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CytRx Issues Statement Regarding Orphazyme’s Global Offering

CytRx Corporation (OTCQB:CYTR) (“CytRx” or the “Company”), a specialized biopharmaceutical company focused on research and development for the oncology and neurodegenerative disease categories, today congratulated Orphazyme A/S (ORPHA.CO) (NASDAQ:ORPH) (“Orphazyme”) on the September 29, 2020 pricing of its global offering, consisting of an initial public offering of American Depositary Shares in the U.S. and a concurrent private placement of ordinary shares in Europe. According to Orphazyme, the aggregate gross proceeds from its global offering will amount to approximately DKK 534,534,637 ($83,777,606 using a DKK/USD exchange rate of 6.3804) (assuming no exercise of the option to purchase additional shares) and DKK 614,714,770 ($96,344,237 using a DKK/USD exchange rate of 6.3804) (assuming full exercise of the option to purchase additional shares). CytRx has an agreement with Orphazyme that can yield milestone payments and royalties based on potential future sales of arimoclomol.

In connection with Orphazyme’s global offering, it disclosed receipt of a filing communication from the U.S. Food and Drug Administration (“FDA”) relating to the agency’s ordinary course review of its new drug application (“NDA”) for arimoclomol in the treatment of Niemann-Pick disease Type C (“NPC”). The filing communication follows acceptance on a Priority Review basis by the FDA of Orphazyme’s NDA for arimoclomol in NPC and the agency’s establishment of the Prescription Drug User Fee Act (“PDUFA”) target action date of March 17, 2021. Orphazyme stated that its receipt of the filing communication does not impact the FDA’s acceptance of its NDA, the target PDUFA action date or the Priority Review determination. Orphazyme’s disclosure notes that the filing communication constitutes preliminary notice from the FDA of potential review issues as part of its ordinary course review of the NDA and is not necessarily indicative of deficiencies that may be identified during the review. Orphazyme has stated that it intends to discuss the filing communication with the FDA.

In accordance with applicable securities laws, Orphazyme amended the registration statement on Form F-1 on file with the U.S. Securities and Exchange Commission. For further information concerning the FDA filing communication, we refer you to the “Recent Developments” section on Page 6 of Orphazyme’s amended Form F-1 filed on September 28, 2020.

CytRx will continue to provide updates that are relevant to its agreement with Orphazyme.

About CytRx Corporation

CytRx Corporation (OTCQB:CYTR) is a biopharmaceutical company with expertise in discovering and developing new therapeutics principally to treat patients with cancer and neurodegenerative diseases. CytRx’s drug candidate, arimoclomol, was sold to Orphazyme A/S (Nasdaq Copenhagen exchange: ORPHA.CO) in exchange for milestone payments and royalties. Orphazyme is developing arimoclomol in four indications including amyotrophic lateral sclerosis (“ALS”), Niemann-Pick disease Type C (“NPC”), Gaucher disease and sporadic Inclusion Body Myositis (“sIBM”). Learn more at www.cytrx.com.

About Orphazyme

Orphazyme is a biopharmaceutical company focused on bringing novel treatments to patients living with life threatening or debilitating rare diseases. Their research focuses on developing therapies for diseases caused by misfolding of proteins including lysosomal storage diseases. Arimoclomol, the company’s lead candidate, is in clinical development for four

Overnight Health Care: NYC reports uptick in COVID-19 cases as schools try to reopen | Global coronavirus death toll passes 1 million

Welcome to Tuesday’s Overnight Health Care, where we are awaiting the health care questions at the first presidential debate tonight.



Andrew Cuomo, Bill de Blasio standing next to a man in a suit and tie: Overnight Health Care: NYC reports uptick in COVID-19 cases as schools try to reopen | Global coronavirus death toll passes 1 million | Pelosi cites 'positive' talk with White House on coronavirus aid


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Overnight Health Care: NYC reports uptick in COVID-19 cases as schools try to reopen | Global coronavirus death toll passes 1 million | Pelosi cites ‘positive’ talk with White House on coronavirus aid

Moderator Chris Wallace will ask about COVID-19 and the Supreme Court, so we expect questions about President Trump’s response to the pandemic and the looming oral arguments for a Trump-backed lawsuit that seeks to overturn the Affordable Care Act. Also, New York City is reporting an uptick in cases, and the global COVID-19 death toll has passed 1 million.

