Lung cancer is still the number one cause of cancer death among men and women in the United States. Projections for 2010 by the American Cancer Society include over 220,000 new cases of lung and bronchial cancers with nearly 160,000 deaths as a result of lung cancer. If projections hold true, the number of new cases will be greater than the 173,770 cases that were reported in 2004. Another interesting fact is that, while leveling in the last several years, the number of deaths among women attributed to lung cancer has not seen a significant decline with the other major lines of cancer since 1990. Projections for 2010 have the number of deaths in women from lung cancer being approximately 10% greater than breast, colon and rectum cancers combined.
Lung carcinomas have proven to be very resilient with a great ability to adapt to chemotherapy treatments and still present a great area of need for new therapies. Multi-drug resistance, the principal mechanism by which many carcinoma strains develop resistance to chemotherapy drugs, is one of the primary reasons for ineffectiveness of standard cancer therapies on the market today. Cellceutix Corporation (CTIX.OB) trades on the NASDAQ Bulletin Board in the area of $.60 per share and is making significant strides with Kevetrin, their lead compound in development for treatment of multi-drug resistant cancer strains of the lung, breast and colon. Cellceutix is compiling the final data from pre-clinical toxicology studies to file an Investigational New Drug (IND) application with the USFDA in preparation for human trials of Kevetrin. Cellceutix plans to ask for the application to be “fast tracked” to expedite the procedure.
Cellceutix has developed and researched Kevetrin from the ground up with very promising results in pre-clinical studies. The latest pharmacology studies were released last week with the data coinciding with all other previous research. Kevetrin has already received accolades from posters being presented by Cellceutix at the American Association for Cancer Research (AACR). The AACR is considered by most to be the leading institute for cancer research in the world today. A poster on Kevetrin was highlighted at the AACR’s “Frontiers in Basic Cancer Research Meeting” in Philadelphia in October 2009. Research on Kevetrin has demonstrated success in more than 5,000 small animal tests, achieving significant delays in tumor growth compared to controls in multi-drug resistant lung, breast and colon cancer cell lines. The data also showed that a second cycle of Kevetrin continued to delay tumor growth without any development of resistance.
From an investment standpoint, Cellceutix has a very low market cap of around $40 million. There is a large insider holding ratio (approximately 50%) and a low float of approximately 40 million shares available for free trading. The Cellceutix management has been primarily funding operations independently without dilution of the share structure. It is apparent that they feel strongly their company’s compounds can reap great rewards in the future.
Leo Ehrlich, Chief Financial Officer of Cellceutix, stated, “When talking about a successful approved drug for resistant cancers, you must realize that you are talking about revenue possibilities into the billions of dollars. Presently, this is one of the most sought areas of drug development or acquisition by big pharma. ”
Mr. Ehrlich said, “Just over the last month we were contacted and invited by a major pharmaceutical company and a major financial institution interested in learning more about Cellceutix. Nothing is ever a complete certainty, but we anticipate continued success and the true value of our company to continue to be realized.”
The CTIX price per share has been steadily increasing this year with a 2010 low of $.20 and presently trading at $.66. To learn more about Cellceutix, Kevetrin and the investment opportunity Cellceutix presents, please visit the Cellceutix website at www.cellceutix.com.
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