What do you think about this company ??? Seem to be moving up nicely in hope of the drug being approved. Maybe something is cooking ?? Volume on the 26th was way above average due to the news that the drug got fast track status from FDA can't hold the gain on that day but now been trying to move up from the range. If take out 200 MA on closing basis we might have some big gain. ;D
Quote from: yuyjust on October 04, 2005, 03:20:35 AM
If take out 200 MA on closing basis we might have some big gain. ;D
Thanks for your post on this one. Applaud.
I've been watching CYTR since last winter when an analyst from England (forget the name) put a one year price target of $7 on it. That generated alot of speculative excitement, and the stock went to $2.07, then it fizzled.
It went down to a low of $0.75 in May and has been range bound between there and roughly $1.00, as your nice chart shows, until the recent "Gap To Crap" to 1.22 in early September, and another "Gap To Crap" on the news that you mentioned.
I like the fact that the gaps were filled, and that buying interest came back in yesterday on decent volume. I also like the fact that CYTR held its gains yesterday, and closed at the high of the day, at 1.08. Buyers yesterday were willing to hold the stock, and didn't dump it at the close.
Another analyst (forget his name, too) on CNBC touted three RNA technology stocks on March 21, 2005: ALNY, RNAI and CYTR. I liked what he had to say about the potential for these stocks.
On March 21, ALNY was at 7.55. It ran to 15.22 last month, and has pulled back to 11.58.
On March 21, RNAI was at 2.87. It ran to 5.60, and currently is at 4.29.
On March 21, CYTR traded at 1.50, but it hasn't seen that price since. It got cut in half, to $0.75, while the other two stocks doubled in price since March.
The fact that CYTR is back over $1.00 again, and the fact that it's in the news could help it to make a move now, especially if it can take out the high of the Falling Wedge, and get above the Kumo (Cloud) resistance.
anyone like CYTR now? closed Thurs 1/19 at 1.22
weekly history:
http://stockcharts.com/def/servlet/SC.web?c=cytr,uu[r,a]waclyiay[d19950101,20061231][pb10!b30!i][vc60][iut!ub21!la12,26,9!lf!lg!lp14,3,3!lc20!ll14][j66427556,y]&listNum=14
3 year weekly:
http://stockcharts.com/def/servlet/SC.web?c=CYTR,uu[r,a]waclyiay[df][pb10!b30!i][vc60][iut!Ub21!La12,26,9!Lf!Lg!Lp14,3,3!Lc20!Ll14][J66427556,Y]&pref=G
6 month daily:
http://stockcharts.com/def/servlet/SC.web?c=CYTR,uu[r,a]daclyiay[dc][pb50!b200!i][vc60][iut!Ub21!La12,26,9!Lf!Lg!Lh14,3!Li14,3!Lc20!Ll14][J66426041,Y]&pref=G
RSI, MACD, OBV, ADX all strong trending. Recent strong CMF
Quote from: clearcoated on January 20, 2006, 08:05:21 AM
anyone like CYTR now? closed Thurs 1/19 at 1.22
clearcoated,
I like it, along with ALNY and RNAI. See my post from October, above yours. ALNY and RNAI are up nicely since the analyst that I referenced mentioned them, along with CYTR, in March. CYTR is down, but it looks like it wants to go higher, technically.
Quote from: Melf Elf on October 04, 2005, 05:47:59 AM
The fact that CYTR is back over $1.00 again, and the fact that it's in the news could help it to make a move now, especially if it can take out the high of the Falling Wedge, and get above the Kumo (Cloud) resistance.
CYTR closed above the Falling Wedge two weeks ago. This week, it printed 1.23, above the September high of 1.22, so it's "turning the corner" higher. The top of the Kumo (Cloud) is 1.41. Getting above that is the next hurdle.
I like what i see here, a weekly candle close above 200MA & 200EMA.
All indicators all looking good ;) :D ;D
Quote from: Melf Elf on January 20, 2006, 08:35:36 AM
CYTR closed above the Falling Wedge two weeks ago. This week, it printed 1.23, above the September high of 1.22, so it's "turning the corner" higher. The top of the Kumo (Cloud) is 1.41. Getting above that is the next hurdle.
Alister,
I like this one, too.
Yesterday's close of
1.44 was the first close above the Kumo (Cloud), basis the weekly chart. This was the next hurdle after the Falling wedge breakout in early January, and after printing the "higher high," at 1.23.
I've been folllowing CYTR since the winter of 2005 when an analyst in England put a one year price target of $7 on it. We're well shy of that target, but the chart has shaped up nicely the last two months and looks to have more upside.
Quote from: Melf Elf on March 02, 2006, 06:16:36 AM
Yesterday's close of 1.44 was the first close above the Kumo (Cloud), basis the weekly chart.
High volume rally in the last hour, so we should close the week above the Kumo (Cloud). CYTR currently is up 14½% on the day, at 1.58, which will put it on the 52-week high list this weekend.
Nice weekly candlestick for CYTR. Closed at 1.60.
1. It's a 52- week high.
2. It's the first close above the Kumo (Cloud) in two years.
3. It has followed through to the upside since it's breakout above the Bullish Falling Wedge (pattern in blue)
4. It closed above the green down trendline by hair. There are only two data points on that trendline, but it's still good to see that.
The top of the Kumo (cloud) is 1.41, so that should offer support on any pullback. On the other hand, CYTR could catch on fire in the coming weeks.
CYTR: Provides 2006 Update on RNAi-Based Drug Discovery Programs
Thursday , March 09, 2006 09:57 ET
CytRx Corporation (CYTR) reported substantial progress in its drug discovery programs aimed at using its proprietary RNA interference (RNAi) technologies to develop novel molecular medicines to treat obesity and type 2 diabetes.
"During the past year, CytRx-sponsored research programs have discovered and validated approximately 30 new type 2 diabetes and obesity drug targets through the use of our high throughput functional RNAi screening platform. This event supports our continued evolution as a leader in the field of RNAi- based drug discovery in identifying and developing potential treatments for these metabolic diseases," said Steven A. Kriegsman, President and CEO of CytRx.
&
CYTR: Closes $13.4 Million PIPE: Common Stock + Warrants
Wednesday, March 08, 2006 12:57 ET
On March 7, 2006, CytRx Corporation closed a private placement with approximately 23 individual and institutional investors for gross proceeds of $13.4 million. Under the terms of the financing, the Company sold 10.65 million shares of common stock at $1.26 per share and issued warrants to purchase 5.33 million shares of common stock at an exercise price of $1.54 per share. T.R. Winston & Company LLC acted as the lead placement agent on the transaction. The Company also agreed to file a registration statement for the resale of securities.
Quote from: Melf Elf on March 02, 2006, 06:16:36 AM
Yesterday's close of 1.44 was the first close above the Kumo (Cloud), basis the weekly chart.
Nice follow-thru to the upside. CYTR closed yesterday at 2.08, above the 2005 high of 2.07.
NICE CHART !!!! NEW 52 WEEK HIGH !
I hope you know that it is "C-Y-T-R" not CTYR... ;D
Hi
CYTR up 23+% on 10 times the avg vol on the news: ::) ::) ::)
http://biz.yahoo.com/bizj/060829/1338026.html?.v=2
May not be too late to get in.
