Cytrx cancer drug shows promise in mid-stage study

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[January 06, 2015] (Reuters) - Cytrx Corp said interim data showed its experimental cancer drug was effective in a mid-stage trial on patients with a deadly form of brain cancer, sending its shares up 33 percent before the bell.

The drug, aldoxorubicin, was tested in patients with glioblastoma multiforme (GBM) whose tumors had progressed post surgery as well as radiation and was successful in preventing further progression and shrank tumors in several patients.

GBM is the most deadly form of brain cancer and affects more than 12,000 people in the United States annually, the company said.

Aldoxorubicin is an improved version of the chemotherapy agent, doxorubicin, without causing side effects such as gastrointestinal disorders and heart muscle damage at higher doses.

The U.S. Food and Drug Administration had in November placed a hold on enrolling new patients in trials, after one patient died. Cytrx did not disclose the cause of death at the time.

The drug is also being tested to treat patients with soft tissue sarcoma, small cell lung cancer and pancreatic cancer.

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More detailed data on the trial on patients with brain cancer is expected in the first half of 2015.

Cytrx shares were at $3.78 in premarket trading on Tuesday. They closed at $2.85 on the Nasdaq on Monday.

(Reporting by Rosmi Shaji in Bengaluru; Editing by Savio D'Souza)

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