CytRx sinks on Phase III sarcoma failure

CytRx Corp. (NASDAQ:CYTR) plummeted $1.70 (68%) to $0.81 in early after-hours trading after its aldoxorubicin (formerly DOXO-EMCH, INNO-206) failed to significantly improve the primary endpoint of progression-free survival (PFS) in the initial analysis of a Phase III trial to treat relapsed or refractory soft tissue sarcoma. The company said it will present an updated analysis of the study in 4Q16.

Median PFS was 4.17 months in aldoxorubicin-treated patients vs. 4.04 months in patients receiving physicians' choice of chemotherapy (HR=0.91). CytRx said the candidate significantly improved disease control rate (DCR) in the study's intent-to-treat population (p=0.048) and in patients refractory to doxorubicin (p=0.0415). ...