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CytRx Corp. (CYTR) Ready To Join Broader Rally, Says Wall Street Cheat Sheet Writer

|Includes: CytRx Corporation (CYTR)

CytRx was recently featured in an article by author Tom Meyer, who suggests the biopharm company is on the verge jumping in on a broader rally among companies focused on developing treatment for glioblastoma multiforme, the most common and most aggressive of malignant brain tumors.

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Meyers attributes his projection to the recent announcement by CytRx that it has initiated a phase 2 trial of aldoxorubicin, the company's improved formulation of widely used chemotherapeutic agent doxorubicin.

Meyers recaps the progress of peer companies developing similar treatments before jumping into a detailed look at CytRx' phase 2 trial.

"This phase 2 trial follows encouraging preclinical results that were reported earlier this year. Those results indicated that aldoxorubicin demonstrated statistically significant efficacy in the treatment of mice implanted with human GBM tumors. In that study, animals treated with aldoxorubicin had a median survival of 63+ days, compared to just 25 days for animals treated with doxorubicin. Although early, these results certainly indicate that CytRx may have a very bright future," he writes.

In conclusion, the Wall Street Cheat Sheet writer concludes that, "Although investing in a small-cap biotechnology certainly has its risks, CytRx appears to be making all the right moves. Most biotech analysts consider CytRx, Celldex, ImmunoCellular, and Northwest Biotherapeutics to be the leaders for developing an effective treatment for GBM. Given that the latter 3 companies have already seen their rally, it appears to be only a matter of time before CytRx also has its day in the sun."

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