CytRx dumps failed IIb trial for lung cancer, focuses on aldoxorubicin

CytRx has decided to dump a Phase IIb lung cancer study for the number-two drug program in the pipeline after the monitoring committee concluded that the trial was unlikely to find any improvement in progression-free survival compared to standard treatments. But the LA-based biotech ($CYTR) says that it has its hands full with a slate of studies for its lead drug, aldoxorubicin.

Steven A. Kriegsman, CytRx's president and CEO, called the trial failure a "disappointment." Despite the setback, the company's shares crept up a bit this morning as investors stayed focus on the lead drug.

"This is an eventful time as we expect to announce data from three clinical trials with aldoxorubicin this year and are making preparations to begin our first pivotal Phase III clinical trial with aldoxorubicin," said Kriegsman in a statement. "We see significant opportunities ahead with potential from multiple drug candidates addressing numerous oncology indications. Aldoxorubicin is its own pipeline with demonstrated efficacy in human tumor models of breast, ovarian, lung and pancreatic cancers and renal cell carcinoma (kidney cancer). Our linker platform can be combined with virtually any chemotherapeutic agent and is designed to improve concentration of drug at the site of tumors."

The biotech announced last month that it had reached a special protocol assessment pact with the FDA, paving the way to use positive results from the upcoming pivotal study in patients with relapsed or refractory cases of soft tissue sarcomas for a prospective NDA.

- here's the press release