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Down 20 percent in 6 trading days is typical biotech penny market. CTIX started the year trading over 2 bucks. I'm still happy the stock's up 30 percent year-to-date.
CTIX has lost it's mojo. The penny traders have all vacated, followed soon by the new IHUB posters. All we need now, is the Leo PR machine turned back on. Welcome to biotech small-cap world. We don't need an up-listing... LOL
Leo, Initiated the up-listing chat "a year ago" in a corporate update. It's part of the growth process for the company. Regardless of when they up-list, it's a benefit to the company/shareholders. As we see today, no news and the stock drops 5 percent? Would I want my line-of-credit (PPS) trading on a suspect market? That's Leo's call...
CTIX cannot up-list to the NY Exchange. As Big K pointed out there's too many requirements for CTIX.
http://usequities.nyx.com/regulation/issuer-oversight/listing-standards/us
Distribution & Size Criteria
Must meet all 3 of the following:
Round-lot Holders (a) (b) 400
Public Shares (b) 1,100,000 outstanding
Market Value of Public Shares (b,c)
IPOs, Spin-offs, Carve-outs, Affiliates
$40 million
All Other Listings $100 million
Stock Price Criteria
All issuers must have a $4 stock price at the time of listing
Financial Criteria
Must meet one of the following standards:
Alternative #1A - Earnings Test (g)
Aggregate pre-tax income for the last three years (d) $10 million
Minimum in the most recent year $2 million
Minimum in the next most recent year $2 million
Positive amount in all three years
Alternative #1B - Earnings Test (g)
Aggregate pre-tax income for the last three years (d) $12 million
Minimum in the most recent year $5 million
Minimum in the next most recent year $2 million
Alternative #2a - Valuation with Cash Flow (g)
Global Market Capitalization (f) $500 million
Revenues (most recent 12-month period) $100 million
Adjusted cash flow:
Aggregate for the last three years $25 million
Positive amount in all three years
Alternative #2b - Pure Valuation with Revenues
Global Market Capitalization (f) $750 million
Revenues (most recent fiscal year) $75 million
Alternative #3 - Affiliated Company
For new entities with a parent or affiliated company listed on the NYSE
Global Market Capitalization (f) $500 million
Operating History 12 months
Parent or affiliate is a listed company in good standing
Company's parent or affiliated company retains control of the entity or is under common control with the entity
Alternative #4 - Assets and Equity
Global Market Capitalization (f) $150 million
Total Assets $75 million
Stockholders' Equity $50 million
Real Estate Investment Trusts (REITs)
Stockholders' Equity (b) $60 million
Closed-end Management Investment Companies and Business Development Companies (BDCs)
Market Value of Public Shares (b) (c) $60 million
Total Market Capitalization $75 million
CTIX has no sales, it trades on a manipulated market, so it moves up/down with no reason... Down 6 percent today "with no news" is a prime example. My concern with Karin's email "from Leo" is that he's concerned with diluting shares to up-list. However, the PPS is their line-of-credit, so the market they trade on is important.
Hope Leo up-lists soon!!! Diluting shares to up-list is part of the growing process. As we can clearly see, this stock is too heavily manipulated due to the market it trades on.
These Medical Stocks Are Reaching A Fever Pitch Following Midterm Elections.. Nice plug for CTIX.....
http://finance.yahoo.com/news/medical-stocks-reaching-fever-pitch-144100491.html
PR News for CTIX from Accesswire... Shows up in Yahoo news... Probably, the cause of the rally?
http://finance.yahoo.com/news/medical-stocks-reaching-fever-pitch-144100491.html
Exactly, why I don't pay attention to the stock price on an hourly/minute basis. Some here, appear to have much free time... What happened to all the market-maker manipulation posts on IHUB?
Don't see many of those since the huge rally? Again, the daily price action is only relevant to those buying/selling...
Not enough supply (shares) for the demand. The hard work put in by Leo and crew is "finally" being rewarded.
BigK, My opinion, the great potential here still outweighs the risk. However, It's obvious the patent dispute was ongoing for a long-time, it's just now the settlement was reached. I do believe the higher stock price cushioned the blow... Whether Leo wants to admit that or not... Thanks
16 million shares is the big concern... Interesting, CTIX makes this announcement after the huge run-up? Potentially, there can be 2 big sellers of stock? Aspire and the forgotten partner. Are we so sure he'll hold the shares long-term?
Fear? CTIX needs share sales to operate. Wouldn't it make sense for Aspire to sell funds along the way?
Unless one needs the shares instantly, I'm not sure why "some" investors (I'm assuming) worry about MM's and so on... Where were those concerns when the stock increased (30 percent) in 2 weeks? Most buyers are not going to use market orders... Limit orders are the way to accumulate CTIX. CTIX had a huge run, it's expected to stall or retreat some.
