August 11, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Cellceutix Corp (OTCMKTS:CTIX) shares was launched over potential securities laws violations by Cellceutix and certain of its directors and officers.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Cellceutix Corp (OTCMKTS:CTIX) concerning whether a series of statements by Cellceutix Corp regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Beverly, MA based Cellceutix Corporation is a clinical-stage biotechnology company focused on discovering small molecule drugs for diseases, including drug-resistant cancers, psoriasis, autism and inflammatory disease. Cellceutix Corps lead cancer compound, Kevetrin, and other oncology compound is Brilacidin-OM.

Shares of Cellceutix Corp OTCMKTS:CTIX) grew from $1.66 per share in August 2014 to as high as $4.80 per share in December 2014.

On August 6, 2015, an article was published revealing that Cellceutix Corp (OTCMKTS:CTIX) misrepresented the efficacy of its drug candidates Brilacidin, Kevetrin, and Prurisol.

Shares of Cellceutix Corp OTCMKTS:CTIX) declined on August 7, 2015, to as low as $1.32 per share.

On August 11, 2015, OTCMKTS:CTIX shares closed at $1.78 per share.