Yesterday we had a discussion with Mr. Leo Ehrlich, Chief Financial Officer of Cellceutix. Mr. Ehrlich is a very low-key gentleman, but inspired us to want to continue research into CTIX. The first item of discussion in our conversation included the fact that a major cancer hospital (no name was mentioned) will be doing the clinical studies on Kevetrin, their flagship product designed to treat cancer cells that do not respond to typical treatments. Cellceutix hopes that the clinical studies will commence in the third or fourth quarter of this year. Which quarter the studies will begin is dependent on the IND filing process going smoothly with the Food and Drug Administration.
Mr. Ehrlich also confirmed that their share structure still only contains approximately 90 million shares outstanding and a float of around 45 million. There is a high percentage of shares held by insiders, but the percentage was not verified. This helps explain the low volume totals on a daily basis.
Another item that was briefly discussed is the great financial lengths that Mr. Ehrlich, Dr. Krishna Menon, Chief Scientific Officer of Cellceutix, and Mr. George Evans, CEO of Cellceutix, have personally gone to with the company. They have invested a great deal of their personal money to develop the company and its products. Mr. Evan’s background at Pfizer, Inc. was briefly discussed. The CEO has more than 25 years biotechnology experience and ended his career at Pfizer as General Counsel of their worldwide prescription drug unit and a member of the unit’s leadership team.
A final bit of the conversation included the autism product that they have in the pipeline. It is very unique and will be creating big news as development progresses and Cellceutix begins issuing more data and information regarding the treatment.
We have spoken with many companies over the years that trade on the OTCBB market and one thing that struck us about Cellceutix Corporation was not only their concern for shareholder value, but the manner in which they carry themselves as a company. They appear to have some ground-breaking pharmaceuticals in development and are still maintaining a low-profile despite extremely positive pre-clinical research. A bit of a different approach from an OTC Bulletin Board company to say the least.