Cellceutix Gets Nod From IRB For Additional Enrollment in Clinical Trial of New Cancer Drug Candidate

Cellceutix Gets Nod From IRB For Additional Enrollment in Clinical Trial of New Cancer Drug Candidate

By: Tomas Ronolski - AllPennyStocks.com News

Friday, May 22, 2015

A recent report showed that worldwide spending on cancer drugs has hit $100 billion for the first time. Spending on oncology drugs has increased to record levels even as several innovative treatments are still under development. The IMS Institute for Healthcare Informatics reported recently that worldwide spending on cancer drugs reached $100 billion, increasing 10% from the previous year. One reason why spending on cancer drugs has reached such levels is because many drugs are priced at well over $100,000. In fact, prices of several cancer drugs that are currently in development are expected to be even higher.


Among the cancer therapies currently under development, the one that has created the most excitement is immunotherapy, which harnesses the body’s immune system to fight tumors. Several major pharma companies are developing their own immunotherapies and it is one of the hottest areas in cancer research.

The IMS in its report also noted other factors such as earlier diagnosis, longer treatment duration and increased effectiveness of drug therapies that have contributed to rising levels of spending on medicines for cancer.

The IMS further noted in the report that the compound annual growth rate or CAGR in cancer drug spending increased 6.5% over the past five years and between now and 2018, the CAGR is expected to be 6%-8%. The report added that new therapeutic classes and combination therapies will change the cancer landscape over the next several years.

Beverly, Massachusetts-based Cellceutix Corporation (OTCPK:CTIX) is one of the smaller companies that are developing innovative therapies for cancer. The company’s anti-cancer drug, Kevetrin is currently in a Phase 1 clinical trial at the Harvard Cancer Centers’ Dana Farber Cancer Institute and Beth Israel Deaconess Medical Center. CTIX is also developing innovative therapies in dermatology and antimicrobial applications.

On Friday, Cellceutix announced that the Institutional Review Board (IRB), which is overseeing its Phase 1 clinical trial of Kevetrin for the treatment of advanced solid tumors, has approved the amended protocol to allow additional patient enrollment to the study. The original protocol specified 40 patients to be enrolled. Since the maximum tolerated dose has not yet been identified, the company requested an amendment to the protocol to continue to evaluate administration of Kevetrin at higher doses.

Leo Ehrlich, CEO of Cellceutix, said that the company interprets the IRB approval as a strong vote of confidence as to the safety and potential impact of Kevetrin to deliver a meaningful effect on p53. Shares have been down substantially in 2015, however a longer term look shows a multi-year uptrend in the Company’s stock price.

Copyright © 2015 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Other Penny Stock Movers

Miner Scores with Acquisition of Promising Silver District in Mexico
Mixed Signals: Durable Goods Orders Up, But Not All Sectors Are Soaring
Biotech Steals The Show Following Pre-Clinical Data Announcement
Most Popular
FREE Newsletter


Back to Top