Mississauga, ON -- (SBWIRE) -- 10/11/2016 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Cellceutix Phase 2 Trial Preliminary Data Shows Potential of Brilacidin."
Companies mentioned in this article include iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) and Cellceutix Corp. (OTCQB:CTIX).
The biotech sector has been in a short term downtrend over the last few weeks, however, the sentiment on the sector remains mixed. The iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) has struggled to break through $300 since the sell-off at the start of this year.
The IBB got a boost recently following the announcement of several acquisitions. However, these acquisitions were made at discount to the price levels in mid-2015 when the biotech sector was in the middle of a boom. At best, these acquisitions would provide support to the sector, however, the IBB is likely to remain rangebound.
Shares of Cellceutix Corp. (OTCQB:CTIX) have edged higher in recent days, moving in the opposite direction of the overall biotech sector. Based in Beverly, Massachusetts, Cellceutix is a clinical-stage biopharmaceutical company engaged in developing therapies with oncology, dermatology and antimicrobial applications. The company owns the rights to various drug compounds, including Kevetrin (thioureidobutyronitrile), which is its anti-cancer compound; Prurisol (KM-133), which is in development for psoriasis, and Brilacidin, which is its drug in a class of compounds known as defensin-mimetics.
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