Funny, blame the MM's chat again... So, the ones complaining about the market makers, are they buying shares at the ask I wonder? Or even better, market price. LOL
Dr Menon heading to India for a conference...
http://www.pharmabiz.com/NewsDetails.aspx?aid=83770&sid=1
Experts like Krishna Menon of Cellceutix Corporation from USA, Daniel Galbraith of Bio Outsource Ltd from United Kingdom, Rodeina Challand of PRA Health Sciences from UK and Kamali Chance of Quintiles from UK are expected to focus on areas of emerging biosimilars in therapeutics and clinical studies.
CTIX more powerful rally back in March. From 1.40 to 1.90, eventually swallowed whole by Aspire/traders. We're also unchanged on the year, so lets put everything in perspective, so we don't get upset if the PPS drops back to lower levels. Is anyone on this board buying over 2 I wonder?
Easy come, easy go... Leo needs to up-list this stock if he can and rid himself of Aspire... 3 times per/year this stock follows the same pattern. Up 3 or 4 days, makes a 15 to 20 percent gain, volume then drops, stock falls back to the 90 day average.
Blame the market makers? LOL Don't read anyone's displeasure about MMS when the stock rallies? Hard to justify buying "over 2 bucks" after a 20 percent move... We'll see what happens after the next PR?
Well, that was fun... going to take trial data or a partnership for the next run...GLTY
Aspire, cashing in their chips............
See if Aspire refrains from selling? We've seen these rallies three times this year... Lasts about 3 or 4 days then drifts back down to the 90 day average....
Aspire keeping a lid on any rally. Similar pattern on a daily basis. Up on news, a slow decline back to unchanged or down. Hopefully, Leo can receive a better financing deal as the trials progress?
LEO reads IHUB too much... He pleased the ones hungry for PR's, instead of issuing a PR when enrollment was filled. Expect another PR this month on completion...
Can't blame the market makers for the stock decline. It's supply and demand for shares. CTIX is diluting shares to pay the bills. Aspire is funding CTIX's line of credit. Why do people blame the market makers when it's obvious what's going on? What reverses the trend will be "positive" trial results or a partnership deal. Until then, it's more the same.... GLTY
9 trades today of 5K or more shares.... Seems ready for a breakout here...
http://finance.yahoo.com/q/bc?s=CTIX+Basic+Chart&t=1d
When real news occurs the stock will rise.... Meaning, positive test results or financial contracts with legitimate companies. Right now, the same old continues... LEO, pumping out the PR's hoping to increase volume.... Volume pays the bills....
Septmike, News is all perspective... What moves the stock will be POSITIVE final results. Meaning, the last trial which signals the next stage.. Marketing and selling!!! The hope here is a marketing agreement "with a larger partner", ahead of final results... If not, then the continued "trading pattern" continues...
Pfizer will become a foreign "holding" company to avoid higher taxes??? Eaton (ETN) did the same thing with their purchase of Cooper Industries (Ireland). US must either, reduce corporate taxes, or change laws on making these transactions so easy...
Pfizer's pursuit of AstraZeneca raises a huge public policy red flag. It plans to move its holding company to Britain from the United States so it can achieve a much lower tax rate and use cash that it has held abroad to avoid paying United States taxes.
Funny, you must have won a few bets lately... GLTY
I believe, they'll raise equity with bond sales and offer PFE shares in exchange. Cash is king, they won't want to leverage more than 50 percent... Cutting the dividend was the result of using too much cash.. They won't make that mistake twice....
Pfizer cut their dividend back in 2009 for the Wyeth deal. I doubt, they would leverage as much cash as some are suggesting. They'll do what Verizon just did (Vodafone), raise cash with bond/stock sales....
Pfizer will halve its dividend and raise $22 billion in debt to buy rival Wyeth for $68 billion in an acquisition aimed at softening the blow of losing its biggest product to generic competition.
Bristol-Myers Squibb buys out iPierian... Interesting deal as the whole industry is in consolidation mode. The value of this transaction, makes CTIX undervalued by a large amount...
The acquisition gives Bristol-Myers Squibb full rights to iPierian’s lead asset IPN007, an innovative preclinical monoclonal antibody that represents a promising new approach to treat progressive supranuclear palsy (PSP) and other Tauopathies, and has the potential to commence Phase 1 clinical trials by early 2015. Genetically defined diseases, such as PSP, are caused by a known change in the genome. Knowledge of this genomic change is then used to design a therapeutic approach aimed precisely at that molecular defect, such as the anti-Tau antibody for PSP.
Under the terms of the agreement, Bristol-Myers Squibb has acquired all of iPierian’s issued and outstanding shares of capital stock and all common stock equivalents in an all cash transaction for a purchase price of $175 million, with the potential for additional development and regulatory milestone payments totaling $550 million, along with future royalties on net sales. The transaction is expected to be accounted for as an asset acquisition for Bristol-Myers Squibb resulting in a $175 million charge during the second quarter of 2014.
