Cellceutix Corp (OTCMKTS:CTIX) Regains Some Value Before The Weekend

[[tagnumber 0]][[tagnumber 1]]After a pretty good start of July that led the stock of Cellceutix Corp (OTCMKTS:CTIX) above the $3.50 per share mark we saw the ticker began to slide down the charts. The last 10 consecutive session of the month ended in the red for CTIX and it didn’t look like things were going to get better.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]In fact, last Thursday we saw the ticker lose a hefty 29.92% of its value, dropping to $1.71 per share while generating $8.1 million in daily dollar volume. The downward movement wasn’t exactly backed by something, but the massive fall last week was due to an article posted by an anonymous author, who admittedly shorts [[tagnumber 6]]CTIX,[[tagnumber 7]] on a popular investor forum.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The fact is that, even though the company stock might be considered a bit overvalue, [[tagnumber 6]]CTIX[[tagnumber 7]] is one of the strongest companies in the OTC companies when it comes to financials. Their Q1 report showed the following numbers.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 17]] [[tagnumber 18]]cash: $10.8 million[[tagnumber 19]] [[tagnumber 18]]current assets: $17.07 million[[tagnumber 19]] [[tagnumber 18]]current liabilities: $7.3 million[[tagnumber 19]] [[tagnumber 18]]revenues: $0[[tagnumber 19]] [[tagnumber 18]]quarterly net loss: $2.89 million[[tagnumber 19]] [[tagnumber 28]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Not only that, but the company is doing very well in its product development. Currently, [[tagnumber 6]]CTIX[[tagnumber 7]] is engaged in a total of four clinical trials, a lot more than your average OTC biopharmaceutical company that focuses on a single product.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The progress, so far, is good. In the middle of last month the company announced that its Kevetrin drug has been granted an Orphan Drug Designation for the treatment of ovarian cancer by the FDA, which will grant special incentives which will further aid the development.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]So it doesn’t come as much surprise that we saw [[tagnumber 6]]CTIX[[tagnumber 7]] finally finish last week in the green with a 19.88% gain after some more positive PR. The ticker returned to a price of $2.05 while a total of 2.92 million shares were traded and generated $5.51 million in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]So far, [[tagnumber 6]]CTIX[[tagnumber 7]] remains stable above the $2 per share mark in today’s trading as well, but this doesn’t mean that you should skip on doing your due diligence and weighing out the risks before putting any money on the line.[[tagnumber 2]]