Lalitha
Jumped on CYTR after it rebounded off the 200-dma.
50dma turning up too :)
Volume has been huge after the drug royalty news a couple days ago. ;D
Very little resistance to 2.30ish. Maybe a little resistance near $2...but with today's volume and follow through...I think it can go higher :)
Hi
This may continue up tomorrow but I locked in my 19% profit.
I will get back in if it pulls back.
In the mean time I am in SCON AND ZHNE.
Lalitha
this one is looking good. ::)
This one is gaining momentum especially with todays follow thru volume............
Nice article today.......... http://articles.moneycentral.msn.com/Investing/StrategyLab/Rnd14/P2/cnbcchampjournal060831.aspx
"Lou Gehrig and a tiny drug stock
advertisement
Buy $10,000 worth of CytRx (CYTR, news, msgs) at the open.
I am buying $10,000 worth of CytRx (CYTR, news, msgs), a biopharmaceutical research and development company that just received a huge $24 million royalty payment from the nonprofit ALS Charitable Remainder Trust for a mere 1% stake of the company's future arimoclomol drug sales.
The deal is relatively nondilutive and looks to help the company speed up its research on ALS (also know as Lou Gehrig's disease), with its lead molecule drug candidate arimoclomol currently in late stage 2 development. The early results indicate that arimoclomol may show promise as a treatment for Huntington's, Alzheimer's and Parkinson's diseases, as well as stroke and cystic fibrosis.
At $24 million for just a 1% stake in sales, we could mathematically imply that the CytRx, as a whole, could be worth in excess of $2.4 billion, or more than $30 per share. With the stock trading at levels giving it about a $100 million market cap, I think there's a lot of upside here, given the funding and increased visibility of the potential value of arimoclomol and company's other drug pipelines focusing on treatment of HIV, obesity, type 2 diabetes and cytomegalovirus using RNAi technology. The company is targeting multibillion-dollar markets.
While it may take awhile to realize the true value for CYTR, I believe the company is on the right path to eventual success. The stock looks extremely cheap here, while the potential could be huge.
Full disclosure: I own shares of CytRx"
Gaining some momentum...............
CYTR's been disappointing :(.
At least the Gap is almost filled. Volume still good and 50dma is turning up.
Post a chart , don't have anymore time for comments tonight.
But it is bouncing off the 200-day MA.
(http://C:%5CDocuments%20and%20Settings%5CRaymond%5CMes%20documents%5CMes%20images%5CCYTR%2014%2010%2006.JPG)
an entry between 1.3...1.4 ? ???
Id..
AP
Volume Spikes: VWPT CYTR LPTH SFUN
Friday October 13, 2:37 pm ET
Viewpoint Shares Trade Unusually Heavily After Company Warns of Softer Sales
NEW YORK (AP) -- The following companies showed unusually heavy volume in Friday trading on the Nasdaq around 2 p.m. Higher-than-normal volume can indicate increased activity by institutions such as mutual funds and insurance companies. Upward stock movement on such volume can show increased confidence among investors, while selling can signal further downward pressure on a stock.
ADVERTISEMENT
Shares of Viewpoint Corp. traded in unusually heavy volume after the New York-based Web search and advertising company lowered its full-year revenue outlook because of soft spending on advertising.
Viewpoint said it expects sales in a range of $17 million to $20 million in 2006, lower than its original outlook of $26 million to $30 million.
More than 3.5 million Viewpoint shares had changed hands by 2 p.m., more than 10 times the normal daily volume of the stock.
Biopharmaceutical research company CytRx Corp. traded heavily despite a lack of any notable news. The company didn't issue any press releases and no analysts released research on the company.
But trading volume exceeded 10.5 million at 2 p.m., far higher than typical trading volume of 864,067 shares.
Shares of LightPath Technologies Inc. traded extraordinarily heavily Friday after the Orlando, Fla.-based maker of fiber-optic products projected sales growth of 63 percent in the fiscal first quarter.
The company expects sales of $4.4 million in the quarter, compared with sales of $2.7 million in the same quarter last year. The defense market segment and communications segment both contributed strong growth, the company said.
Trading volume in LightPath shares reached 2.3 million by 2 p.m., while average daily trading is only 23,288 shares. The shares were up 48.1 percent.
Saifun Semiconductors Ltd., which licenses semiconductor technology, said early Friday it lost a licensing deal from a significant customer, and the news propelled the company's shares into heightened trading.
Saifun, based in Israel, said customer German semiconductor maker Infineon Technologies AG is scaling back its manufacturing of nitride read-only memory chips, which Saifun has patent rights to and collects licensing fees on.
Infineon is not expected to pay licensing or servicing fees to Saifun, Saifun said.
Nearly 2.2 million shares of Saifun had changed hands by 2 p.m., well more than the daily average of 77,518 shares. The stock fell nearly 27 percent.
;D
CytRx says drug granted orphan drug status in Europe
Reuters - October 31, 2006 8:45 AM ET
Related Quotes
Symbol Last Chg
CYTR Trade 1.31 0.00
Real time quote.
CHICAGO, Oct 31 (Reuters) - CytRx Corp.(CYTR) said on Tuesday its lead drug candidate won European orphan drug status for the treatment of ALS, a disease that attacks brain and spinal column nerve cells that control muscle movement.
CytRx said the orphan drug designation would give the company 10 years of market exclusivity in the European Union in the event that its drug, arimoclomol, is approved. The status also provides incentives such as reduced fees for protocol assistance and scientific advice.
ALS, or amyotrophic lateral sclerosis, causes increasing muscle weakness, inability to control movement and problems with speaking, swallowing and breathing. About half of ALS patients die within 18 months of diagnosis and 80 percent die within five years.
great posts stocks2watch2! applaud! keep up the good work! i saw you post on the siga board about cytr. i bought some at 1.44 and 1.45.i almost sold when no news came out at the conf. glad i didnt!!! ;D i wasnt here for the open this morning. hoping for a second surge today.
shes moving again :) :)
nice close today at 1.80 ;D
CytRx Corporation (Nasdaq:CYTR), a biopharmaceutical company engaged in the development and commercialization of human therapeutics, today reported financial results for the three months and nine months ended September 30, 2006.
"The past several months have been highly productive at CytRx. Importantly, as announced in September, we met the primary endpoints of safety and tolerability in our Phase IIa clinical trial with our lead molecular chaperone compound arimoclomol for the treatment of ALS, also known as Lou Gerhig's disease," said Steven A Kriegsman, President and CEO of CytRx. "We also enhanced our cash position through a non-dilutive $24.5 million royalty agreement with the privately-funded ALS Charitable Remainder Trust. It is gratifying to enter into this novel transaction in which we received resources to support our continued development of arimoclomol in return for a royalty of one-percent of our potential worldwide arimoclomol sales. Notably, the beneficiary of the ALS Charitable Remainder Trust is The Greater Los Angeles chapter of The ALS Association, which shares our commitment for treating patients with this life-threatening disease.
