I find it to be more exaggerated optimism and puffery that sucks investors in but those exaggerations never materialize. Take K for example. Here are some quotes from 2011 press releases which I noted in an earlier post. This routine has been played by Leo through the years, where he makes references discussions, terms sheets, million/billion dollar markets, the value of the pipeline drugs and interest in the IPIX pipeline. Yet, the result is always the same - we get nothing.
"Cellceutix’s management has recently applied to have Kevetrin™’s phase 1 clinical trial at a cancer center that is universally recognized as one of the world’s top cancer hospitals. Kevetrin™ has now attracted the attention of many in the pharmaceutical industry with calls and emails coming in regularly to Cellceutix for additional technical information."
“When dealing with the most prestigious institutions globally, the wheels turn a bit slow due to the thorough due diligence of those organizations. These things are unfortunately out of our hands. Most companies never even get this kind of opportunity and it is a vote of confidence in Kevetrin™,” commented Cellceutix CEO Leo Ehrlich. “We are being extremely well thought-out in making decisions as we are in a very unique position with Kevetrin™. We are evaluating every possible scenario that will maximize shareholder value. The word of Kevetrin™ is spreading throughout the industry as is evident in the fact that we have been contacted by many of the world’s foremost pharmaceutical companies inquiring about Kevetrin™. We are as optimistic as ever about our valuable compound and while we aren’t at liberty to discuss all of the details, things are progressing in an extremely positive manner.”
"Of course we have no way of gauging the seriousness in our compound by other pharmas. However, we can say that we are in communication with many of the world’s largest pharmaceutical companies. Our strategy has always been to take Kevetrin in to clinical trials before seeking any deal. The pharmas have asked us to keep an open line of communication and be updated during the planned clinical trial."
"Additionally, when a drug shows this sort of activity across a wide sampling of tumor lines in animals, it greatly increases the odds of efficacy in humans. It is for these reasons that Dr. Menon, our Chief Scientific Officer, is so excited about Kevetrin. Dr. Menon, the inventor of Kevetrin, is considered an expert in reviewing animal data and is often consulted by small and large pharma corporations and universities. Never before has he seen a drug as robust as Kevetrin against cancers. He believes that Kevetrin is outperforming other drugs he had worked on at similar points in development, which eventually became multi-billion dollar blockbusters."
CEO of Cellceutix, Leo Ehrlich, commented, “It is often times difficult to explain the magnitude of the potential of Kevetrin™. Compounds that affect only wild type p53 address only a fraction of the tumors that Kevetrin™ has the potential to treat. This past June, an emerging biopharmaceutical company announced they had signed an agreement with a major pharmaceutical company covering early-stage agents being investigated for their potential to restore tumor cell apoptosis related to p53. Per the announcement, milestone payments could reach approximately $400 million in addition to royalties from sales. It seems that that compound is also at an earlier stage of development than ours. Considering that Kevetrin could potentially address double the number of cancer patients with either mutated or wild type p53, I would expect Kevetrin™ to have a value significantly greater than that.”
