$CYTR,,,8/3 Earnings out -$.10...I haven't seen a
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Posted On: 08/03/2017 9:11:36 AM
$CYTR,,,8/3 Earnings out -$.10...I haven't seen a report,,,just this quarterly number.
Earlier news:
CytRx out-licenses aldoxorubicin to NantCell in deal worth up to $356M
Jul. 28, 2017 9:20 AM ET|About: CytRx Corporation (CYTR)|By: Douglas W. House, SA News Editor
Nano cap CytRx (NASDAQ:CYTR) is up 2% premarket on light volume on the heels of its announcement that it has inked a global license deal with NantWorks subsidiary NantCell to develop and commercialize aldoxorubicin for all indications.
Under the terms of the agreement, NantCell will purchase $13M of CytRx common stock at $1.10 per share (~11.82M shares) and will receive a warrant to purchase up the 3M shares of common at $1.10 over the next 18 months. CytRx is eligible to receive up to an additional $343M in milestones and double-digit royalties on net sales of aldoxorubicin in soft tissue sarcomas and mid-to-high single-digit royalties for all other indications. NantCell will be responsible for all future development, manufacturing and commercialization costs.
Aldoxorubicin is a conjugate of the chemo agent doxorubicin and an acid-sensitive linker that binds to circulating albumin. The company says this drives greater uptake in the tumor which enables higher dosing without the collateral damage to healthy tissue.
Earlier news:
CytRx out-licenses aldoxorubicin to NantCell in deal worth up to $356M
Jul. 28, 2017 9:20 AM ET|About: CytRx Corporation (CYTR)|By: Douglas W. House, SA News Editor
Nano cap CytRx (NASDAQ:CYTR) is up 2% premarket on light volume on the heels of its announcement that it has inked a global license deal with NantWorks subsidiary NantCell to develop and commercialize aldoxorubicin for all indications.
Under the terms of the agreement, NantCell will purchase $13M of CytRx common stock at $1.10 per share (~11.82M shares) and will receive a warrant to purchase up the 3M shares of common at $1.10 over the next 18 months. CytRx is eligible to receive up to an additional $343M in milestones and double-digit royalties on net sales of aldoxorubicin in soft tissue sarcomas and mid-to-high single-digit royalties for all other indications. NantCell will be responsible for all future development, manufacturing and commercialization costs.
Aldoxorubicin is a conjugate of the chemo agent doxorubicin and an acid-sensitive linker that binds to circulating albumin. The company says this drives greater uptake in the tumor which enables higher dosing without the collateral damage to healthy tissue.
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'Everything works out in the end,,,If it hasn't worked out,,it's not the end'
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