"We are making headway toward our plan to initiate a Phase IIb clinical trial with arimoclomol in ALS in the third quarter of 2007, subject to U.S. Food and Drug Administration (FDA) approval. Given the life-threatening nature of this disease and the lack of viable treatment options, we believe that positive safety and efficacy results from the Phase IIb trial could be sufficient for arimoclomol product registration in this indication," he added.
"We also continue to make progress with our RNAi technology platform with programs aimed toward addressing major diseases, including type 2 diabetes and obesity," said Mr. Kriegsman. "RNAi is a technology that has received significant recent scientific and media interest, and we believe CytRx is at the forefront of this technology. We are advised by world class scientists in the field of RNAi drug development, including Craig C. Mello, Ph.D., who this year was named co-winner of the Nobel Prize in medicine for the discovery of RNAi."
Review of Financial Results
For the third quarter of 2006, CytRx reported a net loss of $3.0 million, or $0.04 per share, compared with a net loss of $3.5 million, or $0.06 per share, for the third quarter of 2005. Revenue for the three months ended September 30, 2006 was $776,000 and consisted primarily of service revenue from the research and development aspects of the royalty transaction with the ALS Charitable Remainder Trust. CytRx will continue to recognize the balance of the deferred revenue recorded from the royalty transaction with the ALS Charitable Remainder Trust on a proportional performance basis. Revenue for the three months ended September 30, 2005 was $10,000 and consisted entirely of license fees paid for CytRx's TranzFect vaccine adjuvant technology. Potential revenues from all future license fees under pre-existing agreements are dependent upon successful development milestones being achieved by the licensee.
Research and development expenses were $1.1 million for the third quarter of 2006, compared with $2.0 million for the third quarter of 2005. This decrease was due primarily to the completion of the Phase IIa clinical trial for arimoclomol in the third quarter of 2006 in contrast to the higher expenses associated with the initiation of the Phase IIa clinical trial in 2005. General and administrative expenses were $2.3 million for the third quarter of 2006, compared with $1.5 million a year earlier. The higher level of general and administrative expenses incurred in the third quarter of 2006 resulted primarily from increased salary and benefit expenses of $530,000 and professional fees of $330,000. On January 1, 2006, CytRx adopted Statement of Financial Accounting Standards No. 123(R) (SFAS 123(R)), "Share-Based Payment." As a result, CytRx recorded approximately $379,000 in stock-based compensation expense for the third quarter of 2006. Results for the third quarter of 2005 do not include SFAS 123(R) compensation expenses.
CytRx reported a net loss for the nine months ended September 30, 2006 of $12.6 million, or $0.19 per share, compared with a net loss of $11.5 million, or $0.20 per share, for the nine months ended September 30, 2005. Revenue for the first nine months of 2006 was $837,000 and consisted primarily of revenue recorded from the royalty transaction with CytRx's ALS Charitable Remainder Trust, while revenue of $11,500 for the first nine months of 2005 consisted entirely of license fees paid with respect to CytRx's TranzFect vaccine adjuvant technology. The Company recorded approximately $1.1 million in stock-based compensation expense for the first nine months of 2006.
As of September 30, 2006, cash, cash equivalents and short-term investments totaled $33.7 million, compared with $8.3 million as of December 31, 2005. The increase reflects net proceeds of approximately $12.4 million from the private sale of common stock and warrants to a group of institutional investors in March 2006 and $24.5 million from the privately-funded ALS Charitable Remainder Trust for a one-percent royalty interest in worldwide sales of arimoclomol for ALS. Working capital was $31.5 million as of September 30, 2006, as compared with $6.3 as of December 31, 2005.
Third quarter 2006 and recent highlights:
In September:
-- CytRx announced that arimoclomol met the primary endpoints of safety and tolerability in its Phase IIa trial in patients with ALS. In addition, CytRx announced that the Phase IIa trial results demonstrated that arimoclomol crossed the "blood:brain barrier," and indicated a non-statistically-significant trend of improvement in functional capacity as measured by the Revised ALS Functional Ration Scale in the arimoclomol high dose group as compared with untreated patients. Based on these results, CytRx plans to initiate a Phase IIb trial with arimoclomol in ALS in the third quarter of 2007, subject to FDA approval. An open label extension of the Phase IIa clinical trial remains ongoing, and CytRx expects that it will be completed in February 2007.
-- CytRx received $24.5 million in a non-dilutive agreement with the privately-funded ALS Charitable Remainder Trust to fund continued development of arimoclomol and alternatives for the treatment of ALS in return for a royalty of one percent of CytRx's potential worldwide sales of arimoclomol for ALS. The Greater Los Angeles Chapter of The ALS Association is the beneficiary of the Trust.
-- CytRx was awarded a Small Business Innovative Research (SBIR) grant of approximately $222,000 by the National Institute of Diabetes and Digestive and Kidney Diseases, a part of the National Institutes of Heath (NIH), based on CytRx's small molecule and structure-based drug design expertise.
In October:
-- CytRx presented new preclinical data demonstrating that orally-administered arimoclomol improved the functional recovery of rat motor skills damaged by stroke. This early-stage data supports the potential of arimoclomol as a therapeutic treatment in multiple clinical indications.
-- Arimoclomol was granted orphan medicinal product status for the treatment of ALS by the European Commission, providing for market exclusivity in the European Union for 10 years in the event that arimoclomol receives marketing approval, and provides for incentives such as reduced fees for protocol assistance and scientific advice.
-- Mr. Kriegsman received the Lou Gehrig Memorial Award from the Muscular Dystrophy Association, which was presented in recognition of CytRx's dedication to finding a cure for ALS.
CytRx has presented company overviews at the following recently held investment conferences:
-- In August, Scott Wieland, Ph.D., CytRx Vice President of Clinical and Regulatory Affairs, presented at the California Stock Report's 2006 Southern California Investor Conference.
-- In September, Mr. Kriegsman and Jack Barber, Ph.D., CytRx's Senior Vice President of Drug Development, presented at the UBS Global Life Sciences Conference.
-- In October, Dr. Barber presented at the 2006 BIO InvestorForum.
-- Last week, Mr. Kriegsman and Dr. Barber presented at the 8th Annual Rodman & Renshaw Healthcare Conference.
About Arimoclomol
Arimoclomol is one of CytRx's three orally-administered, small molecule compounds. This small molecule drug candidate is believed to function by stimulating a normal cellular protein repair pathway through the activation of "molecular chaperones." Since damaged proteins called aggregates are thought to play a role in many diseases, CytRx believes that activation of molecular chaperones could have therapeutic efficacy for a broad range of diseases. The FDA has granted Fast Track designation and Orphan Drug status to arimoclomol for the treatment of ALS. Arimoclomol has also been granted orphan medicinal product status for the treatment of ALS by the European Commission.
About ALS
ALS is a progressive degeneration of the brain and spinal column nerve cells that control the muscles that allow movement. Over a period of months or years, ALS causes increasing muscle weakness, inability to control movement and problems with speaking, swallowing and breathing. According to the ALS Survival Guide, 50% of ALS patients die within 18 months of diagnosis and 80% die within five years. More than 120,000 people are living with ALS worldwide.
