CytRx Corporation, CYTR
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Drug-maker CytRx Corp said its experimental treatment for breast cancer caused a "dramatic destruction" of implanted tumors in an animal model, sending its shares to a new 52-week high. The company said tumors in animals treated with INNO-206 shrank to about one-half their initial volume by the end of 43 days. "The market has reacted so much because this compound showed such great efficacy in the animal data and because of the potential for being a very large drug," Rodman & Renshaw analyst Simos Simeonidis said. Simeonidis expects INNO-206 to be a very large product as it is a pro-drug to doxorubicin, a common cancer treatment that has sales in hundreds of millions of dollars. A pro-drug is a compound which when taken in gets converted into the active ingredient of a drug.
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