The lawsuit alleges a host of material nondisclosures by the company artificially inflated the stock price, including that (1) Cellceutix’s antibiotic drug candidate Brilacidin was ineffective; (2) Cellceutix’s anti-cancer drug candidate Kevetrin does not activate the p-53 gene, which suppresses tumors; and (3) Cellceutix’s co-founder and Director, Krishna Menon, did not earn his PhD in
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