Winners & Losers
CytRx Rises On Preclinical Data For Stroke Drug
NEW YORK (AP) — Shares of CytRx Corp. jumped Monday after the company reported positive results from animal tests of its stroke recovery drug candidate arimoclomol.
The preclinical study tested the effects of arimoclomol on rats who after the animals were induced to have a stroke. CytRx said the rats treated with arimoclomol showed more neurons growing back and decreased cell death. In afternoon trading, shares of the Los Angeles company gained 8 cents, or 9.2 percent, to 99 cents. Trading was about twice as heavy as on an average day. In a note to clients, Rodman & Renshaw analyst Simos Simeonidis said the data were promising, but said investors should not overreact, because the drug has not yet been tested on humans and a lot of research still remains to be done.TheStreet Premium Services
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