Cellceutix Corp (OTCMKTS:CTIX) has recently provided updates on the phase-2 trials of its lead drug Brilacidin. The drug targets oral mucositis in patients suffering from tumors in the head or neck. The company reported that it has begun enrolling patients for the trials and would be testing the effectiveness of the drug in Oregon and South Dakota. Once the drug is launched it could provide strict competition to the primary drug for the said conditions, Daptomycin. However, CTIX would still have to wait for the Daptomycin patent to expire.
Shareholders are anxiously awaiting the launch of the drug as analysts believe that it can replace Daptomycin as the primary drug of choice. Once the drug is past the phase-2 trials, Cellceutix has planned to shift its focus towards developing products for inflammatory and gastrointestinal diseases. The company plans to use Birlacidin for these as well, eventually Cellceutix would want to replace antibiotics with its defensin mimetics drug. Consequently, the market for Brilacidin is expected to be huge. This is why in the phase-2 trials, medical experts are also targeting people with hidradenitis suppurativa.
Additionally, the company pointed out that the FDA has granted Abbvie Inc’s Humira, the status of an orphan drug. Humira, like Birlacidin, is expected to target hidradenitis suppurativa, indicating that CTIX might go for a similar status. This could mean that CTIX would need to spend less on the development and trials for the drug, amongst other incentives from the FDA.
Additionally, Cellceutix presented a poster at the ASCO 2015 conference, which highlighted the company’s drug, Kevetrin, along with details of its phase-1 trials. The drug is designed to target solid tumors and serve as a monotherapy for the condition. As per the details from the company, Kevetrin’s poster attracted significant attention from both industry and academia. This was mainly due to the fact that Kevetrin has the ability to act on p-53, which is considered a master regulator of the cell cycle.
Cellceutix Corp (OTCMKTS:CTIX) traded 117.72 million shares in yesterday’s session, to close at $2.6 and losing 2.62%.