About CytRx Corporation
CytRx Corporation is a biopharmaceutical research and development company engaged in the development of high-value human therapeutics. The Company owns three clinical-stage compounds based on its small molecule "molecular chaperone" co-induction technology. In September 2006, the Company announced that its lead clinical-stage compound arimoclomol met the primary endpoints of safety and tolerability in its Phase IIa trial in patients with ALS. CytRx has a broad-based strategic alliance with the University of Massachusetts Medical School to develop novel compounds in the areas of ALS, obesity, type 2 diabetes and cytomegalovirus using RNAi technology. The Company has a research program with Massachusetts General Hospital, Harvard University's teaching hospital, to use RNAi technology to develop a drug for the treatment of ALS. CytRx Drug Discovery division, located in Worcester, Massachusetts, focuses on the use of RNAi technologies to develop small molecule and RNAi therapeutics to treat obesity and type 2 diabetes. For more information, visit CytRx's Web site at www.cytrx.com.
i admit it, i got scared! :o sold 3/4. locked in profits at 1.86 ;D
Quote from: for3J1M on November 15, 2006, 11:26:12 AM
i admit it, i got scared! :o sold 3/4. locked in profits at 1.86 ;D
Good job, take them profits when you have them. I'm selling a few ;) @ 1.93. I will hold the rest as I think we go over 2.00 and maybe a new 52 week high before years end.
thanks stocks2watch2. i think im FINALLY learning that. i didnt want to get stuck in one of those big drops after a run. this one can move fast and im not always around.ill add more if it drops. good luck to you :)
looking to get in on the pullback. nice find
Hit 2.02 ;D and pulled back a little.
wow,there is that pullback back i was afraid of. i bought a few back at 1.72 ;D
CytRx to Present at NYSSA 10th Annual Biotech & Specialty Pharmaceutical Conference
Business Wire - December 04, 2006 8:30 AM ET
CYTR Trade 1.88 +0.14
Real time quote.
CytRx Corporation (Nasdaq:CYTR) today announced that Matthew Natalizio, CytRx's Chief Financial Officer, is scheduled to present at The New York Society of Security Analysts (NYSSA) 10th Annual Biotech & Specialty Pharmaceutical Industry Conference on Tuesday, December 12, at 9:30 a.m. Eastern Time. The conference will be held on December 12, 2006, 8:30 a.m. to 5:10 p.m., and December 13, 2006, 8:30 a.m. to 4:30 p.m. at NYSSA, 1177 Avenue of the Americas, 2nd Floor, New York City.
A live audio webcast and slide presentation will be available under "Events Calendar" in the "News & Events" section of the Company Web site at www.cytrx.com. An archived presentation will be available for 90 days starting approximately three hours after the initial presentation. To register for this conference or for more information, please visit www.nyssa.org.
NYSSA, established in 1937, is the premier independent forum for the exchange of information among investment decision-makers. A not-for-profit educational organization with over 9,500 members, NYSSA is committed to the promotion of best practices and the highest professional and ethical standards in the investment industry. NYSSA is the largest of the more than 134 societies worldwide that make up CFA Institute, which has more than 83,000 members.
updated chart.
btw. the projected targets are not exact calculations. I'm just eyeballing the nearest # on the chart. Sorry, gotta be more disciplined.
cheers
"CYTR" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Thank You....and good luck with all your trades....make some $$$ 8)
Thanks Setravis, but can you change it to the correct symbol (CYTR)
I just noticed the pop on cytr :'( i missed the news this morning.
http://news.moneycentral.msn.com/ticker/article.aspx?Symbol=US:CYTR&Feed=BW&Date=20070109&ID=6326635
stocks2watch2, looks like you are heading towards that year to date high!
CytRx Corporation Subsidiary, RXi Pharmaceuticals, Licenses ``Nanotransporters'' and Other RNAi Discoveries from the University of Massachusetts Medical School
BusinessWire - January 11, 2007 8:30 AM ET
Related Quotes
Symbol Last Chg
CYTR Trade 2.08 0.00
Real time quote.
CytRx Corporation (NASDAQ:CYTR) today announced that RXi Pharmaceuticals Corporation (RXi), a majority-owned subsidiary of CytRx, has entered into significant new agreements with the University of Massachusetts Medical School (UMMS) to license RNA interference (RNAi) intellectual property for all therapeutic applications. RNAi has been shown to effectively interfere with the expression of targeted disease-associated genes with great specificity and potency, and was co-discovered by 2006 Nobel Laureate Dr. Craig C. Mello, who is expected to become a scientific advisor of RXi pending institutional approval. The agreements include an exclusive therapeutic license with rights to sublicense for nanotransporters, which have been shown to deliver intact RNAi to a number of tissues in animal models. The licenses are contingent upon RXi's receipt of working capital funding in the coming months. Financial terms were not disclosed for competitive reasons.
Tod Woolf, Ph.D., CEO of RXi, stated, "The scientists that founded RXi realized long ago that delivery technology was the key to systemic administration of RNAi. The nanotransporters are the culmination of work carried out since 2003 by Dr. Tariq Rana of UMMS. This new technology, together with our existing RNAi-based intellectual property licenses acquired from CytRx, extraordinary scientific advisors and proven management team provides the foundation required to establish RXi as a pre-eminent company focused exclusively on the RNAi field. With Merck's acquisition of Sirna Therapeutics, RXi expects to compete primarily with industry leader Alnylam Pharmaceuticals as a company dedicated to developing and commercializing RNAi therapeutics. While other competitors have sought collaborators to obtain systemic delivery of RNAi, RXi now has its own potential enabling delivery technology," added Dr. Woolf.
"If RXi is able to offer a new method for treating a broad range of diseases, RNAi therapeutics could become as important as small molecules and antibody drugs," said Steven A. Kriegsman, President and CEO of CytRx.
Licensed Nanotransporter Technology
Tariq M. Rana, Ph.D., Professor and Founding Director of the Program in Chemical Biology at UMMS and developer of the nanotransporters, has reported activity with RNAi delivered with nanotransporters in mouse models at 1 milligram per kilogram - an exceptionally favorable dose. The nanotransporters are highly uniform in structure and are readily formulated by simply mixing with RNAi compounds. Results of this research were presented at the 2006 Keystone Conference.
The RXi licensed technology also includes compounds for the potential treatment of amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease) that can be delivered locally to the central nervous system. The ability to control gene expression in the central nervous system has potentially far-reaching implications for the treatment of a number of neurodegenerative diseases. In addition, the technology includes methods of targeting point mutations with RNAi that may be useful in targeting mutations that cause certain cancers and genetic diseases.
Quote from: for3J1M on January 10, 2007, 12:08:48 AM
I just noticed the pop on cytr :'( i missed the news this morning.
http://news.moneycentral.msn.com/ticker/article.aspx?Symbol=US:CYTR&Feed=BW&Date=20070109&ID=6326635
stocks2watch2, looks like you are heading towards that year to date high!
We did it,just broke out to new 52 week high of 2.33. ;D
This stock is very hot, broke out of its downtrend and is definitely on its way to the mid 3s. I highly recommend this stock.
