CytRx Corp. shares have picked up 25 percent in the past twotrading sessions after Kemper Securities analyst Jean AnneMire initiated coverage with a "strong buy." The stock(NASDAQ:CYTR) closed Thursday at $6.19, up 75 cents.
Mire wrote that at least two products being developed by theNorcross, Ga., company have "blockbuster" potential: RheothRxand ProTox. RheothRx, a copolymer that improves blood flow, isscheduled to enter Phase II trials within three months formyocardial infarction, sickle cell crisis, stroke and cerebralmalaria. CytRx will receive royalties in excess of 15 percent onsales of RheothRx by its worldwide marketing partner,Burroughs Wellcome.
ProTox is in early development to treat toxoplasmosis in AIDSpatients.
Liposome Technology Inc. (NASDAQ:LTIZ) shares rose $2.13 to$18.88 on Thursday after Kidder, Peabody analyst RobertKupor reiterated a "buy" recommendation. In November, Kuporrated the Menlo Park, Calif., company as the best buy in thebiotech group. LTI's Stealth liposomal doxorubicin couldbecome the world's biggest cancer drug, he wrote.
Stock of Genzyme Corp. (NASDAQ:GENZ) of Cambridge, Mass.,rose 50 cents to $49 after PaineWebber added the company toits Focus List.
Shares of Cetus Corp. (NASDAQ:CTUS) rose 50 cents, closing at$19 on the company's final day of trading. The Emeryville,Calif., company's merger with Chiron Corp. was completedThursday. Chiron (NASDAQ:CHIR) gained $1.88 to $63.88.
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