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Fly News Breaks for July 12, 2016
CYTR
Jul 12, 2016 | 09:15 EDT
FBR Capital analyst Christopher James cut his price target for CytRx to $3 after the company's Phase III study with aldoxorubicin in patients with relapsed or refractory soft-tissue sarcoma was unable to meet its primary endpoint. Despite missing on the endpoint, aldoxorubicin demonstrated clear clinical activity, with an objective response rate nearly double the rate observed within the comparator arm, James tells investors in a research note. He keeps an Outperform rating on CytRx. In pre-market trading, the stock is down 69% to 77c.
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