Cellceutix Corp (OTCMKTS:CTIX) announced results of its recent phase 2b clinical trial “A Randomized, Double-Blind Study Comparing Single-Dose and Short-Course Brilacidin to Daptomycin” in the Treatment of Acute Bacterial Skin & Skin Structure Infections will be presented at the European Congress of Clinical Microbiology and Infectious Diseases (ECCMID), in Copenhagen, Denmark this spring. This is one of the largest presentations and the company plans to showcase not only its product but also business model.
Technical analyst have identified strong buy signals in CTIX.
Copenhagen Conference
A significant amount of peers are expected to attend including experts from all over the world. This offers Cellceutix a rare opportunity to impress with their clinical results. The company will have three presentations in all, including Briliacidan assists in the prevention of patients developing resistance to antibiotics and management of inflammatory diseases of the skin and mucous membranes.
Final Presentation
In the final presentation, Brilacidin,is a new class that targets multiple symptoms of diseases. This is the company’s second presentation and a build up to the final. This drug is a new entry and is in early stage development.
Other Developments
The company also developed Kevetrin which is currently in Phase 1 clinical trial at Harvard Cancer. This gives the company a third focus point bringing focus to its efforts. Cancer continues to be the leading challenge for pharmas and researchers. The company brings exciting developments to the showcase and should get some great exposure within its community.
Technicals
Cellceutix Corp (OTCMKTS:CTIX) began its most bullish phase in the period of August – September 2014, when it quickly rallied to $3.50 from the much lower area around $1.60-70. That huge rally was followed by a consolidation, which produced a very strong demand zone in $2.80-$3.00. The next phase was a simple vertical rise, suggesting euphoria and the consequence was a very natural collapse. The sharp fall from $5 has found enough support in the support area mentioned above but the bulls must protect it at any cost.
Cellceutix Corp (OTCMKTS:CTIX) lost 7.44% and closed at $3.61 on a volume of 915,420 shares on Friday.
