Cellceutix First Annual Shareholder Meeting December 15, 2015

BEVERLY, MA--(Marketwired - December 14, 2015) - Cellceutix Corporation (OTC: CTIX) (the "Company"), a clinical stage biopharmaceutical company developing innovative therapies with oncology, dermatology, anti-inflammatory and antibiotic applications, today reminds shareholders that tomorrow is the first annual Cellceutix shareholder meeting. The meeting will be held at 100 Cummings Center, Suite 221-E, 2nd Floor, Beverly, Massachusetts and will convene at 10:00 a.m. local time. To those attending the shareholder meeting, note that Suite 221-E, 2nd Floor is not attached to our offices, but is on the floor above our offices.

The Company is extremely proud to see Cellceutix grow from a tiny biotech with only a handful of shareholders just a few years ago into a company with a robust pipeline and thousands of passionate shareholders. 

It has been a year of milestones and important developments at Cellceutix. On the corporate level, we signed a $30 million share purchase agreement with Aspire Capital, giving us the financial strength for our R&D efforts. We strengthened our board with new independent directors and added several seasoned consultants with broad experience in getting drugs FDA approved. 

The dynamics of Cellceutix are in the novelty of our compounds and the diseases we are addressing with our clinical trials. We seek markets with unmet medical needs where we would have the potential to be a market leader. We consider generic competition as well as potential insurance reimbursement coverage for the end user before engaging in a project or clinical trial. Innovation and solution is how we will achieve our goals to reward our stockholders.

Clinically, we're proud to have initiated two new Phase 2 trials during 2015. The first was in Brilacidin-OM, which received an FDA Fast Track designation for the treatment of oral mucositis, and the other trial was in Prurisol for chronic mild-to-moderate plaque psoriasis.

Across 2015, we released and presented data from the Phase 2b trial of Brilacidin for Acute Bacterial Skin and Skin Structure Infections, or ABSSSI, that showed a single dose of our novel compound delivers comparable results against 7 days of infusions of daptomycin, the blockbuster drug marketed as Cubicin. We have worked vigilantly on a new formulation of Brilacidin to maximize purity of the compound and have completed the development process of lyophilization so it can be safely stored at room temperature or simply refrigeration, rather than freezing. Production is scheduled this month for use in the upcoming planned Phase 3 trials. It's much behind the scenes work, but very important work we do to de-risk development, and assuming FDA approval, plan for commercialization.