Cellceutix Corp (OTCMKTS:CTIX) Dropping Once Again

[[tagnumber 0]][[tagnumber 1]]Cellceutix Corp (OTCMKTS:CTIX) has been trying to recover from the terrible performance that it had in the second half of July and the beginning of August for quite some time now and it has been a hard task.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company has been trying to boost investor confidence with positive press releases, but it doesn’t seem to be working that well for them, especially after the article published on Seeking Alpha by an anonymous user who is openly shorting the stock. The decent numbers in the recently filed 10–K also didn’t help [[tagnumber 6]]CTIX[[tagnumber 7]] regain some lost value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $8.41 million[[tagnumber 13]] [[tagnumber 12]]current assets: $8.76 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $7.29 million[[tagnumber 13]] [[tagnumber 12]]revenues: ZERO[[tagnumber 13]] [[tagnumber 12]]annual net loss: $13.14 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]If you have been following the company for some time you would know that it has some pretty decent numbers to show off, compared to other OTC entities. Still, its market cap is also quite big and is currently sitting between $150 million and $200 million.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Lately, however, we have seen quite a lot of bad news surrounding [[tagnumber 6]]CTIX.[[tagnumber 7]] Some law firms have filed class action lawsuits against the company for allegedly making false claims about the effectiveness of [[tagnumber 6]]CTIX’s[[tagnumber 7]] treatments that are going through clinical trials at the moment.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This brought another 10% drop for the ticker in yesterday’s session and we saw [[tagnumber 6]]CTIX[[tagnumber 7]] drop to $1.584 while a total of 563 thousand shares changed their owners and generated a daily dollar volume of more than $928 thousand.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Today’s announcement that [[tagnumber 6]]CTIX[[tagnumber 7]] will present data about their Brilacidin treatment at the 55[[tagnumber 46]]th[[tagnumber 47]] Interscience Conference on Antimicrobial Agents & Chemotherapy has managed to breathe new life to the stock and we see it 5.43% up as of the writing of this article. Where it will go from here is for time to tell.[[tagnumber 2]]