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Technical Breakout Alert Issued for CytRx (NASDAQ:CYTR)


Miv Investments Inc. has initiated an independent bullish technical trading alert for 11/23/09 on CytRx Corporation (NASDAQ:CYTR). Shares of the company finished trading during 11/20/09 at $1.35 per share, up 20.18% from the opening bell on heavy buying pressure. As of 11/18/09, the biopharmaceutical company announced plans to initiate an open-label, multinational Phase 2 clinical trial with its doxorubicin prodrug INNO-206 as a second-line treatment in patients with advanced gastric (stomach) cancer.

CytRx President and CEO Steven A. Kriegsman said, “This planned clinical trial is a key step forward in our plans to build a commercial oncology franchise for CytRx. We have studied the oncology market in solid tumors and believe that stomach cancer represents a major market and an unmet medical problem worldwide. We have also been encouraged by exciting animal data for INNO-206 in a broad array of cancer indications, and are hopeful that this carefully-designed study will bring hope to the sufferers of advanced gastric cancer.”

Rumours are also swirling that the popular biopharma news-portal has contacted the company, and news is pending on what could be a turning point for shareholders. An announcement could come as early as this week, many investors have long been awaiting news on the Tamibarotene, Acute Promyelocytic Leukemia pivotal phase II trial.

About CytRx Corporation

CytRx Corporation is a biopharmaceutical research and development company engaged in the development of high-value human therapeutics. The CytRx drug development pipeline includes programs in clinical development for cancer indications, including tamibarotene in a clinical trial for the treatment of acute promyelocytic leukemia (APL). In addition, CytRx is developing two drug candidates based on its industry-leading molecular chaperone technology, which aims to repair or degrade misfolded proteins associated with disease. CytRx also maintains a 36% equity interest in publicly traded RXi Pharmaceuticals, Inc. (NASDAQ:RXII). For more information on the Company, visit

The full special report on the company appears today at

Disclosure: Long CYTR

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About MiV Investments Inc.

MiV Investments Inc. can be found at It is a company offering a news portal covering the world financial news and equities sector. It features its own blog, free level 2 quotes, two way linking capability, mass e-mail distribution alerts, stock research reports, conference calls, news feeds, mailing list, videos, press release capability, stock commentaries, company reviews and other unique content including expert stock analysis from Michael Vlaicu. The company also offers Investor Relations contracting services.

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