BEVERLY, Mass., Jan. 17, 2017 (GLOBE NEWSWIRE) -- Cellceutix Corporation, (OTCQB:CTIX) (“the Company”), a clinical stage biopharmaceutical company developing innovative therapies with dermatology, oncology, anti-inflammatory, and antibiotic applications, responds to the latest defamatory article published today on Seeking Alpha by the short-selling anonymous author going only by the name Mako Research.
As with Mako’s prior article on Cellceutix, the non-credible criminal author makes countless unfounded, wild allegations about the Company. The purpose of the iniquitous writings of Mako is to scare shareholders and drive CTIX stock lower for the profit of the author and all organizations collaborating in the illegal and manipulative market activity often called, “short and distort.”
The original article served as the foundation for a class action lawsuit, which was dismissed by the court with prejudice, as there was no truth in Mako’s so-called “research.” The entire legal case discrediting Mako can be viewed at: http://ia601507.us.archive.org/4/items/gov.uscourts.nysd.447344/gov.uscourts.nysd.447344.docket.html.
“Mako is a pawn in an organized criminal enterprise that profits tremendously from this type of fake news that Seeking Alpha relishes publishing because it drives web traffic. There’s a reason that the courts have ruled that Seeking Alpha is not a credible news source,” commented Leo Ehrlich, Chief Executive Officer at Cellceutix. “We will continue to gather information on Mako and his co-conspirators.”
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 multiple diseases. Cellceutix believes it has a world-class portfolio of first-in-class lead drug candidates and is now advancing them toward market approval, while actively seeking strategic partnerships. Cellceutix’s psoriasis drug candidate Prurisol completed a Phase 2 trial and Cellceutix recently launched a Phase 2b study. Prurisol is a small molecule that acts through immune modulation and PRINS reduction. Cellceutix’s anti-cancer drug Kevetrin successfully concluded a Phase 1 clinical trial at Harvard Cancer Centers’ Dana Farber Cancer Institute and Beth Israel Deaconess Medical Center, and Cellceutix is preparing for a Phase 2 study. 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 lead antibiotic, Brilacidin, has completed a Phase 2b trial for Acute Bacterial Skin and Skin Structure Infection, 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”). In an ongoing Phase 2 open label Proof-of-Concept trial, favorable interim results have been observed in the first cohort of patients treated with Brilacidin for Ulcerative Proctitis/Ulcerative Proctosigmoiditis (UP/UPS), two types of Inflammatory Bowel Disease (IBD). 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.