CytRx Corporation (NASDAQ: CYTR) is off to an incredibly strong start to the trading session this morning, and for good reason. The company informed investors that it will be presenting data from a key phase 3 clinical trial relatively soon. Of course, this led to excitement among investors, sending the stock upward and prompting our partners at Trade Ideas to alert us to the movement. At the moment (8:47), CYTR is trading at $0.49 per share after a gain of $0.04 per share (8.98%) thus far today.
CYTR To Present Clinical Data
As mentioned above, CytRx Corporation is off to an incredibly strong start in the pre-market hours today after announcing that it will soon be releasing clinical data. The data comes by way of two abstract presentations at the 2017 American Society of Clinical Oncology Annual Meeting. This meeting takes place between June 2 and June 6.
The first presentation will be an oral presentation that offers updated and detailed results from the company’s global Phase 3 clinical trial, a trial designed to evaluate aldoxorubicin compared to the investigator’s choice in patients with relapsed and refractory soft tissue sarcomas. The second presentation is a poster presentation that describes updated data with regard to an ongoing Phase ½ clinical trial that combines aldoxorubicin with infosfamide/mesna (I-M) in first- and second-line STS. In a statement, Daniel Levitt, M.D., Ph.D., CEO and CMO at CYTR, had the following to offer:
“The data from both of these important clinical trials evaluating aldoxorubicin in sarcomas, along with our several other completed clinical and preclinical studies, will form the basis of our planned New Drug Application submission to the U.S. Food and Drug Administration, and we are pleased to share these more mature and detailed results in this peer-reviewed forum with the medical and scientific communities.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CYTR. In particular, we’re interested in the data that will soon be released as well as the company’s ongoing work with aldoxorubicin. We’ll continue to follow the story closely and bring the news to you as it breaks!
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