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CytRx surges after being invited to present at prestigious cancer conference

Friday, April 21, 2017 10:25
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(Before It's News)

Shares in cancer treatment specialist CytRx Corporation (NASDAQ:CYTR) surged as it said it would present at the 2017 American Society of Clinical Oncology annual meeting.

The company said an abstract describing results from its global Phase 3 clinical trial evaluating aldoxorubicin, its cytotoxic delivery technology, versus investigators’ choice in patients with relapsed and refractory soft tissue sarcomas (STS) had been selected for an oral presentation.

Aldoxorubicin uses a novel acid-sensitive linker that selectively binds to albumin, shuttling the cytotoxic payload directly into the tumor and potentially sparing the surrounding tissue.

Soft tissue sarcoma is a particularly aggressive form of cancer that occurs in muscle, fat, blood vessels, tendons and tissue.

Around 40,000 new cases a year are reported in the US and Europe, and some 13,000 people die each year as a result of contracting it.

In addition to presenting data from its phase 3 trial, updated data from the company’s ongoing Phase 1/2 clinical trial combining aldoxorubicin with ifosfamide/mesna in patients with first-line soft tissue sarcomas has also been selected for a poster presentation.  

“The Phase 3 trial and the combination trial of aldoxorubicin with ifosfamide continue to build on our prior studies showing the utility of aldoxorubicin as a treatment for patients with STS.  These trials, together with our other clinical and pre-clinical studies of aldoxorubicin, will support our planned New Drug Application submission,” said Daniel Levitt, the chief operating officer and chief medical officer of CytRx.

Shares in CytRx were up 16% in lunchtime trading, valuing the company at US$65mln.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/176743/cytrx-surges-after-being-invited-to-present-at-prestigious-cancer-conference-176743.html

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