CytRx Corporation Subsidiary, RXi Pharmaceuticals, Obtains Option to License All Unrestricted Therapeutic RNAi Technologies Developed in the Next Three Years by the University of Massachusetts Medical School
BusinessWire - January 16, 2007 8:30 AM ET
CytRx Corporation (NASDAQ: CYTR) today announced that RXi Pharmaceuticals Corporation (RXi), a majority-owned subsidiary of CytRx, has entered into a master agreement with the University of Massachusetts Medical School (UMMS) that provides RXi option rights to license all unrestricted therapeutic RNAi technology developed at UMMS over the next three years, in return for cash payments and equity. RNAi has been shown to effectively interfere with the expression of targeted disease-associated genes with great specificity and potency.
Following disclosure by UMMS of new, unrestricted RNAi technologies, RXi will have the right, by making a specified cash payment to UMMS, to acquire an option to negotiate on an exclusive basis with UMMS to obtain a worldwide, exclusive license to the disclosed technology on commercially reasonable terms. The option rights are contingent upon RXi's receipt of working capital funding in the coming months. Financial terms were not disclosed for competitive reasons.
Since the co-discovery of RNAi by UMMS scientists in 1998, UMMS has played a leading role in developing potential RNAi therapeutics. RXi is already a licensee to many of these UMMS technologies.
"With this agreement, we gain access to new RNAi technologies developed at UMMS - the birthplace of RNAi. This agreement creates an excellent opportunity for RXi to license leading-edge breakthroughs in RNAi. Technology that we may acquire under this arrangement will further expand our already impressive portfolio of licenses to therapeutic RNAi intellectual property," said Tod Woolf, Ph.D., President and CEO of RXi.
CYTR ready for another leg up?
http://stockcharts.com/h-sc/ui?s=CYTR&p=D&b=5&g=0&id=p98393877330
Quote from: pompano on January 12, 2007, 09:01:53 PM
This stock is very hot, broke out of its downtrend and is definitely on its way to the mid 3s. I highly recommend this stock.
You may be right ;D On our way new high today 2.61.
CYTR making new 52 week highs @2.67
CEO of CytRx Subsidiary, RXi Pharmaceuticals, to Participate on RNAi Panel at Mass High Tech BioForum
BusinessWire - January 29, 2007 8:30 AM ET
Related Quotes
Symbol Last Chg
CYTR Trade 2.64 +0.09
Real time quote.
CytRx Corporation's (NASDAQ:CYTR) majority-owned subsidiary, Worcester, Massachusetts-based RXi Pharmaceutical Corporation (RXi), today announced that Chief Executive Officer Tod Woolf, Ph.D. will present at the Mass High Tech (MHT) 5th annual BioForum on a panel titled, "RNAi: Talking Outloud About Gene Silencing." Scheduled to join Dr. Woolf on the panel will be senior executives from Alnylam Pharmaceuticals, Inc. and Novartis Institute for BioMedical Research, Inc. Topics covered during the panel discussion will include best practices in RNAi research alliances, future RNAi applications and RNAi's impact on industry and academia.
The 5th annual BioForum is being held Thursday, February 1, 2007 from 5:30 p.m. to 9:00 p.m. in Cambridge, Massachusetts at UK Trade and Investment. For additional information about this conference and/or registration information, please visit http://masshightech.bizjournals.com/masshightech/event/2931.
The Mass High Tech business journal focuses on the business and technology challenges in bringing products and services into the marketplace. More than 67,000 MHT readers each week learn about companies and trends that affect the region before they appear in mainstream business publications and the daily newspapers. MHT focuses on intellectual property protection, access to capital, workforce skills and regulatory issues.
About CytRx Corporation
CytRx Corporation is a biopharmaceutical research and development company engaged in the development of high-value human therapeutics. The Company owns three clinical-stage compounds based on its small molecule "molecular chaperone" co-induction technology. In September 2006 CytRx announced that arimoclomol was shown to be safe and well tolerated at all three doses tested in its Phase IIa clinical trial in patients with ALS. The Company plans to enter a Phase IIb clinical trial with arimoclomol in ALS in the third quarter of 2007, subject to U.S. Food and Drug Administration (FDA) approval. The FDA has granted Fast Track designation and Orphan Drug status to arimoclomol for the treatment of ALS. Also in September 2006, CytRx announced receipt of $24.5 million in a non-dilutive agreement with the privately funded ALS Charitable Remainder Trust to fund continued arimoclomol development for the treatment for ALS in return for a 1% royalty from potential worldwide sales of arimoclomol for the treatment of ALS. The Greater Los Angeles Chapter of The ALS Association is the charitable beneficiary of the ALS Charitable Remainder Trust. For more information on the Company, visit CytRx's Web site at www.cytrx.com.
About RXi Pharmaceuticals Corporation
Massachusetts-based RXi is a biopharmaceutical research and development company that will focus on developing RNAi-based therapeutics for the treatment of human disease. RXi's initial focus will be on neurodegenerative diseases, oncology, type 2 diabetes and obesity. RXi has licenses to a diverse series of early patents and patent applications that were filed from 1998 to 2006 in the areas of RNAi target sequences, RNAi chemistry and RNAi delivery.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties described in CytRx's most recently filed SEC documents, such as its most recent annual report on Form 10-K, all quarterly reports on Form 10-Q and any current reports on Form 8-K filed since the date of the last Form 10-K. All forward-looking statements are based upon information available to CytRx on the date the statements are first published. CytRx undertakes no obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise.
SOURCE: CytRx Corporation
CEOcast, Inc. (for CytRx Corporation)
Dan Schustack, 212-732-4300
[email protected]< Return to Previous
Surprising 1-Star Stock
CytRx (Nasdaq: CYTR)
30-Day Return 47.4%
One-Year Return 122.4%
52wk Range: 0.87 - 2.83
Volume: 2,796,617
Avg Vol (3m): 1,173,850
Technicals
Last Price Quote is:
17.47%above 13-day MA
39.26%above 50-day MA
RS Rating: 98
Fundamentals
Key Data:
Market Cap (M): $122.88
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: Mkt Outperform
CYTR looks a little over extended now IMO. Sold all @ 3.00. Nice run from 1.31. Will watch for a pullback for re-entry.
nice trade stocks2watch2! CYTR is pulling back this morning.
CYTR closed up 14% yesterday and up another 6% this morning in pre-market.
Trying to get to know CYTR today.
premarket most active under $10
positive net price
volume at least 100,000
So far INET Big Seller moved away
Alert set at 4.25
premarket high of 4.38
waiting for an institutional blessing (Block trade)
INET Big Seller showing up again.
Hmm, I wonder if that's a bluff.
60 and 15 minute charts are positioned for a run
Is it a coincidence that the AX is at the Offer?
I wonder if the AX is reading this because it just showed size.
For real or bluffing - that I don't know.
Is it taking it down to:
4.00
3.60
3.20
That would be a 4 to 1 ratio
If entering at 4 with a stop of 3.90 and an exit of 4.40
Again at 3.60 with a stop of 3.50 and a target of 4
Again at 3.20 with a stop of 3.10 and a target of 3.60
Tempted to play the building method instead of going with consensus.
