Cellceutix Corp (OTCBB:CTIX) At The Final Stretch
We haven’t covered Cellceutix Corp (OTCBB:CTIX) for quite a while now, so we figured it would be nice to give you some heads up on current developments of their cancer treatment drug.
The most recent developments and news of the company seem to not be affecting their stock that much as yesterday after some optimistic press releases their price per share fell over 9%. Even with the optimistic press releases that they recently made the stock dropped from $2.22 at market open to close at $1.98.
After their stock price started to decline in the beginning of 2013 it finally made a jump in mid-May and again managed to pass the $2 price per share mark. Even though they are on the final stretch and have begun clinical testing for their cancer treatment drug Kevetrin CTIX are still not that close to making the revenue that they need so much.
On the good side of things they will most probably have the resources to make that happen and the only question that remains is: How long will it take? A negative response from the FDA would most probably crash their stock and slow them down. However, let’s take a quick peak at the numbers of prime interest from their latest quarterly report covering the period ended March 31 and see if they would be able to cope with such an outcome.
- cash: $1 million
- total assets: $1.3 million
- current liabilities: $8 million
- revenue since inception: $0
- net loss: $866 thousand
Well, they seem to be able to handle a crisis when you take into account that they have $1 million cash on hand. The only numbers that are not looking good are the liabilities and the revenue. That, however, can be attributed to the fact that they are developing a groundbreaking drug for cancer treatment that has absolutely no analogy and uses a brand new class of chemistry to battle cancer.
Their groundbreaking drug uses a molecule that has been known for quite a while, but it has never been used to treat humans with oncological diseases. The most optimistic part about the future of their drug is the fact that it only targets cancerous cells and does not affect healthy DNA, which makes it far better than known methods like chemotherapy.
Still CTIX are yet to prove that their drug helps to provide a positive outcome for the oncological patients and that it has little to no side effects, both in the short and in the long term after the treatment.
Until then be sure to do your due diligence and weigh out the risks, especially when it comes down to pharmaceutical companies that are yet to get approval for the launch of their drugs and treatments.