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CytRx plunges after announcing Phase 3 trial results

CytRx shares tanked after the company said a late-stage trial showed one of its cancer treatments did not perform better than other drugs.

The biopharmaceutical research and development company performed clinical trials to "evaluate the efficacy and safety of aldoxorubicin as a second-line treatment for patients with soft tissue sarcomas," the company said in a press release.

The results did not meet...