CytRx Corporation (CYTR) CEO Spiffs Up Clinical Trial Results And Reveals Plans For An Incredible 2014
1/16/2014 8:28:52 AM
MissionIR Interview With CytRx Embellishes on Clinical Trial Results and Plans for an Incredible 2014
ATLANTA, GA--(Marketwired - Jan 16, 2014) - MissionIR today announces the online availability of its interview with CytRx Corp. (NASDAQ: CYTR) President and Chief Executive Officer Steven Kriegsman, as well as the company's vice president of business development and investor relations David Haen. The full audio interview is available at the following link: http://CYTR.MissionIR.com/interview-jan2014.html.
CytRx is a biopharmaceutical R&D company developing cancer drugs for several indications. The company's lead candidate, aldoxorubicin, is the company's improved formulation of widely used chemotherapy agent, doxorubicin. Phase 2b study results, released in December 2013, showed aldoxorubicin to be superior to doxorubicin by both an investigator assessment and a central lab review. Furthermore, aldoxorubicin was found to be safe and well-tolerated with no treatment-related deaths.
Speaking with MissionIR host Stuart Smith, CEO Kriegsman explained in depth the tremendous value of the results.
"We really had spectacular results in our global phase 2b clinical trial in first-line soft tissue sarcoma. And when I say 'spectacular,' they were highly statistically significant, not just statistically significant... we had great response rates... we saw substantial tumor shrinkage," Kriegsman said.
The trial results triggered a triple-digit rally in CytRx stock, adding to a year of gains. As Kriegsman put it, "It was a wonderful year for CytRx, it was a wonderful year for our shareholders, but most importantly it was a wonderful year for sarcoma patients who were privileged to get aldoxorubicin rather than doxorubicin."
Haen added that aldoxorubicin in the head-to-head study not only met the primary endpoints, it also opened the door for additional therapeutic applications.
"This data is quite robust... this really paves the way that aldoxorubicin is superior to doxorubicin. Now we can look for the next trials with soft tissue sarcoma, but we can also have greater confidence in expanding to other indications where doxorubicin is used because we've shown that [aldoxorubicin] is superior," added Haen.
While 2013 was a powerful year for CytRx in many ways, Kriegsman said it "pales in comparison to what we expect to achieve in 2014," and further embellished on upcoming events and expectations, including an agreement with the FDA, additional clinical trials, possible partnerships and other significant milestones.
About CytRx Corp.
CytRx Corporation is a biopharmaceutical research and development company specializing in oncology. CytRx currently is focused on the clinical development of aldoxorubicin (formerly known as INNO-206), its improved version of the widely used chemotherapeutic agent doxorubicin. CytRx is conducting a global Phase 2b clinical trial with aldoxorubicin as a treatment for soft tissue sarcomas, has completed its Phase 1b/2 clinical trial primarily in the same indication and a Phase 1b study of aldoxorubicin in combination with doxorubicin in patients with advanced solid tumors, and has completed a Phase 1b pharmacokinetics clinical trial in patients with metastatic solid tumors. CytRx plans to initiate under a special protocol assessment a pivotal Phase 3 global trial with aldoxorubicin as a therapy for patients with soft tissue sarcomas whose tumors have progressed following treatment with chemotherapy. CytRx also is initiating Phase 2 clinical trials with aldoxorubicin in patients with late-stage glioblastoma (brain cancer) and AIDS-related Kaposi's sarcoma. CytRx plans to expand its pipeline of oncology candidates based on a linker platform technology that can be utilized with multiple chemotherapeutic agents and may allow for greater concentration of drug at tumor sites. CytRx also has rights to two additional drug candidates, tamibarotene and bafetinib. CytRx completed its evaluation of bafetinib in the ENABLE Phase 2 clinical trial in high-risk B-cell chronic lymphocytic leukemia (B-CLL), and plans to seek a partner for further development of bafetinib.
For additional information, please visit the Company's corporate Website: www.Cytrx.com
This press release may contain "forward-looking statements." Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements may include, without limitation, statements about our market opportunity, strategies, competition, expected activities and expenditures as we pursue our business plan. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot predict the effect that market conditions, customer acceptance of products, regulatory issues, competitive factors, or other business circumstances and factors described in our filings with the Securities and Exchange Commission may have on our results. The company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.
Los Angeles, Calif.
Mission Investor Relations
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