Cohort Completed in Cellceutix Clinical Trial of Prurisol for Psoriasis

BEVERLY, MA–(Marketwired – May 5, 2014) –  Cellceutix Corporation (OTCQB: CTIX) (the “Company”), a clinical stage biopharmaceutical company developing innovative therapies in oncology, dermatology, and antibiotic applications, is pleased to report that the first cohort of patients has successfully completed enrollment in the Company’s clinical trial of anti-psoriasis drug candidate Prurisol™.

The first cohort received 50mg of Prurisol™, with no treatment-related serious adverse events or dose-limiting toxicity reported. Cellceutix has been advised that a dose escalation to 100mg has been approved for the second cohort and enrollment is underway. The primary endpoint in the clinical trial is to show that Prurisol™ safely converts to abacavir in healthy humans as it did in animal models.

“We are very happy to have completed the first cohort and with the progression of the study to date,” commented Dr. Krishna Menon, Chief Scientific Officer at Cellceutix. ”Enrollment is going very smoothly and we are optimistic that patient enrollment will be successfully completed in mid-June. That will set the stage for us to move forward into a Phase 2/3 trial under guidance from the Food and Drug Administration that a 505(b)(2) pathway is an acceptable approach for accelerated development of Prurisol™.”