NEW YORK, NY / ACCESSWIRE / June 9, 2017 / CytRx's shares saw a big gaining day yesterday after the company announced a big regulatory pathway update about aldoxorubicin, a tumor-targeted doxorubicin conjugate in development by the company. Hydrogenics also saw big gains and even hit a new high after the company signed a Purchase and License Agreement worth over $50 million for the company.

RDI Initiates Coverage on:

CytRx Corporation
https://ub.rdinvesting.com/news/?ticker=CYTR

Hydrogenics Corporation
https://ub.rdinvesting.com/news/?ticker=HYGS

CytRx Corporation's shares closed up 13.64% on Thursday with around 15.3 million shares traded which was 1.5x compared to usual. The big gains came after the company announced an update on the regulatory pathway for a New Drug Application submission for aldoxorubicin in soft tissue sarcomas (STS). CytRx will be submitting a rolling NDA under section 505(b)(2) to the FDA for aldoxorubicin as a treatment for STS. The company's Senior Vice President of Drug Development Scott Wieland commented, "Having worked on aldoxorubicin's regulatory strategy and as a participant in the March FDA meeting, the 505(b)(2) regulatory pathway is the most appropriate for aldoxorubicin in STS. As noted in the FDA meeting, the aldoxorubicin preclinical and clinical studies will support a 505(b) (2) NDA submission, and no new clinical trials were requested by the FDA at the meeting. Additionally, CytRx's previously approved special protocol assessment is no longer applicable."

Access RDI's CytRx Corporation Research Report at:
https://ub.rdinvesting.com/news/?ticker=CYTR

Hydrogenics Corporation's shares exploded on Thursday and hit a new high of $9.25 on tremendous volume compared to usual. The stock was one of the biggest gainers on the NASDAQ and closed up 23.45%. So why the big move? The leading developer and manufacturer of hydrogen generation and hydrogen-based power modules has signed a Purchase and License Agreement with Blue-G New Energy Science and Technology Corporation for fuel cells and technology. In the agreement, Hydrogenics will deliver 1,000 fuel cell units to Blue-G, for an aggregate sum payable to the company of more than $50 million. The fuel cell units will be integrated into zero-emission electric buses and an engineering support component. CEO Ronald R. Lee stated, "We are very pleased to be able to bring Hydrogenics' unique and leading technology to our transit customers in China. The ease of implementation of Hydrogenics' fuel cell systems has allowed Blue-G to rapidly advance in providing zero-emission powertrains to our customers. We look forward to a very successful and long-term collaboration."

Access RDI's Hydrogenics Corporation Research Report at:
https://ub.rdinvesting.com/news/?ticker=HYGS

Our Actionable Research on CytRx Corporation (NASDAQ: CYTR) and Hydrogenics Corporation (NASDAQ: HYGS) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com