Tanked
Momentum low: 3.70 (Selling Volume Capitulation?) (Big red volume outside the Bollinger Band)
Touched middle Bollinger Band on the Recovery Rally: 4.00
Price low: 3.93 (Small red volume inside the Bollinger Band)
Are we going to get big volume when it breaks the Upper Bollinger Band?
Takuri at Hourly Chart with a high of: 4.10
The Squeeze at the minute chart.
False breakout, will it be followed by a real one.
INET Big Seller sitting at High of Takuri.
Would someone big take that offer?
Lots of traders must be holding their bladders right now. ;D
Daily volume higher than yesterday already
The minute chart looks like Trader Vic's 2B.
Tanked again with a higher low this time so far.
Saw a white block(I don't know if that's a buy or a sell)
Does anyone know what it means when a market maker flicker level 2?
I would like to follow up on CYTR today.
pre market most active
positive net price (open above the the doji too)
volume at least 100,000
saw a block trade
nice level 2 set up
previous hour's high = 4.29
premarket high = 4.50
Is it a coincidence that 4.50 is 0.25 above the open?
Caught a ride with the block trade at 4.25 (didn't wait for 25 cents above the open anymore)
Once the trigger is hit, where would be the next resistance after 4.50 be?
Will the Market Makers gun 4.50?
I'm thinking if I should have sold at 4.49 since 4.50 is resistance but if another block trade bought at that price - my reasoning is, that buyer must want to make more.
Unless, that "buyer" was actually a seller selling at the ask.
The Market makers may not gun it but what if retail investors like what they see and buy at the same time...
Will we get the added bonus of a short squeeze?
This may still go up but I'm out at 4.84 (3:46pmET)
Good luck long term holders!
This is how the latest chart looks like for long term holders.
In again at CYTR at 4.95
This time because the AX seemed to have given way
Has it lost momentum already?
Hourly chart and 15 minute chart still showing a positive trend, so far.
The 15 minute chart just made a higher high.
Where's the next resistance? ::)
Maybe time for those few brave shorts to cover? ;D
Just made a new high on the 15 minute chart again.
Some of those market makers are trying to stop this stock from flying by showing size.
Will the demand be stopped so soon?
One of the market maker's tactics is to show size at the ask and swallow weak hands at the bid.
Are they using it here?
Trading range:
High: $5.49
Mid: $5.37
Low: $5.25
Trading Range just got smaller:
High: $5.40
Low: $5.31
Scalpers must be really working right now.
It's good to respect the message that the Market Makers are sending
Got out at $5.47 (0.01 below the AX) at the 3rd green candle(at thtat time) of the 15 minute chart when the 1 minute chart closed below the 8 ma.
Waiting to get in again if a momentum low happens.
The momentum low I'm waiting for is a huge volume at the end of the move when a stock tanks outside the B- of a 1 minute Bollinger Band.
My mental stop would be 10 cents with a target of at least 25 cents profit.
Looking at the most recent chart (stockcharts is delayed - I'm referring to real time chart)
Volume is higher than previous day's already.
Would it close as a shooting star or would it close strong?
Previous hour' high = $ 5.16
Previous hour's low = $4.95
Looks like we have an hourly doji pivot point.
would the risk: reward be worth getting in at 5.16?
If the stop is at $4.94 and the target being $5.49?
How much support is underneath and how much resistance is on top?
I have a tendency to choose the path of least resistance.
Hourly chart created a higher high and the 15 minute chart closed above the 8 ma - a signal for swing traders?
Another set of traders that could jump in are those following the 8ma.
So far, it opened above the 15 minute 8ma but will it close above it - we shall see.
Still has a nice level 2 set up so far.
closed below the 15 minute 8 ma but volume on the hourly chart is higher than the previous hour's as it made a higher high
I have my alert set at 4.11
Looking at $4.10 as support.
Let's see if it will be taken there.
9:41am ET low= $4.56 with volume that did not stand out from the previous minute. Had a reaction rally though at $4.85
10:25am ET low = $4.46 Huge volume outside the B- following the previous tank.
11:04am ET false breakdown (price pierced lower Bollinger Band with low volume)
11:07am ET low = $4.48 Huge volume relative to false breakdown.
momentum low: $4.48(11:07am ET)
Reaction Rally: $4.55 (touched or exceeded BB)
Price low:$4.51(low inside Bollinger Band with low volume)
Entry:
momentum low at: $4.48
Higher High at:$4.5201
previous high at: $4.50
Bid at previous high: $4.50
mental stop at: $4.40
Looking at 4.85 as resistance to be broken.
Went as high as 4.83
second attempt failed to make a higher high
1 minute chart opened and closed below 8
Out at $4.81
History seems to be repeating itself here at CYTR
In at:4.56
mental stop at 4.46
next buy target: 4.10
Out at 4.60
I want to concentrate more on CNLG
I was supposed to take a break already after CNLG's trade but while I was click,clicking - I saw an opportunity at CYTR.
CYTR went very close to my buy point.
Buy point= 4.10
Low of the day = 4.11
I still had to wait for confirmation of strength though.
When it made a higher high at 4.16, I jumped in at 4.14 with a mental stop of 4.04
Looks like blocks are coming back in.
A short squeeze would be really nice to see in here.
I missed that 4.47 spike. It bounced off the 200 ma of the hourly chart.
I'm out at 4.36
This may go up from here.
It's just there's nothing happening much right now.
CNLG looks like it's in the process of tanking.
I'll go there for now.
In at 4.49
It really does make a difference when you're focused on only one stock at a time.
Missing out on the time and sales prints could cost us a lot.
I have to pick up my son from school now.
I'm out at 4.57
Good luck to all.
CYTR starting to look interesting again.
Weekly chart for CYTR
Haven't seen a block trade over 25,000 go by yet but so far:
Above 200,50,and 8ma
Above the weekly and daily highs
positive net price
volume at least 100,000
MACD positive with a fresh cross of the stochastics.
Bid was refreshing 100 shares at 4.44 earlier.
I'm watching 4.50 if it is challenged by block trades on the green.
A print of 20,000 at 4.50 in gold.
Would this be enough to push CYTR to above 25 cents from the open?
The offer side of level 2 is starting to thicken.
Multiple timeframes uptrending and is close to the high of the day.
Market makers trying to prevent CYTR from going up?
20,000 block printed in red.
Big buyer bailing out?
Inspite of that,
Has the market decided to make the 4.50 previous resistance into support already?
Multiple timeframes up and green dominating time and sales.
Trading 25 cents above the open.
Now we have range and liquidity.
Those who are watching level 2.
Level 2 has been showing more risk going long (thick ask and thin bid)
yet CYTR has been going up.
Looks like contrarian thinking has been working here.
Fresh cross on MACD.
Will it break the upper bollinger with Big Volume or is this going to go range trading?
Looks like CYTR bounced on the 15 minute 8ma
15 minute's high= 5.03
15 minute's low = 4.93
previous hour's high = 5.02
previous hour's low = 4.73
15 minute opened and closed below the 8ma
hourly low = 4.91
momentum low entry was 4.83
support areas:
4.86 = previous day's close
4.70 = high of the day before yesterday
4.50 = hourly 50 ma
4.07 = hourly 200 ma
resistance:
5.03 = yesterday's high
42% up move in past two days...
