Update: Cardiac safety data support investment case
CytRx released cardiotoxicity data and interim positive efficacy results from the Phase II GBM and combination Phase Ib aldoxorubicin studies. Our focus remains on the ongoing Phase III second-line soft tissue sarcoma (STS) trial, with data expected in H216. While our fundamental view on the drug’s potential has not changed, the supplied cardiotoxicity data supports its intended mechanism of action. That is, by acting as a safer form of doxorubicin, aldoxorubicin may displace it in STS and potentially other oncology indications. We have amended our valuation slightly, resulting in an rNPV of $381m (from $375m previously).
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