antiquity
02-26-2002, 01:00 AM
Merck Buys CytRx Gene Technology -- The two companies are investigating a potential DNA-based HIV vaccine that incorporates CytRx's 'TranzFect' technology. The goal is a vaccine that blocks the development of the AIDS virus, or kills it.
Vancouver, Feb 25, 2002 (smallcapcenter.com via COMTEX) -- Micro-cap CytRx Corporation (NASDAQ: CYTR) has received a psychological and financial lift courtesy mega-cap Merck & Co. (NYSE: MRK) and specifically via Merck's most welcome $1-million milestone payment for use of CytRx's proprietary gene-transfer technology.
On the Street however, the welcome was a bit muted.
At 1:53 p.m. ET and after spiking to a high of 77 cents at the open, CYTR was down 4.55% or 3 cents to $0.63 on good volume of 121,700 shares as against the three-month daily average of 58,683 shares. Its 52-week range is $1.35 set on June 14, 2001 and $0.45 posted on December 17, 2001. Its most-recent-quarter (mrq) per-share book value is $0.36.
Merck scientists are investigating a potential DNA-based HIV vaccine that incorporates CytRx's 'TranzFect' technology which, just in case you're wondering, uses non-ionic block copolymers or 'poloxamers' to help move complex genetic material into target cells. The goal: develop a HIV vaccine that can block development of AIDS and also help boost the viral kill-rate in AIDS patients already being treated with anti-retroviral therapies. In other words: prevent the virus from getting past the gate or, if it's already inside, help the immune system identify and kill the killers.
To safely deliver the fragile genetic goods through the body and across the cellular barriers, the brains behind the TranzFect technology first took a look at a type of biologic chemicals called cationic lipids. These lipids have the ability to cling onto and temporarily 'open up' a cell wall and thus allow complex materials (e.g. DNA) to slip past. Unfortunately, cationic lipids happen to be toxic and the body happens to know it. When introduced into the body, the lipids are quickly broken down and shunted out.
However, although the musically named poloxamer family of non-ionic block copolymers act like cationic lipids in term of their ability to hoick DNA into a cell and thus create a killer vaccine, the poloxamers are a lot less toxic. They're also much more resistant to the rending forces of metabolization in vitro. Even better, once they deliver the DNA, they also hang around to help reinforce the immune system. And, to add to it all, poloxamers are already being safely used in other medical applications.
CytRx has an exclusive, worldwide license agreement with Merck & Co., Inc., whereby CytRx grants Merck the right to use its TranzFect technology in DNA-based vaccines targeted to HIV and three other infectious diseases. Meanwhile, as part of its TranzFect program, CytRx has developed a library of compounds, many of which have been shown to enhance the activity of conventional vaccines; the 'Optivax' program is now being trotted past a number of vaccine companies for evaluation and possible license.
CytRx has other arrows in its development-stage quiver. The flagship candidate is the novel, intra-vascular agent CRL-5861 (purified polomamer 188) used to improve micro-vascular blood flow and thus could be useful in treating acute ischemic vascular disorders such as stroke, heart attack, and vaso-occlusive crisis of sickle-cell disease.
CytRx has chosen to address the deadly problem of sickle-cell anemia via the CRL-5861 'Flocor' program. The idea is to 'lubricate' the deformed red blood cells to allow them to slip through the capillaries and thus keep the tissues oxygenated. The company believes Flocor can help ease patients through the dangerous bouts of anemia and also stave off chronic organ damage. So does the FDA; it has granted Flocor 'orphan drug status'.
More about CRL-5861 but it could also prove useful in helping chemotherapies slip deeper into tumors and also helping to treat muscular dystrophy.It's also being tested for its ability to interact with damaged nerve membranes in such a way as to "seal" the damage and restore membrane integrity. If successful, this treatment could limit the progression of secondary, post-injury damage, thereby maintaining or restoring spinal cord function.
Based in Norcross, Georgia, CytRx Corporation is a biopharmaceutical company focused on the development and commercialization of high-value human therapeutics. Its current research and development activities include CRL-5861, an intravenous agent for treatment of sickle cell disease and other acute vaso- occlusive disorders, and TranzFect, a delivery technology for DNA-based vaccines. CytRx has licensed TranzFect to Merck & Co., Inc. for use in Merck's efforts to development DNA-based vaccines for HIV and three other infectious diseases. All other uses of TranzFect for enhancement of viral or non-viral delivery of polynucleotides (such as DNA and RNA) were recently licensed to Vical Incorporated. CytRx has a research pipeline in the areas of muscular dystrophy, cancer, spinal cord injury, vaccine delivery, gene therapy and food-animal feed additives.
For the nine months ended September 30, 2001, CytRx revenues fell 52% to $501,000. Net loss from continuing operations rose 46% to $3.4 million. Results reflect lower grant income and the overall slowing of the economy, partially offset by a reduction in research and development expenditures.
There is no First Call covering analyst for CytRx Corporation. However, Smallcapcenter.com's advanced research department gave CYTR a signal stockscore of 79 at 2:09 p.m. EDT on Thursday.
A company's stockscore is an unbiased summary of numerous technical analysis indicators like volume and momentum, which are combined to produce a value on a scale of 1-100 with 100 being the highest level.
