CytRx Corporation (NASDAQ:CYTR), a biopharmaceutical research and development company specializing in oncology, announced that JAMA Oncology, the prestigious peer-reviewed Journal of the American Medical Association (JAMA), has published a paper on September 17, 2015 entitled “First-Line Aldoxorubicin vs Doxorubicin in Metastatic or Locally Advanced Unresectable Soft-Tissue Sarcoma: A Phase 2b Randomized Clinical Trial.”
This paper discusses the design, methodology and results from CytRx’s completed multicenter, randomized, open-label global Phase 2b clinical trial investigating the efficacy and safety of aldoxorubicin compared with doxorubicin as first-line therapy in patients with metastatic or locally advanced unresectable soft tissue sarcomas (STS). It concludes that aldoxorubicin is the first single-agent therapy that has shown significantly superior efficacy over doxorubicin in the primary and secondary endpoints of progression-free survival and overall tumor response rate. Additionally, patients treated with aldoxorubicin exhibited manageable adverse effects, had no unexpected events, and did not exhibit evidence of acute cardiotoxicity.
The full publication can be accessed online here.
“The publication of our global Phase 2b clinical trial results in JAMA Oncology underscores the significance of aldoxorubicin as a potential new therapy for STS as we make progress on our global, pivotal Phase 3 clinical trial for this indication,” said Steven A. Kriegsman, CytRx’s Chairman and CEO. “The fact that aldoxorubicin is the first single chemotherapy to demonstrate statistically significant improvement in progression-free survival, progression-free survival at 6 months and tumor response underscores our confidence in the potential of this drug to benefit patients with advanced STS. We are confident that the publication of these results in a major, peer-reviewed journal will increase aldoxorubicin’s awareness in the STS community.” (Original Source)
Shares of Cytrx are up 6.67% to $3.04 as of 9:37AM EDT. CYTR has a 1-year high of $5.42 and a 1-year low of $1.98. The stock’s 50-day moving average is $2.49 and its 200-day moving average is $3.52.
On the ratings front, Oppenheimer analyst Christopher Marai maintained a Buy rating on CYTR, with a price target of $10, in a report issued on August 4. The current price target represents a potential upside of 250.9% from where the stock is currently trading. According to TipRanks.com, Marai has a total average return of 35.5%, a 60.7% success rate, and is ranked #15 out of 3765 analysts.
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.