MissionIR today released its interview with CytRx Corp. 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: 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.
For more information, visit cytrx.com
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