+ Watch CTIX
on My Watchlist
Fully dependent on current FDA trials at Dana Farber Cancer institute in MA.
great buy-in price now due to its inherent value
It's been a quiet two months for Cellceutix on Seeking Alpha, and the share price is showing the strain. Expect more offerings from the Usual Suspects in the near future to shore up the share price to maximize the benefit from the new 20M ATM with Aspire. I did think the last SA effort was rather funny - what kind of legitimate company CEO would submit to an interview by an anonymous author that would be placed behind a paywall? Ridiculous.Despite prior SA orgasms over the multibillion dollar potential of pipeline compounds Kevetrin and prurisol, Cellceutix management appears to have been less sanguine. They coughed up another 5M in cash and stock to purchase the pipeline assets of Polymedix out of bankruptcy. Polymedix was one of those microcap outfits, like Bionovo and Anesiva, that rapidly declined and gave up the ghost without a fight. I'll never understand why some biopharmas go out that way and why others like Cell Therapeutics hang around and burn through hundreds of millions of shareholder value over decades. Anyway, Polymedix discontinued their anticoagulant candidate delparantag due to a side effect of hypotension, but Cellceutix believes it can be reformulated. I wasn't aware of anything condemning antibiotic Brilacidin when Polymedix went out of business, but perusal of the latest Cellceutix 10Q indicates a common side effect of numbness and tingling, along with numerous other adverse events some of which were classified as serious. At least the Cellceutix purchase makes the Polymedix bankruptcy a little easier to understand.I'm not a stock promoter, so I don't know if there's a way to couch the Brilacidin side effects in favorable terms. "The tingling means it's working" perhaps? However, I do have confidence that at some point the SA cockroaches will be coming back out from behind the appliances and resuscitating their pet scam from this trough.
I'm out of my RL short for now, but I don't doubt that this company will have a very bad end on the long term. Reading their reports to the SEC provides for interesting insights into their market manipulation strategies. I'll wait for some of their pumping to peak before I re-enter my short again.
Pump N Dump scam.
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