More Good News Push Cellceutix Corp. (OTCMKTS:CTIX) Closer To The $5 Mark

[[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]][[tagnumber 4]]Cellceutix Corp. (OTCMKTS:CTIX) has had a great run over the past several months and even though there was some hesitation in November, as the ticker was hovering right above the $3 per share mark, the overall gain since the beginning of August is upward of 170%.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]] [[tagnumber 0]] [[tagnumber 8]] [[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]The upward movement in the past months was fueled by some press releases that showed some optimism about the company‘s future and managed to not only push the price up, but also attract some investor attention as [[tagnumber 15]]CTIX [[tagnumber 16]]was thinly traded throughout the first half of the year.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 22]][[tagnumber 22]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]The financial state of the company was also stable enough to sustain the run and by now the market cap of [[tagnumber 15]]CTIX [[tagnumber 16]]has passed half a billion dollars, which is quite a lot when taking into consideration other companies with similar numbers contained in their balance sheets. Here is what [[tagnumber 15]]CTIX [[tagnumber 16]]had to show in their filing for the quarter ended September 30.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 22]][[tagnumber 22]][[tagnumber 8]] [[tagnumber 41]] [[tagnumber 42]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]cash: $7 million[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 49]] [[tagnumber 42]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]current assets: $7.2 million[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 49]] [[tagnumber 42]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]total assets: $12.5 million[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 49]] [[tagnumber 42]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]current liabilities: $7.9 million[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 49]] [[tagnumber 42]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]revenues: $0[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 49]] [[tagnumber 42]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]net loss: $4.3 million[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 49]] [[tagnumber 90]] [[tagnumber 0]][[tagnumber 22]][[tagnumber 22]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]Overall, the financial situation is decent, despite the fact that [[tagnumber 15]]CTIX [[tagnumber 16]]hasn‘t generated any revenues yet. After all, the company is still in the development stage and some time will need to pass before they get the opportunity to get any of their products out on the market. The good thing is that the cash reserves and the have grown quarter over quarter. Unfortunately, so have the liabilities, and the net loss has almost doubled due to increased research and development costs.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 22]][[tagnumber 22]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]This is not that bad, however, as it seems that the company is making progress. Recently, the company issued a press release that announced [[tagnumber 15]]CTIX [[tagnumber 16]]has received a Qualified Infectious Disease Product (QIDP) designation for their Brilacidin antibiotic from the FDA. The investor community responded very positively to the news as is seen from the charts.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 22]][[tagnumber 22]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]After the announcement was made on December 8 the ticker added a decent 34.03% to its value the same day and crossed the $4 barrier, closing the session at $4.49. Investor interest was also strongly felt as we saw 4.2 million shares change their owners, generating nearly $18 million in daily dollar volume.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 22]][[tagnumber 133]][[tagnumber 134]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]The climb then came to a halt, but the trading was still intense and [[tagnumber 15]]CTIX [[tagnumber 16]]recorded daily trade values of $13 and $7 million in Tuesday‘s and Wednesday‘s sessions respectively. On December 10 [[tagnumber 15]]CTIX [[tagnumber 16]]made another announcement. In a press release issued a few hours before the session started the company announced that Prurisol, their potential treatment for placque psoriasis has been given a green light for Phase II study from the FDA.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 22]][[tagnumber 22]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]The ticker barely moved during the session, but managed to add 5.73% the next day and closed Thursday‘s session with a price of $4.80. The volume that [[tagnumber 15]]CTIX [[tagnumber 16]]recorded was significant once again and the 1.3 million traded shares generated $6.18 million in trade value.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 22]][[tagnumber 22]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]In Friday the stock registered no percentile movement and the share volume dropped below 1 million. This might be a sign that [[tagnumber 15]]CTIX [[tagnumber 16]]is not quite ready to go for the $5 per share mark, but investor confidence is still strong and the message boards are buzzing so we shouldn‘t scratch that out as an option.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 22]][[tagnumber 22]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]Still, we shouldn‘t forget about the considerable amount of shares that were issued at highly discounted prices over the past year. In any case, you should always remember to do your due diligence and weigh out the risks before putting any money on the line as investments are never risk–free, especially in Pennyland.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]]