Cellceutix Announces Kevetrin Dosing Level Increased as Clinical Trials Advance

BEVERLY, MA – December 14, 2012–Cellceutix Corporation (OTCBB: CTIX) (the “Company”), a clinical stage biopharmaceutical company focused on discovering small molecule drugs to treat unmet medical conditions, including drug-resistant cancers and autoimmune diseases, announces today that clinical trials being hosted at Dana-Farber Cancer Institute and Beth Israel Deaconess Medical Center for the Company’s flagship anti-cancer drug Kevetrinä, have advanced to the next cohort.  In addition to patients in the first cohort now receiving their second cycle of dosing, the Institutional Review Board (“IRB”) and Safety Committee have approved escalated dosing levels for the second cohort.  The Company has been advised that the second cohort will begin dosing during the week beginning December 16.

“We are very encouraged with the way the Kevetrin trials are progressing,” said Dr. Krishna Menon, Chief Scientific Officer at Cellceutix.  “At this time, we are eagerly awaiting the pharmacokinetics analysis of the first dosing.”