Cellceutix

December to Be Momentous Month in Company's History

BEVERLY, MA--(Marketwired - Nov 24, 2014) - Cellceutix Corporation (OTCQB: CTIX) (the "Company"), a clinical stage biopharmaceutical company developing innovative therapies with oncology, dermatology, and antimicrobial applications, is pleased to announce the completion of the ninth cohort in the Company's Phase 1 clinical trial of Kevetrin for advanced solid tumors being conducted at Harvard University's Dana-Farber Cancer Institute and Beth Israel Deaconess Medical Center. The safety committee overseeing the clinical trial will be meeting in the first week of December to review safety data and discuss a possible dose escalation for the tenth cohort.

Cellceutix expects December to be a momentous month in its history. The Company anticipates that the Kevetrin trial is nearing its conclusion with the start of the tenth cohort next month. Cellceutix looks forward to additional data from the trial to add to current information that has been used to form decisions for planned Phase 2/3 trials of Kevetrin. Elsewhere, a meeting has been scheduled in December between Cellceutix and the University of Bologna to discuss the status of commencing the Phase 1/2 trial of Kevetrin in combination with cytarabine in patients with Acute Myelogenous Leukemia (AML). The Company will update shareholders on this European trial as available.

Looking to Brilacidin, the lead drug candidate in the Company's definsin-mimetic platform, Cellceutix has signed an agreement with a division of one of the largest U.S. pharmaceutical companies for testing Brilacidin as a component of certain implanted devices as a means to prevent infection. This potential prophylactic use was not part of Cellceutix's strategic plans for Brilacidin, but given the compilation of clinical and laboratory data, it is a logical application that could potentially add millions of dollars of revenue to the Company. The material transfer does not cover the pharmaceutical use of Brilacidin for treatment of infections or other diseases. A final contract can only be entered into if and when Brilacidin receives Food and Drug Administration (FDA) approval.

The Phase 2 clinical trial of Brilacidin-OM for oral mucositis, an often debilitating effect of certain cancer therapies, is on target to commence in the second week of December. Cellceutix anticipates that www.ClinicalTrials.gov should be updated at the start of the trial.

As disclosed in a November 11 press release, Cellceutix will be meeting with the FDA in December to discuss advancing the clinical development of Brilacidin for Acute Bacterial Skin and Skin Structure Infections (ABSSSI) and Prurisol for treatment of psoriasis.