“As part of our evolution to a diversified specialty BioPharma company, we have identified genetically defined diseases as an area where the company has an opportunity to significantly advance the standard of care for patients with limited treatment options,” said Francis Cuss, executive vice president and chief scientific officer, Bristol-Myers Squibb. “The acquisition of iPierian supports our growing efforts in this area and builds on Bristol-Myers Squibb’s internal expertise and alliances focused on the Tau pathway and neurodegenerative diseases.”
https://finance.yahoo.com/news/bristol-myers-squibb-acquires-ipierian-110000177.html
CTIX made a similar move back on January 24th... The past few years, every-time an article comes out, a sell-off happens a few trading days ahead... Let's hope LEO can confirm the rally with some legit NEWS... Maybe, a partnership is in the works? Big Pharma is in buyout/consolidation mode this week.
http://finance.yahoo.com/q/hp?s=CTIX+Historical+Prices
Apparation, So you believe Aspire has no protection to the down-side in CTIX stock? Geez, I wonder how many lenders were knocking on Leo's door to lend them multi-millions? Aspire, wouldn't be in business long if they structured deals so-one-sided... Hey Aspire, It's Leo, I need another million!!! BTW, I'll tell you guys when to buy and sell the shares... LOL
Sure Karin, it's not toxic... Aspire will just write CTIX blank checks and not protect themselves to-the-downside??? Again, it's a race of time, as the "OTC market" dictates the future of CTIX. Exactly why LEO's PRS have no impact on the PPS... Besides Aspire, how many shares are they using to pay bills with? CTIX, needs a partnership ASAP, not a toxic lender, but a legit company...
ormatech is a former vendor of ours which had had received 184,375 shares of Cellceutix Class A Common Stock (“Cellceutix Stock”) for services that were not completed. Formatech had gone bankrupt while still in possession of the Cellceutix Stock. In July 2012, the US Bankruptcy Court allowed the trustee of the Formatech estate to sell the Cellceutix Stock. We have been advised that the stock has been sold in 2013 and the funds released to the secured creditors of Formatech. Cellceutix presently is in the unsecured creditors class and does not expect to receive any proceeds.
2. Going Concern
The accompanying financial statements have been prepared assuming the Company will continue as a going concern. For the period since June 20, 2007 (date of inception) through December 31, 2013, the Company has had a cumulative net loss attributable to common stockholders of $22.3 million and a working capital deficit of $3.8 million at December 31, 2013. As of December 31, 2013, the Company has not emerged from the development stage. In view of these matters, the ability of the Company to continue as a going concern is dependent upon the Company’s ability to generate additional financing. Since inception, the Company has financed its activities principally from the use of equity securities, debt issuance and loans from an officer to pay for its operations. The Company intends on financing its future development activities and its working capital needs largely from the issuance of debt and the sale of equity securities, until such time that funds provided by operations are sufficient to fund working capital requirements. On October 25, 2013, we terminated a previous agreement with Aspire Capital Fund, LLC, an Illinois limited liability company (Aspire Capital), and entered into a new stock purchase agreement (the “Purchase Agreement”) with Aspire Capital.
The Purchase Agreement provides that upon meeting the terms of the agreement, Aspire Capital is committed to purchase up to an aggregate of $20,000,000 of our shares of Class A Common Stock over the approximately 36-month term of the Purchase Agreement. In consideration for entering into the Purchase Agreement, the Company issued to Aspire Capital 210,523 shares of our Class A Common Stock as a commitment fee. The commitment fee will be amortized as the funding is received. The unamortized portion is carried on the balance sheet as deferred offering costs. Concurrently with entering into the Purchase Agreement, the Company agreed to file one or more registration statements as permissible and necessary under the Securities Act of 1933, as amended, or the Securities Act, for the sale of shares of our Class A Common Stock that have been and may be issued to Aspire Capital under the Purchase Agreement. On November 4, 2013, the Company filed a Form S-3 registration statement and the registration statement was declared effective by the SEC on November 15, 2013.
These factors raise substantial doubt about the Company's ability to continue as a going concern. The accompanying financial statements do not include any adjustments relating to the recoverability of the recorded assets or the classification of liabilities that may be necessary should the Company be unable to continue as a going concern.
You mean, they have a process in place, where they HOPE to sell a drug some day? They're valued at 160 million for this... Which is more than fair...
Manufacturing? Are they manufacturing a drug we all don't know about? One which is being sold to the public. The current market cap is 160 million, how much do you believe their manufacturing process is worth?
How does that add to the market cap? What adds to the market cap is sales, which leads to a higher value... I believe, other biotech start-ups have had government assistance? Not all of them are in business today... CTIX needs a partnership deal, the wait/costs are too long to string out these trials.
Cabel, I must be doing a good job of scaring!!! Have you noticed the PPS lately? LOL