CytRx Corporation (NASDAQ:CYTR), a biopharmaceutical research and development company specializing in oncology, unveiled its proprietary LADR™ (Linker Activated Drug Release) technology platform, a discovery engine designed to leverage the Company’s expertise in albumin biology and linker technology for the development of a new class of anti-cancer therapies. CytRx expects the LADR™ platform to rapidly expand its pipeline of oncology drug candidates, providing an avenue for the development of propriety drug candidates that complement its global Phase 3 aldoxorubicin program. Among the cancers being pursued are liver, pancreatic, and non-small cell lung cancer.
“LADR™ is a creative, novel approach to the development of next-generation therapeutic drug conjugates, which we have rationally designed to control release in tumors of high-potency chemotherapeutics that are attached to either albumin or anti-cancer antibodies,” stated Dr. Felix Kratz, Vice President of Drug Discovery atCytRx. “These therapies have release properties that minimize their toxic effects on non-cancerous cells, may substantially reduce drug resistance and maximize their anti-cancer potency. With the first drug candidates from this platform expected to enter the clinic in 2016, we look forward to further validating the great potential of this platform in the near future. Our LADR™ Technology can also be easily combined with immunotherapies to potentially improve outcomes.”
“CytRx is committed to improving and extending the lives of patients with cancer through the development of new and innovative therapies,” said Steven A. Kriegsman, Chairman and CEO of CytRx. “LADR™ is an important platform, one that combines our deep knowledge of albumin biology with cutting-edge chemistry and linker technology to deliver a highly potent next-generation albumin and antibody drug conjugate (ADC) drug candidates for cancer treatment. We believe this platform provides us with a number of avenues for near- and long-term value creation. (Original Source)
Shares of Cytrx closed yesterday at $3.55 . CYTR has a 1-year high of $5.42 and a 1-year low of $2.08. The stock’s 50-day moving average is $3.99 and its 200-day moving average is $3.54.
On the ratings front, Cytrx has been the subject of a number of recent research reports. In a report issued on May 22, Imperial analyst Ashok Kumar maintained a Buy rating on CYTR, with a price target of $6, which implies an upside of 69.0% from current levels. Separately, on May 5, Oppenheimer’s Christopher Marai reiterated a Buy rating on the stock and has a price target of $10.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ashok Kumar and Christopher Marai have a total average return of 12.3% and 39.9% respectively. Kumar has a success rate of 59.6% and is ranked #330 out of 3684 analysts, while Marai has a success rate of 72.0% and is ranked #10.
CytRx Corp is a biopharmaceutical research and development company specializing in oncology. Its oncology pipeline includes three clinical-stage drug candidates in various stages of development: Aldoxorubicin, Tamibarotene, and Bafetinib.