Cellceutix Corporation is an American biopharmaceutical company developing therapies in oncology, dermatology and antibiotic applications.

According to the law firm press release, the lawsuit alleges that throughout the Class Period, Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) Cellceutix’s antibiotic drug candidate Brilacidin is ineffective; (2) Cellceutix’s anti-cancer drug candidate Kevetrin does not activate the p-53 gene, which suppresses tumors; (3) Cellceutix’s co-founder and Director did not earn his PhD in Pharmacology from Harvard University; and (4) as a result, Cellceutix’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On December 18, 2015, the Court issued an Order appointing lead Plaintiff and approving lead Counsel. Lead Plaintiff filed an amended Complaint on January 11, 2016.

On June 8, 2016, the Court issued an Order granting Defendants' motion to dismiss with prejudice.