52wk Range: 0.23 - 2.30
Volume: 1,148,762
Avg Vol (3m): 311,406
Technicals
Last Price Quote is:
34.17%above 13-day MA
15.30%above 50-day MA
RS Rating: 22
Fundamentals
Key Data:
Market Cap (M): $25.25
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 03/25/2009
Last Analyst Rating: Buy
8:32AM CytRx files report with the FDA in response to the partial clinical hold on its Phase 2b arimoclomol ALS trial (CYTR) 0.985 : Co announces it has filed a report with the FDA in response to the Agency's partial clinical hold on the Company's Phase 2b efficacy clinical trial with its molecular chaperone regulator drug candidate arimoclomol for the treatment of amyotrophic lateral sclerosis. "We have been working closely with the FDA throughout this process and we are confident that the information included in this report, including results from a detailed animal toxicology study, sufficiently addresses the Agency's concerns. Given the timing of this submission, we anticipate that the FDA will review the report during the third quarter of this year. Again, we emphasize that the FDA's partial clinical hold was unrelated to data generated by human studies and arimoclomol has been studied in seven Phase 1 and two Phase 2 clinical trials without any significant adverse events."
52wk Range: 0.23 - 1.09
Volume: 1,474,638
Avg Vol (3m): 645,323
Technicals
Last Price Quote is:
35.64%above 13-day MA
75.87%above 50-day MA
RS Rating: 96
Fundamentals
Key Data:
Market Cap (M): $84.01
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 08/11/2009
Last Analyst Rating: Mkt Outperform
Money if funneling into healthcare and pharmas irrespective of their promise.
The chart on this shows a breakout...way back when around 0.47
$70m cash, 0 Debt
Total Cash (mrq): 69.70M
Total Cash Per Share (mrq): 0.791
Total Debt (mrq): 0
52wk Range: 0.23 - 1.24
Volume: 3,190,053
Avg Vol (3m): 797,728
Technicals
Last Price Quote is:
14.25%above 13-day MA
49.38%above 50-day MA
RS Rating: 97
Fundamentals
Key Data:
Market Cap (M): $91.57
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 08/11/2009
Last Analyst Rating: Mkt Outperform
chart patter looking like a,
Head and Shoulders Bottom.
Technical Analysis shows a target of $3.30 right now.
But with a cancer reduction of 50% in 43 days, the upside is much higher.
The company said tumors in animals treated with INNO-206 shrank to about one-half their initial volume by the end of 43 days.
"The market has reacted so much because this compound showed such great efficacy in the animal data and because of the potential for being a very large drug,"
52wk Range: 0.24 - 1.72
Volume: 1,140,879
Avg Vol (3m): 1,153,100
Technicals
Last Price Quote is:
3.44%above 13-day MA
14.69%above 50-day MA
RS Rating: 91
Fundamentals
Key Data:
Market Cap (M): $141.51
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: 03/05/2010
Last Analyst Rating: Buy
•InPlay: CytRx announces 2010 clinical and development milestones
8:30AM CytRx announces 2010 clinical and development milestones (CYTR) : "Among our 2010 plans, we intend to broaden our tamibarotene program by evaluating it in a combination therapy as a first-line treatment for acute promyelocytic leukemia. Preparations are also underway to begin three Phase 2 clinical trials with INNO-206 in advanced pancreatic cancer, advanced gastric cancer and advanced soft tissue sarcomas. Also, last week we announced plans to begin testing bafetinib in patients with high-risk B-cell chronic lymphocytic leukemia. INNO-206 and bafetinib have demonstrated results in treating multiple cancers in animal studies. Our development strategy is to test these compounds in advanced-stage cancers, which could allow for rapid indications of efficacy, with the potential for data as early as the fourth quarter of this year. We believe these drug candidates could represent blockbuster opportunities for CytRx with potential revenue exceeding $2 billion."
CytRx Announces 2010 Clinical and Development Milestones...
LOS ANGELES, Jan 21, 2010 (BUSINESS WIRE) -- --- Strengthened Infrastructure in Place to Support Burgeoning Oncology Franchise -
CytRx Corporation (CYTR, Trade ), a biopharmaceutical company specializing in oncology, today announced its plans for 2010 aimed at advancing the clinical development of its high-value drug development pipeline and enhancing shareholder value.
"After successfully completing all of our 2009 goals, we intend to aggressively move ahead this year with multiple oncology development programs with a focus on rapid commercialization," said Steven A. Kriegsman, CytRx President and CEO. "Our oncology compounds are based on known mechanisms of action, which we believe reduces the development risk, while being clearly differentiated from currently approved treatments.
"Among our 2010 plans, we intend to broaden our tamibarotene program by evaluating it in a combination therapy as a first-line treatment for acute promyelocytic leukemia (APL). Preparations are also underway to begin three Phase 2 clinical trials with INNO-206 in advanced pancreatic cancer, advanced gastric (stomach) cancer and advanced soft tissue sarcomas. Also, last week we announced plans to begin testing bafetinib in patients with high-risk B-cell chronic lymphocytic leukemia (B-CLL). INNO-206 and bafetinib have demonstrated results in treating multiple cancers in animal studies. Our development strategy is to test these compounds in advanced-stage cancers, which could allow for rapid indications of efficacy, with the potential for data as early as the fourth quarter of this year. We believe these drug candidates could represent blockbuster opportunities for CytRx with potential revenue exceeding $2 billion," he added.
The Company's 2010 clinical oncology goals include the following:
Drug Milestone Expected
Candidate Timing
INNO-206 Initiate Phase 2 for advanced pancreatic cancer 1H10
Bafetinib Initiate Phase 2 for CLL 1H10
INNO-206 Initiate Phase 2 for advanced gastric (stomach) cancer 2H10
INNO-206 Initiate Phase 2 for advanced soft tissue sarcomas 2H10
Bafetinib Initiate Phase 2 for glioblastoma multiforme 2H10
"Our many clinical and development accomplishments last year laid the groundwork for pursuing these ambitious milestones in 2010. We also expanded our executive management team by adding proven oncology industry veterans in key positions, including Dr. Dan Levitt as Chief Medical Officer to oversee all drug development operations. We strengthened our business development expertise to support our plans to partner select programs and more recently added to our in-house manufacturing experience and clinical and regulatory skills necessary to support manufacturing and product commercialization. Additionally, we improved our cash position, raising more than $18 million in net proceeds in a July 2009 registered direct equity offering. Our 36% holdings in RXi Pharmaceuticals has increased to a market value of approximately $30.0 million as of January 18, 2010 as a result of the recent RXi stock price improvement, further bolstering our potential cash resources."
CytRx provided the following details regarding its 2010 milestones and program updates:
INNO-206: CytRx has recently announced the planned initiation of three open label Phase 2 clinical trials with INNO-206, its pro-drug derivative of the commonly prescribed chemotherapeutic agent doxorubicin. Because each of the clinical trials will be open label, CytRx expects to be able to review data from the trials on an ongoing basis.
