There are more than 100 different cancer diseases. Cancer is the leading cause of death in the United States, and according to National Cancer Institute (NYSE:NCI) estimates, half of all U.S. males and one-third of all U.S. females will develop cancer in their lifetime. While soft tissue sarcoma is a very rare form of cancer, the NCI reports that in 2011 nearly 11,000 new cases of soft tissue sarcomas were diagnosed in the U.S. and that approximately 3,900 deaths were caused by these cancers.
CytRx is a biopharmaceutical R&D company focused on the development of its cancer-centered clinical pipeline, which includes aldoxorubicin, the company's improved version of the widely used chemotherapeutic agent doxorubicin. In a recent phase 2b study head-to-head between the drugs, aldoxorubicin met primary endpoints and demonstrated its superiority over doxorubicin. Furthermore, aldoxorubicin was found to be safe and well-tolerated with no treatment-related deaths.
The results were huge. The outcome of the trial triggered a triple-digit rally in CytRx stock as the investment community picked-up on the statistically significant results and aldoxorubicin's potential to open the door for additional therapeutic applications.
Aldoxorubicin will soon undergo a phase 3 pivotal trial under a special protocol assessment (NYSE:SPA) as a therapy for patients with soft tissue sarcomas whose tumors have progressed following treatment with chemotherapy.
The U.S. Food and Drug Administration granted the drug candidate orphan drug designation for the treatment of patients with soft tissue sarcomas and pancreatic cancer. This designation is granted to therapeutics being developed for the treatment of rare diseases that affect fewer than 200,000 people in the United States. With this position, CytRx has a seven-year marketing exclusivity period, clinical protocol assistance with the FDA, and access to federal grants and tax credits.
With high expectations for 2014, CytRx appears to be well-positioned to revolutionize the unmet medical needs in cancer, starting with soft tissue sarcoma.
For more information visit cytrx.com
MissionIR provides investor relations services to publicly traded companies in exchange for compensation. This article may be part of our efforts to widen a client's exposure. To read our full disclaimer, visit http://disclaimer.missionir.com