Meyer notes that since CytRx was the topic of a bullish article on Seeking Alpha in mid-September, shares have cruised more than 25 percent higher, further boosted by an overall rally in the biotech space. It is notable, however, that shares are slightly lower in Thursday trade, weighed by the broader down market.
CytRx has a strong product pipeline with three candidates in various stages of preclinical and clinical development.
The company’s pipeline includes aldoxorubicin, a newer form of doxorubicin, which is a commonly used form of chemotherapy. Aldoxorubicin is currently being tested for soft tissue sarcoma, glioblastoma multiforme (a form of brain cancer), kaposi’s sarcoma, and a pharmacokinetic study.
Cyt-Platinum is in preclinical studies, being evaluated for the treatment of ovarian cancer and small-cell lung cancer.
Cyt-Topo is in pre-clinical evaluation for colorectal cancer and ovarian cancer.
In his article, Meyer said the CytRx’ stacked portfolio of drug candidates positions the company in a unique position in the biotech industry.
“The recent biotechnology rally has taught us that companies involved in the oncology space are on a significant run and show no signs of slowing down anytime soon,” wrote Meyer. “Because of CytRx’s deep pipeline, investors have a built-in diversification model, which significantly reduces the risk of one specific trial failing.”
For more information visit www.CytRx.com
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