By David Leidl
Copyright 2001 Stockgroup.com, All rights reserved.
[This message was edited by seneca on Feb 26, 2002 at 04:17 AM.]
Vancouver, Feb 25, 2002 (smallcapcenter.com via COMTEX) -- Micro-cap CytRx Corporation (NASDAQ: CYTR) has received a psychological and financial lift courtesy mega-cap Merck & Co. (NYSE: MRK) and specifically via Merck's most welcome $1-million milestone payment for use of CytRx's proprietary gene-transfer technology.
On the Street however, the welcome was a bit muted.
At 1:53 p.m. ET and after spiking to a high of 77 cents at the open, CYTR was down 4.55% or 3 cents to $0.63 on good volume of 121,700 shares as against the three-month daily average of 58,683 shares. Its 52-week range is $1.35 set on June 14, 2001 and $0.45 posted on December 17, 2001. Its most-recent-quarter (mrq) per-share book value is $0.36.
Merck scientists are investigating a potential DNA-based HIV vaccine that incorporates CytRx's 'TranzFect' technology which, just in case you're wondering, uses non-ionic block copolymers or 'poloxamers' to help move complex genetic material into target cells. The goal: develop a HIV vaccine that can block development of AIDS and also help boost the viral kill-rate in AIDS patients already being treated with anti-retroviral therapies. In other words: prevent the virus from getting past the gate or, if it's already inside, help the immune system identify and kill the killers.
To safely deliver the fragile genetic goods through the body and across the cellular barriers, the brains behind the TranzFect technology first took a look at a type of biologic chemicals called cationic lipids. These lipids have the ability to cling onto and temporarily 'open up' a cell wall and thus allow complex materials (e.g. DNA) to slip past. Unfortunately, cationic lipids happen to be toxic and the body happens to know it. When introduced into the body, the lipids are quickly broken down and shunted out.
However, although the musically named poloxamer family of non-ionic block copolymers act like cationic lipids in term of their ability to hoick DNA into a cell and thus create a killer vaccine, the poloxamers are a lot less toxic. They're also much more resistant to the rending forces of metabolization in vitro. Even better, once they deliver the DNA, they also hang around to help reinforce the immune system. And, to add to it all, poloxamers are already being safely used in other medical applications.
CytRx has an exclusive, worldwide license agreement with Merck & Co., Inc., whereby CytRx grants Merck the right to use its TranzFect technology in DNA-based vaccines targeted to HIV and three other infectious diseases. Meanwhile, as part of its TranzFect program, CytRx has developed a library of compounds, many of which have been shown to enhance the activity of conventional vaccines; the 'Optivax' program is now being trotted past a number of vaccine companies for evaluation and possible license.
CytRx has other arrows in its development-stage quiver. The flagship candidate is the novel, intra-vascular agent CRL-5861 (purified polomamer 188) used to improve micro-vascular blood flow and thus could be useful in treating acute ischemic vascular disorders such as stroke, heart attack, and vaso-occlusive crisis of sickle-cell disease.
CytRx has chosen to address the deadly problem of sickle-cell anemia via the CRL-5861 'Flocor' program. The idea is to 'lubricate' the deformed red blood cells to allow them to slip through the capillaries and thus keep the tissues oxygenated. The company believes Flocor can help ease patients through the dangerous bouts of anemia and also stave off chronic organ damage. So does the FDA; it has granted Flocor 'orphan drug status'.
More about CRL-5861 but it could also prove useful in helping chemotherapies slip deeper into tumors and also helping to treat muscular dystrophy.It's also being tested for its ability to interact with damaged nerve membranes in such a way as to "seal" the damage and restore membrane integrity. If successful, this treatment could limit the progression of secondary, post-injury damage, thereby maintaining or restoring spinal cord function.
Based in Norcross, Georgia, CytRx Corporation is a biopharmaceutical company focused on the development and commercialization of high-value human therapeutics. Its current research and development activities include CRL-5861, an intravenous agent for treatment of sickle cell disease and other acute vaso- occlusive disorders, and TranzFect, a delivery technology for DNA-based vaccines. CytRx has licensed TranzFect to Merck & Co., Inc. for use in Merck's efforts to development DNA-based vaccines for HIV and three other infectious diseases. All other uses of TranzFect for enhancement of viral or non-viral delivery of polynucleotides (such as DNA and RNA) were recently licensed to Vical Incorporated. CytRx has a research pipeline in the areas of muscular dystrophy, cancer, spinal cord injury, vaccine delivery, gene therapy and food-animal feed additives.
For the nine months ended September 30, 2001, CytRx revenues fell 52% to $501,000. Net loss from continuing operations rose 46% to $3.4 million. Results reflect lower grant income and the overall slowing of the economy, partially offset by a reduction in research and development expenditures.
There is no First Call covering analyst for CytRx Corporation. However, Smallcapcenter.com's advanced research department gave CYTR a signal stockscore of 79 at 2:09 p.m. EDT on Thursday.
A company's stockscore is an unbiased summary of numerous technical analysis indicators like volume and momentum, which are combined to produce a value on a scale of 1-100 with 100 being the highest level.
By David Leidl
Copyright 2001 Stockgroup.com, All rights reserved.
[This message was edited by seneca on Feb 26, 2002 at 04:17 AM.]