Posts Tagged ‘Cellceutix Corp.’

BEVERLY, Mass., Oct. 19, 2009 (GLOBE NEWSWIRE) — Cellceutix Corporation (OTCBB:CTIX) today announced that data recently presented by the Company at the American Association for Cancer Research (AACR) along with other data developed by the Company indicate that Kevetrin is selectively targeting very specific anti-tumor pathways, such as AKT and p38 MAP kinase. The data presented at the AACR showed that Kevetrin was less cytotoxic than paclitaxel, cisplatin and 5FU while having better anti-tumor activity in two multi-drug resistant lung cancer cell lines. This indicates that Kevetrin is not acting primarily as a cytotoxic agent but may be targeting specific components of the signal transduction pathway, such as AKT and p38 MAP kinase. The Company is continuing to explore other potential targets.

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Stocks trend higher although some earnings reports signaled that companies are still having a hard time boosting revenue

Toymaker Hasbro Inc., like many other companies, reported its third-quarter earnings rose as it cut costs, but said that its revenue fell. Gannett Co., the country’s largest newspaper publisher, also had a profitable quarter even with another big decline in ad revenue.

Apple Inc. and Texas Instruments Inc. are scheduled to release earnings after the closing bell.

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Stocks are lower as a weaker U.S. dollar help lift commodity prices and Johnson & Johnson’s third-quarter sales figures disappointed investors

Stocks fell on Tuesday after disappointing quarterly sales figures from economic bellwether Johnson & Johnson (NYSE: JNJ) sparked worries about consumer spending, offsetting a lift from higher commodity prices.

The Nasdaq gave up its initial gains at the open.

The Dow Jones industrial average was down 53.66 points, or 0.54 percent, at 9,832.14. The Standard & Poor’s 500 Index was down 7.19 points, or 0.67 percent, at 1,069.00. The Nasdaq Composite Index was down 5.16 points, or 0.24 percent, at 2,133.98.

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Cellceutix Pharmaceuticals, Inc. is an emerging bio-pharmaceutical company in the business of developing small molecule therapies in areas of unmet medical need. The Company’s primary efforts are in cancer and inflammatory disease. What differentiates this company from others involved in cancer drug development is their lead product, Kevetrin, which has been shown in cell and animal models to be highly effective in treating drug-resistant cancers. The Company has recently announced some exciting results in animal models of multi-drug resistant lung and breast cancer. Cellceutix is located outside of Boston, Massachusetts. The senior management of Cellceutix is composed of people with long experience in researching, developing and marketing innovative pharmaceutical products.

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