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CTIX will be trading on the smaller Nasdaq market, not the big board. We won't see CTIX scrolling on CNBC next to GOOG.
NASDAQ Capital Market (small cap) is an equity market for companies that have relatively small levels of market capitalization. Listing requirements for such "small cap" companies are less stringent than for other Nasdaq markets that list larger companies with significantly higher market capitalization.
http://en.wikipedia.org/wiki/NASDAQ
Karin, The OTCBB market is available to everyone who have trading accounts. Uplisting to a better market will bring more awareness to CTIX, but I don't expect an immediate rally. Most firms/mutual funds restrict buying below 5. Also, zero sales is an eye-sore on any market. I'm more concerned on B's continued delays than an uplisting. B was suppose to be this companies fastest path to sales...
Leo stumbles along to Europe after a 10 percent haircut since Monday's update. Hopefully, they put on a better show than San Fran?
Corporate updates are a lousy way to promote a business. Present the facts as they occur like other public companies. Do we see GE with a corporate update? It was an obvious way to dilute more shares, but Leo got caught with his pants down when buying interest was low.
It's Aspire/CTIX no doubt. Low volume for 3 weeks, the PPS gradually builds ahead of Leo's staged update, then when the reaction is lame, the PPS sells off 10 percent. I'm sure Aspire wished the PPS was much higher before dumping shares, but they receive shares at a much lower price. Funny how the volume dies off at 400K... Lets start the process all over again...
Thefamilyman, A little of everything you suggested. Why is there any urgency to buy shares when continued delays persist. There's not enough demand (stock interest) to support the needed dilution.
Can't blame tax selling. This decline is solely on Leo. 5 press release mentions on upgrading to the Nasdaq? Cmon Leo, start acting like a real CEO with regards to communication. The OTCBB pumping days should be behind you.
No more corporate updates!!! Every time Leo hints of an update, the PPS goes nowhere but south. Just post results as they occur... Makes the company look desperate when Leo mentions market upgrade "several times" and we're still waiting.
Clearly, someone is sell happy. This stock has been on a down-trend since the beginning of year. Very disappointing when corporate updates have zero effect. Wish Leo would just post facts as they happen, no more corporate updates and progress reports!!!
58, I'm not sure it would be a good idea to sell the entire company now. The current valuation model and potential value on trial success would be so far apart. Any small company can be had for a hostile takeover. My guess, is that CTIX is being monitored by the bunch, but no substantial offers yet.
58, not certain on a B-offer... Remember, there's still a few hurdles left with B, so maybe the large players stayed away? Just my opinion, since Merck got toasted on the Cubist deal. Not saying there wasn't any interest, but if there were, Leo didn't bite.
Also, how do we know a B-deal was ever in place? That discussion was started on a chat-board.
alexwv, so what your saying is Aspire has zero risk by providing CTIX a line of credit? Cellceutix controls a good portion of the terms in the deal... Yes, they're not handing over a blank check to CTIX, but this is normal business practice for start-ups and small biotechs. If you don't like the terms you have the option to sell. I've been the most critical of Leo, but Aspire has been a good partner compared to most toxic funders that are out there. Still boils down to trial success.
Cellceutix has more options going forward by staying independent with their financing. If they sold part of the company for a B deal, that would limit a "complete buyout" to all parties (biotech/drug). Example: Bristol-Myers signs a B deal with CTIX, Bristol probably has a clause in place where they have first rights for a complete buyout of the company... Now, CTIX is/has multiple options as the trials proceed...
BigK, Agree 100 percent! Aspire has been a decent partner, so why not continue this trend. Then one day, they'll have the option to sell the entire company for greater value... Of course, the trials have to be positive for a maximum return. GLTY
Dilution is part of the growing process. How else can CTIX survive without issuing shares for working capital? I know, we all wished a B finance deal was done, but it won't matter if the PPS rises because of trial success.
New finance deal is a positive. It assures financing for all the current/pending trials through 2016. The up-listing needed financial requirements which are now met.
This has to be a record for consecutive red days in a row? Zero buy interest at the ask for sometime now. At least the market is up big, maybe things turn around later?
Leo is preparing more paperwork for the up-listing? It's the third or forth time they need more info? The PR firm that's helping them out must have forgotten a few signatures... LOL
Why would there be another hit piece? The PPS is dropping all by itself. Again, there needs to be more substantial info from Leo where things stand. The delays are killing the PPS.