"INNO-206 produced statistically significant results in the treatment of multiple solid tumors in a number of animal models," stated Mr. Kriegsman. "INNO-206 is designed to reduce adverse events by controlling drug release and preferentially targeting the tumor. In a Phase 1 study, INNO-206 was administered in doses at up to six times the standard dosing of doxorubicin without an increase in observed side effects over those historically seen with doxorubicin. We believe the market potential for this drug candidate alone may exceed $2 billion."
Pancreatic Cancer
This month, CytRx announced that the Tumor Biology Center, Freiburg, Germany, plans to initiate a Phase 2 open-label clinical trial with INNO-206 as a treatment for patients with advanced pancreatic cancer in the first half of 2010. CytRx will supply INNO-206 for the clinical trial. Worldwide, pancreatic cancer is the eighth leading cause of cancer death, and it ranks thirteenth in cancer incidence. The median survival for patients with pancreatic cancer is typically four to six months, with a one-year survival rate of 24% and five-year survival rate of approximately 5%.
Gastric (Stomach Cancer)
In November 2009, CytRx announced plans to conduct an open-label, multinational Phase 2 clinical trial with INNO-206 as a second-line treatment in patients with advanced gastric (stomach) cancer beginning in the second half of 2010. Gastric cancer claims 800,000 lives annually making it the second leading cause of cancer deaths worldwide.
Soft-Tissue Sarcoma
Also in November 2009, the Company announced plans to initiate in the second half of 2010 a multinational Phase 2 clinical trial with INNO-206 as a treatment for patients with advanced soft tissue sarcomas who have failed surgery and radiation. Worldwide, approximately 25,000 new cases of soft tissue sarcomas are reported and about 10,000 deaths are attributed to this cancer each year.
Tamibarotene: CytRx plans to initiate a clinical trial to develop its oncology drug candidate tamibarotene in combination with chemotherapy or arsenic trioxide (ATO) as a first-line treatment for APL. The Company has received favorable reviews on tamibarotene as a potential treatment for APL from key opinion leaders and has been working with notable clinicians in this field on trial design. The estimated annual market potential in the U.S. and Europe for an expanded label including refractory, maintenance and front-line therapy is up to $150 million.
"Since receiving positive preliminary results last June from our Phase 2 STAR-1 registration trial with tamibarotene as a third-line treatment for APL, we have been taking steps to begin evaluating tamibarotene in a combination therapy as a first-line treatment for this disease, and plan to discuss our proposed strategy for first-line development with the FDA in the first half of 2010," said Mr. Kriegsman. "We see ample opportunity for an APL treatment in patients who prefer not to be exposed to anthracyclines, such as trans-retinoic acid (ATRA), which is the currently approved first-line treatment."
Among other preparatory activities, in September 2009 CytRx initiated a dose escalation clinical trial with tamibarotene combined with TRISENOX(R) (arsenic trioxide) injection (marketed by Cephalon, Inc.) in patients with relapsed APL. An objective of this trial is to determine the appropriate combination therapy dose for evaluation as a potential first-line treatment for APL.
Bafetinib: Bafetinib is a potent, orally available, rationally designed, dual Bcr-Abl and Lyn-kinase inhibitor, which is currently being planned as a third-line treatment for patients with chronic myeloid leukemia (CML) or certain forms of acute myeloid leukemia (AML) that are refractory or intolerant of other approved treatments.
CytRx plans in the first half of 2010 to initiate a Phase 2 proof-of-concept clinical trial to evaluate the efficacy and safety of bafetinib (formerly known as INNO-406) in patients with high-risk B-cell chronic lymphocytic leukemia (B-CLL). Based on trial results, CytRx hopes to conduct a larger comparative trial to further determine efficacy of this agent.
CytRx also plans to initiate a clinical Phase 2 proof of concept clinical trial with bafetinib as a treatment for glioblastoma multiforme, a common and aggressive type of primary brain tumor, in the second half of 2010.
Molecular Chaperone Regulator Candidates: In addition to its oncology franchise, CytRx is developing two drug candidates, arimoclomol and iroxanadine, based on its industry-leading molecular chaperone technology, which aims to repair or degrade misfolded proteins associated with disease. CytRx announced in December 2009 that the FDA had lifted the clinical hold on development of its molecular chaperone drug candidate arimoclomol, which had been in Phase 2b testing as a therapeutic treatment of amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease). CytRx intends to seek a partner for the development of arimoclomol and iroxanadine for all indications on a worldwide basis, and is also exploring the possibility of a spin-out transaction to accelerate the development of the Company's molecular chaperone assets. More information regarding the development programs related to CytRx's molecular chaperone regulator technology is available on the Company's website.
About CytRx Corporation
CytRx Corporation is a biopharmaceutical research and development company engaged in the development of high-value human therapeutics. The CytRx drug development pipeline includes programs in clinical development for cancer indications, including tamibarotene in a clinical trial for the treatment of acute promyelocytic leukemia (APL). CytRx recently announced plans to initiate Phase 2 trials with its oncology candidate INNO-206 as a treatment for gastric cancer and soft tissue sarcomas. In addition, CytRx is developing two drug candidates based on its industry-leading molecular chaperone technology, which aims to repair or degrade misfolded proteins associated with disease. CytRx also maintains a 36% equity interest in publicly traded RXi Pharmaceuticals, Inc. (RXII, Trade ). For more information on the Company, visit www.cytrx.com .
Forward-looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks relating to the ability to obtain regulatory approval for clinical testing of tamibarotene, INNO-206, bafetinib, or the Company's molecular chaperone drug candidates, the scope of clinical testing that may be required by regulatory authorities and the timing and outcome of further clinical trials, the risk that any future human testing of tamibarotene for APL, INNO-206 for pancreatic cancer, gastric cancer or soft tissue sarcomas, bafetinib for B-CLL, arimoclomol for ALS or stroke, or iroxanadine, might not produce results similar to those seen in past human or animal testing, risks related to CytRx's ability to manufacture its drug candidates in a timely fashion, cost-effectively or in commercial quantities in compliance with stringent regulatory requirements, risks related to CytRx's ability to enter into partnerships or other transactions to advance the clinical development of its portfolio of drug candidates, the risk that CytRx will further amend the planned clinical trial protocol for arimoclomol for ALS, or elect not to proceed with clinical development, as a result of future business or market conditions, capital constraints or other factors, the risk that the revised protocol might extend the clinical development timeline for arimoclomol and delay any potential marketing approval for arimoclomol, risks related to the administration of arimoclomol at ascending doses, including the risk that arimoclomol may not prove safe at higher doses, risks related to CytRx's need for additional capital or strategic partnerships to fund its ongoing working capital needs and development efforts, including any future clinical development of tamibarotene, INNO-206, bafetinib, or the Company's molecular chaperone drug candidates, risks related to the future market value of CytRx's investment in RXi and the liquidity of that investment, and the risks and uncertainties described in the most recent annual and quarterly reports filed by CytRx with the Securities and Exchange Commission and current reports filed since the date of CytRx's most recent annual report. All forward-looking statements are based upon information available to CytRx on the date the statements are first published. CytRx undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: CytRx Corporation
For Additional Information:
Legend Securities, Inc.
Thomas Wagner
800-385-5790 x152
718-233-2600 x152
[email protected]