I too once owned CLRX shares, I too thought CLRX had a great idea...with precision medicine, you would need reports to enable physicians to know how to process the personalized data. Then, they supposedly signed Life Technologies, a gorilla in the DNA space (later bought by Thermo Fisher). Revenue was supposed to ramp at CLRX once testing volumes increased. But, after several quarters of waiting, and no revenue appearing, Mika started to discuss deals with Everyday Health and some type of advertising model...instead of a fee per test model. No ramp was coming. The advertising model sounded like a bunch of crap, and how many doctors were really going to use CLRX's tools on Everyday Health site...the business model felt wrong...and $1 million per quarter of expenses, saw a $6 million post TGAL/CLRX merger Cash Balance dwindle quickly. This is when I got out, thankfully. Then, the head of business development, Gavin, was let go. He was literally the only guy on the senior management team who really knew the data behind the CLRX reports. I was shocked he was let go. But, then I remembered the anti-Mika comments that Eqivacation was posting from the first day that I bought CLRX shares, and nothing surprised me. I just wished I listened to him from Day 1...it would have saved me a lot of money.
The bottom line: I really do think it's criminal that a guy like Mika, who has pissed away millions and millions of shareholder value as CEO of several firms, can continue to stay at the healm. Recall TGAL was a spin-out of Motorola and once had a $150 million valuation...with Mika at the helm, it all went away, ventures in nanotechnology and solar written off, and then the CLRX acquisition / promise, only to piss that down the drain, forcing a merger with Medytox. And, despite contributing only a tiny percentage of equity value to the combined company, Mika winds up being Chairman of the pro forma company. Amazing.
"The PK data are reinforcing the Company's belief that with its short half-life, Kevetrin may provide an even greater therapeutic benefit with multiple weekly treatments. Since Kevetrin acts through transcription factor p53 and regulates many pro-apoptotic genes, the sustained exposure of Kevetrin is required to activate the apoptotic pathways in tumors. Cellceutix's goal is for the patient to have prolonged exposure to Kevetrin by dosing multiple times so that the tumor with different stages of mutations get ample time to activate the cell death signaling."
Talk about SPIN. Even the most Long of the Longs on this stock must be objective and think about this again.
It certainly seems to me that the short half-life doesn't keep the drug in the body's system long enough to be effective.