Jeez, No support left for this stock... With so many things to get excited about, there's clearly an attempt by someone to dump shares at market price. Buyers just gave up with the continued decline. Leo needs some substance in a PR soon, or this is heading to the 2's.
J&J Acquires Pharmacyclics. This bodes well for CTIX and the whole biotech sector.
http://www.bloomberg.com/news/articles/2015-03-04/j-j-said-to-agree-to-acquire-pharmacyclics-for-cancer-drug?cmpid=yhoo
A new board member from an established drug/biotech company would be a great addition. It may also be a clue to the below comments from Leo.
Cellceutix has signed an agreement with a division of one of the largest U.S. pharmaceutical companies for testing Brilacidin as a component of certain implanted devices as a means to prevent infection.
1400, That's dandy, at least you didn't say how many shares...
1400, OK, be sure to accumulate on the dips... The more we can lower the price will be in your favor. After all, your in this until the end (zero or 100)
58nout, Really, 171K now in less than 2 hours is lite trading? Yes, the PPS has died since the up-listing application news. Everyone who follows this stock knows about the up-listing for many months. This stock is purely news driven, so Leo will create as much buzz (up-listing) until more concrete news.
PPS now firmly below the up-listing news. Seems like positive articles (SA) can fuel the "short traders" by acknowledging they exist.
TOB, Thanks for the correction... There are a bunch of Aspire's when searching.
http://aspirecapital.com/people.php
Meet the Aspire team... They seem like a good fit for CTIX who have not bled them dry. Shouldn't need another finance deal until 2016.
The BOD's should be easy to fulfill, the up-listing hopefully by June?
http://www.aspire.biz/our-team/
Ulcerative Colitis Therapeutics Pipeline Report including Brilacidin. It's rather expensive, but distributed and available around the world.
http://www.prnewswire.com/news-releases/ulcerative-colitis-therapeutics-pipelinereview-h1-2015-market-research-report-290760041.html
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Closed in the green which is a nice change. Energy stocks got crushed, hopefully Biotech starts to turn the corner? For Ctix, Amgen and other biotech's it's been a bad start to 2015.
scottsmith, The PPs is falling due to 4 factors. Aspire, shorts, Patent shareholder (who was awarded millions of shares by Menon) and no news. Posts/articles on IHUB and SA should have little effect on the PPS.
Sound the trumpets at CTIX headquarters!!! It's time for a corporate update... A falling PPS is the company's line-of-credit being washed away.
Yes, I'm invested since 2013... Been posting here since 2013 and CTIX is one of my largest holdings. I've been critical with Leo about his PR tactics. He made a great move buying B, since the other 2 (K,P) drugs have progressed slowly. I'm not sure how anyone can rate the CEO good/bad since there's no sales. The PPS had one great (2 month stretch) in the past 2 years. Dr Menon is the main reason for me being invested.. If Leo was replaced tomorrow, I wouldn't lose any sleep.
1400, Clearly you read all of my posts since you reply within minutes? So my bitch-in must have some value for you to respond? Isn't nice to have other opinions on a "public chat forum" than pom-pom wavers?
Drano, so the CEO has a large chunk of stock? I wonder how much he paid for those shares? Leo is probably a millionaire off a business that has zero sales. I'm not concerned about Leo's gifts. It's the little investors who have the most to lose in biotech start-ups. The ones posting on IHUB... Show some responsibility and form a real board and have a SH meeting. Then, talk billion dollar potential, President Obama and up-listing one-day.
58nout, I'm up on my initial investment about 65 percent. The S&P is up about 45 percent since that time. I'm happy, but not blind to the fact that Leo needs to stop with the Obama/up-list chat and focus on real matters!!! Why can't they find board of directors? Where is the SH meeting at? When they qualify to up-list do so, don't care about papers on his desk. The FDA decisions can't be controlled, but finance/company policy can. Until they form themselves into a legit company, the big investors will stay away, while the penny traders feast on news.
I'm not sure how anyone can be complacent being down 7 percent? 30 percent since the biotech conference 4 weeks ago? Leo needs a PR with teeth, form a board already and try finding a partnership for B. The up-listing smoke is all that... The paperwork is still on his desk, then they hire a firm to assist? What is it?
3.41 close, Dow up 300, CTIX down the drain. The pink-sheet market is just dandy.
At least the market is up big today... Takes the sting off a lackluster day in CTIX world. Must be Aspire or the patent winner of shares dumping at market. Biotech has been in a decline the past week as energy rebounds.