Cellceutix Corp (OTC:CTIX) Faces Inevitable Correction

Las Vegas, NV -- (SBWIRE) -- 01/14/2013 -- Cellceutix Corp (OTC:CTIX) has plummeted more than 4 percent in today’s session to $1.79. This can be regarded as a correction for a stock which has been performing since mid December. Though the surge was backed strong volume figure, however traded volume today remains unnoticed.

Cellceutix Corporation recently announced its upcoming clinical trials for Kevetrin(TM). Kevetrin is company’s main anti cancer compound, clinical trials of which are being sponsored by the University of Bologna in Italy and The Italian Coopertive Study Group on Chronic Myeloid Leukemia. Kevetrin is expected to be used in the treatment of strong solid tumors and is argued to have strong wide potential in the market.

It is expected that market potential for the drug under trials is about $5 billion per year that is again for specific cancer type. Incase other cancer types are included in the treatment through the Kevetrin then this represents additional $5 billion per annum.

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