Aegis still positive on CytRx, sees big upside

|About: CytRx Corporation (CYTR)|By:, SA News Editor

Aegis is out with some upbeat commentary on CytRx (CYTR +3%), noting that despite the appearance of "a higher incidence of adverse events on aldoxorubicin ... all grade 3 or 4 thrombocytopenia, mucositis, or nausea / vomiting events are manageable and resolve."

As for the PFS outlook for aldoxorubicin, analyst Ram Selvaraju says "numbers of patients completing either four or six cycles both favor" the drug which, when "coupled with the 22% versus 0% PR rate favoring aldox may be predictive of positive PFS data."

Price target is $7 (so, upside of 200%+ from Friday's close).

For more on the data Selvaraju is referencing, see here.