Cellceutix Corp. (OTCQB:CTIX) formerly went by EconoShare until February 2008. The company is based in Beverly, Massachusetts. CTIX focuses on discovering drugs for hard to treat diseases such as some cancers, autism and psoriasis. The drug Kevetrin is being studied and showing great signs in the fight against cancer. In all studies done, delay in the growth of the tumor and size reduction had taken place. Next year they want to test this drug against blood tumors. Kevetrin is non genotoxic, which means it will not damage or alter DNA. It is unknown of any other company that is testing a non genotoxic drug, which makes CTIX ahead of the competition.
The research team at CTIX says that Kevetrin may be connected with retinoblastoma protein (RB), a component in controlling tumors. In the future if it is shown that Kevetrin restores RB, it could be a major milestone and a wonderful breakthrough for science and medicine.
Another drug that is taking form is called Prurisol. This is an anti-psoriasis compound. Although this drug is still under development, it would be an oral dose. Over 150 million people suffer from this disease. The drug Prurisol had greater effects than methotrexate when a study was done on mice. An agreement has already been made for Dr. Reddy Labs to manufacture Prurisol when the time comes. The FDA gave approval after a meeting in June. Actions are now moving forward for a clinical trial with the drug. Another drug under development is a drug to treat autism (KM-391). Still early in this drug, there are no drugs on the market currently and not very many even under development that would be comparable to KM-391.
CTIX is currently being traded for $1.16, up $.05. The previous close was $1.11. The 52 week range was $0.36 up to $1.18. This stock has almost met its peak. The market cap for CTIX is at $107.15M.
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