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.
