On June 7, 2017 Cellceutix Corporation, (OTCQB:CTIX) ("the Company"), an emerging biopharmaceutical company, reported to shareholders, and the public at large, that the company name is changing to Innovation Pharmaceuticals Inc. (IPI) and it has received a new Committee on Uniform Securities Identification Procedures (CUSIP) number of 45782D 100 (Press release, CellCeutix, JUN 7, 2017, View Source [SID1234519460]).

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Innovation Pharmaceuticals more accurately describes the innovative nature of our first-in-class pipeline of mid-stage drug candidates. These changes will have no impact on the marketability of the Company’s securities, or the ability to trade the common stock through brokerage firms. Stockholders of the Company are not required to exchange their stock certificates in connection with the name change.

The Company’s common stock will continue to trade under stock symbol "CTIX" on OTCQB until market close on June 8, 2017. Trading on the OTCQB under the new Innovation Pharmaceuticals name and ticker symbol "IPIX" will begin at market open on June 9, 2017.

The Company’s new website address will change to www.IPharmInc.com. In the interim, the Company will maintain www.cellceutix.com.

The name change will be discussed at the upcoming live shareholder and investor conference call, to be held on Thursday, June 8, 2017, at 11am EDT. Senior Company management will be responding to recently posed questions submitted by email. Live call-in questions will also be addressed.