CytRx Corporation (NASDAQ: CYTR) is having a relatively strong start to the trading session this morning, and for good reason. The company presented breakthrough data, suggesting that four candidates may be qualified for Investigational New Drug status, enabling clinical studies on the treatments. Of course, this proved to be exciting news for investors who are pushing the stock upward. Today, we’ll talk about:
- The data that was released;
- what we’re seeing from the stock as a result;
- and what we’ll be watching for ahead.
CYTR Presents Breakthrough Clinical Data
As mentioned above, CytRx Corporation is having a strong start to the trading session this morning after presenting breakthrough clinical data. The presentation took place at the American Association for Cancer Research (AACR) 2018 Annual Meeting. During the presentation, the company provided four posters featuring comprehensive and statistically significant efficacy data surrounding its albumin binding ultra potency LADR™ (Linker Activated Drug Release) candidates. These candidates are known as LADR-7, LADR-8, LADR-9 and LADR-10.
In the release, CYTR announced that each of the four candidates mentioned above demonstrated robust complete and partial responses as well as long-term antitumor activity in various cancers. These cancers included Melanoma, Lung Cancer, Breast Cancer, Ovarian Cancer, Head and Neck Cancers, and Renal Cell Cancers. As a result of the strong data, the company announced that all four candidates are eligible to advance to Investigational New Drug (IND)- enabling studies. In fact, the company said that it is expecting to file IND applications on one or more of these candidates this year. In a statement, Felix Kratz, PhD, Vice President of Drug Discovery at CYTR, had the following to offer:
The goal of our ongoing research is to utilize CytRx’s unique LADR™ technology to harness the power and potential of known, efficacious anti-cancer compounds where development has been impeded due to systemic toxicity… A critical element of the LADR™ platform is its ability to bind anti-cancer molecules to albumin, the most ubiquitous protein in human blood plasma, and then to release the highly potent cytotoxic payload at the tumor site. This technology allows for the delivery of higher doses of drug directly to the tumor, while avoiding much of the off-target toxicity observed with the parent molecules. The posters presented at AACR this year highlight the positive scientific findings that led to our decision to select auristatin E (AE) derivatives LADR-7 and LADR-8, and maytansine derivatives LADR-9 and LADR-10, as the next LADR™ candidates eligible to advance toward IND-enabling studies. The compounds demonstrated excellent, long-term antitumor activity across a wide range of human solid tumor cancer types, including lung, breast, ovarian, head and neck, renal cell, and melanoma.
What We’re Seeing From The Stock
With the news that four new treatment candidates are showing promising results, and that the company intends on pushing these candidates into clinical trials, it’s no surprise that investors are excited about CytRx Corporation today. Of course, that excitement can be seen in the strong gains that we’re seeing on the stock in the pre-market this morning. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:07), CYTR is trading at $2.02 per share after a gain of $0.10 per share or 5.21% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on CYTR. In particular, we’re interested in following the development of the LADR™ candidates as well as the rest of the company’s pipeline. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!