The solid showing comes less than a week after the Beverly, Mass.-based biopharma company reported favorable results in a recently completed preclinical study evaluating its new antibiotic compounds against specific strains of multi-drug resistant Klebsiella pneumoniae.
New Data Becoming Available
In a Sept. 19 announcement, the company said it was less than two months away from having top-line data from its Phase 2b trial of its antibiotic Brilacidin for acute bacterial skin and skin structure infections.
"If we achieve successful data from the recently completed Phase 2 trial, my hope is that people will understand defense in mimetic's potential", Cellceutix’s CEO Leo Ehrlich said, in a statement. "It's no longer a world class antibiotic drug, but a world class platform to fight serious public health threats," he added.
So far, this news has fueled nearly a 12 percent uptick in Cellceutix’s share value.
On Sept. 26, CTIX’s price closed at $2.69, up 28 cents, or 11.62 %, cents from previous day’s close of $$2.41 a share.
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Stellar Biotechnologies Inc. Stock Volume Flat
Stellar Biotechnologies Inc.’s (OTCQB: SBOTF) stock volume was flat Sept. 26, with just 409,965 shares changing hands
In fact, the Port Hueneme, Calif.-based biotech company’s share volume was less than half of its 30-day average volume of 961,848 shares.
Part of the reason Stellar Biotechnologies share value and volume have appeared to hit a snag is the fact that the company continues to promote the value of its developing technology without offering any timetable on just how long it will take before this translates into revenue.
Such lack of specifics and real news has fueled Stellar’s rollercoaster ride, which has seen the company’s lose nearly half of its share value since Aug. 27, when it closed at $2.28 a share.
On Sept 26, SBOTF shares closed at $1.18, up 2 cents from its closing price the previous day of $1.16.
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Advanced Medical Isotope’s Stock Value Falls amid Good News
Advanced Medical Isotope Corp.’s (OTCPink: ADMD) share volume soared Sept. 26, with 24 million shares changing hands, significantly higher than its 30-day average volume of 15 million shares.
The surge in volume is being triggered in part by the Kennewick, Wash.-based medical device company’s recent announcement that it has been awarded a patent for technology related to its brachytherapy products.
The company’s rights for the newly issued patent are a result of its license from Battelle, under which Advanced Medical Isotope exclusively licensed technologies developed at Pacific Northwest National Laboratory and the University of Utah for its proposed brachytherapy products.
These new technology devices are designed to fight cancerous tumors by focusing radiation at them with pinpoint accuracy. Yet, despite the good news and the high volume, the company’s share value continued its long, downward trend.
On Sept 26, ADMD shares closed at 0.0038 cents, down .0004 cents, or 9.52%, from its closing price the previous day of 0.0042.
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