Cellceutix Corp (OTCMKTS:CTIX) recently attended the ASCO meeting in Chicago, along with a poster on Kevetrin. As per the reports from the company, the poster attracted a lot of attention of specialists from both academia and the industry. The drug has completed its phase-1 clinical trials and is ready to be moved to phase-2. However, that is not the only drug by the company, which can turn out to be immensely profitable. CTIX has also been working on a competitor drug for daptomycin, Brilacidin, which is also in the phase-2 of clinical trials.
CTIX has become a growing clinical stage company with a focus on innovative therapies for dermatology, oncology and anti-biotics. The company’s poster at ASCO provided the attendees with information from the phase-1 clinical trial of Kevetrin. As per the results from the trials, Kevetrin is safe and can be administered as a single-dose treatment over repeated cycles. So far there have been no adverse effects.
The results also showed a significant increase in p21 expression, in a large number of subjects. Concluding from the results, the company believes that the drug can become an effective mono-therapy for ovarian and gynecological cancer sufferers. Cellceutix Corp (OTCMKTS:CTIX) also stated that the ASCO attendees, from all over the world, showed significant interest in the drug and its response upon p53. Kevetrin’s mechanism of action involves restoring p53 function. The drug then initiates a natural response of apoptosis and cell cycle arrest. The results also concluded that they drug can be used in conjunction with other treatments and as well as a stand-alone therapy.
Brilacidin is, however, the current drug under the spotlight. So far CTIX has seen a lot of potential in the drug and is thought to eventually replace daptomycin as the primary drug of choice. Unfortunately, investors will have to wait for the drug to come out, so they can reap its profits. Currently, the drug has only just begun enrollment of its phase-2 clinical trials and it would be a while before the drug reaches the market.
Cellceutix Corp (OTCMKTS:CTIX) registered a rise of 5.6% at the close of the June 9 session, after trading 117.72 million shares, to close at $2.83.