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Cellceutix Reports on Q2 Fiscal 2017, Prepares for Important Clinical Milestones
Cellceutix Reports on Q2 Fiscal 2017, Prepares for Important Clinical Milestones.
About this update from Innovation Pharmaceuticals Inc.
[{"type":"text","content":"\n\n BEVERLY, Mass., Feb. 16, 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, today provides a general business update, corporate outlook for upcoming clinical milestones for its first-in-class drug candidates and select financial results for the second quarter of the fiscal year 2017 ended December 31, 2016.  A comprehensive review of the latest quarter reported is available through Cellceutix’s recently submitted Form 10-Q with the Securities and Exchange Commission at www.sec.gov and on the Cellceutix website.\n Portfolio Development The second quarter of fiscal 2017 and the start of our third quarter proved very positive for Cellceutix’s three lead compounds, Brilacidin, Prurisol and Kevetrin.  The past few months laid the groundwork for some fast-approaching milestones that represent pivotal moments for Cellceutix.  As mentioned by management in previous news releases, a primary focus for the 2017 calendar year is completing work necessary to forge partnerships with larger pharmaceutical companies presently engaged with Cellceutix, some under Confidential Disclosure Agreements (CDAs).  Should outcomes from ongoing clinical studies yield favorable results, the Company is optimistic that it will be able to capitalize on the data with respect to a partnership.  Securing partnerships would generate substantial shareholder value, while also helping to advance the Company’s innovative drug candidates toward market approval, benefiting patients in need of additional safe and effective treatment options. Brilacidin—Oral Mucositis (Phase 2 Trial) - Enrolling 60 patients, the study is evaluating Brilacidin as an oral rinse, 3 times daily for 7 weeks, to prevent and control Oral Mucositis (OM) in patients receiving chemoradiation therapy for head and neck cancer. Even though over 400,000 patients in the U.S. suffer from this condition, presently there are no approved drugs for the treatment of OM in this population, with only limited palliative care options available. Cellceutix’s goal with this trial is to show that Brilacidin has dual functionality in not only shortening the duration and ...