Here Are The Dates To Watch At Cellceutix Corp (OTCMKTS:CTIX)

Cellceutix Corp (OTCMKTS:CTIX) logged fresh lows of $0.6 a share during the middle of last week, but closed out strong, rising just short of 10% during the session on Friday to hit $0.71. This is one for which we have long been watching out for a turnaround, and which at current capitalization, we feel is dramatically undervalued. The end of last week run might finally be the turning point we have been looking for.A batch of near-term catalysts are set to press over the coming few months, and if they come out as positive for the assets in question, they should compound the shift in sentiment and help to sustain any concurrent upside momentum.We've touched on these catalysts in the past, but management has just put out an update that sets up some firm target dates for their release.In response to this update, here's what we're looking out for.This company is a biotechnology play with three separate assets in its pipeline – each of which has the potential to target a billion-dollar market if it picks up a regulatory green light from the FDA in the US. The assets in question are Prurisol, which the company is developing as a psoriasis therapy; Brilacidin, targeting acute bacterial skin and skin structure infection (ABSSSI), oral mucositis (OM) and ulcerative proctitis/ulcerative proctosigmoiditis (UP/UPS), two types of Inflammatory Bowel Disease (IBD); and Kevetrin, which is an ovarian cancer target.There are three major catalysts that we are watching as the next real value drivers for the company.Brilacidin, Catalyst #1 - July 10 – 13The first is topline data from a phase II trial of Brilacidin in the OM indication. The study is a placebo controlled trial set up to investigate safety and efficacy of the drug when used as an oral rinse, 3 times daily for 7 weeks. We got a preliminary look at the data back in March, and it looked strong, and the topline will build on this interim release. The goal is to show that the drug can be used both to prevent the onset of, and shorten the duration of, OM – something that no current treatments are able to do. If the data comes out as positive, it will underpin a phase III advance, and set the company on a path to approval in a condition that affects half a million people in the US but basically has no effective therapy on the shelves.The data is set for presentation at the Drug Discovery and Therapy World Congress 2017, to be held July 10 – 13, 2017, in Boston.Brilacidin, Catalyst #2 - July 10 – 13Catalyst two will also come at the DDTWC event and also relates to Brilacidin, but this time in the UP/UPS study. This one's a phase IIa and again we got an interim look at the data back in March. The interim analysis was good – not great, but good – and we want to see the company maintain its clinical remission numbers when the topline hits. At last count, half of the patients that took the drug registered as in clinical remission (the primary endpoint of the study) and the other half were in partial remission. We'd love to see the 50% figure strengthen at study outcome, and there's a good chance it will, with the upcoming data including higher doses.Prurisol, Catalyst #3 - Q3 2017Finally, catalyst three is an interim data drop from the Prurisol psoriasis study. This one's a close to 200 patients strong phase IIb set up to evaluate the efficacy of the drug in moderate to severe psoriasis patients, against an endpoint of improvement based on what's called the Psoriasis Area and Severity Index (PASI). It's an oral treatment in a space that desperately needs new assets hitting shelves. There are 8 million psoriasis sufferers in the US alone and many have trouble finding a treatment that is either effective to start out with, or that doesn’t deplete in efficacy over time.Interim data from the study should hit press during the third quarter of this year, and if we see clinical benefit, expect some real strength.We will be updating our subscribers as soon as we know more. For the latest updates on CTIX, sign up below!Disclosure: We have no position in CTIX and have not been compensated for this article.