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Innovation Pharmaceuticals Name and Ticker Change Effective, Replay of Shareholder Conference Call Available
Innovation Pharmaceuticals Name and Ticker Change Effective, Replay of Shareholder Conference Call Available.
About this update from Innovation Pharmaceuticals Inc.
[{"type":"text","content":"\nBEVERLY, Mass., June 09, 2017 (GLOBE NEWSWIRE) -- Innovation Pharmaceuticals, Inc. (OTCQB:IPIX) (“the Company”), an emerging biopharmaceutical company, is pleased to announce that the Company’s name and ticker change from Cellceutix Corp. and “CTIX” is effective at the commencement of trading today, June 9, 2017.\nInnovation Pharmaceuticals’ management discussed the rationale underscoring the name change as a better reflection of the Company’s mission, along with other corporate developments and a lengthy question and answer session, in a shareholder conference call on June 8, 2017.  Investors may listen to a replay of the investor call by:dialing 877-481-4010 or 919-882-2331 and using access code #15776 (expires on 11 AM EDT on June 22, 2017)visiting http://www.investorcalendar.com/event/15776 (expires 11 AM EDT on September 8, 2017)The Company wishes to remind shareholders that they are not required to take any action with respect to the name and ticker change.About the Company Headquartered in Beverly, Massachusetts, Innovation Pharmaceuticals Inc. (IPI), formerly named Cellceutix Corporation, is a clinical stage biopharmaceutical company developing innovative therapies in multiple diseases. The Company 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. The Company’s psoriasis drug candidate Prurisol completed a Phase 2 trial and the Company more recently launched a Phase 2b study. Prurisol is a small molecule that acts through immune modulation and PRINS reduction. The Company’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 the Company has commenced a Phase 2 study. In the laboratory, Kevetrin has been shown to induce activation of p53, often referred to as the “Guardian Angel Gene” due to its crucial role in controlling cell mutations. Brilacidin, 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. The Company is in a Phase 2 clinical trial with its novel compound Brilacidin-OM for the prevent...