMKTS:CTIX) stated that it is even performing a Phase II study of drug Brilacidin oral rinse for prevention of oral mucositis. The problem is noticed in the mouth of the patients undergoing chemotherapy and radiation treatment for cure of neck and head cancer. As per a report, more than 450,000 people every year in the U.S. suffer from OM.

In last trading session, the share price of Cellceutix declined more than 3% to close the trading session at $2.91. The decline came at a share volume of 292,540 compared to average share volume of 205,658.

Previous articleElite Pharmaceuticals Inc (OTCMKTS:ELTP) Launches Generic Hydroxyzine Tablets
Next articleFederal National Mortgage Assctn Fnni Me (OTCBB:FNMA) Will Need $95B From Taxpayers’ Funds During Next Financial Crisis
Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg,,, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.