Let’s start with NYC…

New York City reports uptick in COVID-19 cases as schools try to reopen

New York City reported that its daily positivity rate of coronavirus tests surpassed 3 percent on Tuesday for the first time since June, with the bulk of the increase coming from certain Queens and southern Brooklyn neighborhoods.

Mayor Bill de Blasio (D) called the 3.25 percent positivity rate “cause for real concern” in a Tuesday press briefing. The nine at-risk ZIP codes are predominantly Orthodox communities. De Blasio said the statewide rate is about 1 percent.

The city, an early U.S. epicenter for the pandemic, saw its numbers steadily fall over the summer but has seen an increase in recent weeks.

The uptick is disrupting the city’s attempts to reopen schools, which de Blasio has already delayed. The mayor said that if the city’s seven-day rolling average reaches 3 percent, public schools will have to close again.

Read more here.

Global coronavirus death toll passes 1 million, with no end in sight

More than a million people worldwide have died after contracting the novel coronavirus less than a year after it first spilled over to humankind, a devastating toll that includes deaths in both the wealthiest and some of the poorest countries.

At least 33 million people have tested positive for the virus, SARS-CoV-2, and the true number of infected is likely multiple times higher. Surveys in the United States and other nations have suggested that only about 1 in 10 people who contract the virus ever test positive.

According to a Johns Hopkins University count, the global COVID-19 death toll stood at 1,000,555 by Monday evening.

And the true number of deaths is likely substantially higher as well. Excess mortality rates across the world show more people have died this year than is typical – signs either that the virus is killing more people than currently known, or that people with other health issues are unable or unwilling to access the treatment they need.

Read more here.

Student gatherings, congregate living contribute to rapid coronavirus spread at universities: CDC

Student gatherings and congregate living settings likely contribute to the rapid spread of COVID-19 at universities, according to an analysis published Tuesday by the Centers for Disease Control and Prevention (CDC).

Universities that resume in-person

Global Precision Medicine Market 2020 with (COVID-19) Impact Analysis, Product Type, Application, Key Manufacturers, Regions and Forecast to 2025

The MarketWatch News Department was not involved in the creation of this content.

Sep 29, 2020 (CDN Newswire via Comtex) —
A wide-ranging analysis report titled Global Precision Medicine Market 2020 by Company, Regions, Type and Application, Forecast to 2025 provides a brief overview of the market covering the scope, size, disposition, and growth of the industry. The report presents an estimate of the current market scenario and data related to the competitive landscape of the industry. It delivers five-year industry forecasts, growth rates, and an analysis of the industry key players and their market shares. The report shows information regards to several regions that have successfully established its position in the global Precision Medicine market. The geographical and competitive dynamics of this global market will help you get a comprehensive picture of the market.

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The report investigates the development, trends, and new entrants in the sector, with elaborate profiles of the leading companies operating in the market, including: Johnson & Johnson, Novartis, Illumina, IBM, Thermo Fisher Scientific, GE Healthcare, Almac Group, Laboratory Corporation of America Holdings, Roche, Abbott Laboratories, Randox Laboratories, Intel Corporation, Healthcore, Qiagen, Biomrieux Sa, Cepheid

In market segmentation by types, the report covers: Diagnostics, Therapies

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Global Medicine Automated Dispensing Cabinet Market 2020 Industry Chain structure, Market Competition, SWOT Analysis Report by 2025

The MarketWatch News Department was not involved in the creation of this content.

Sep 29, 2020 (CDN Newswire via Comtex) —
The market study titled Global Medicine Automated Dispensing Cabinet Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 is a thorough study of the current trends leading to this vertical trend in various regions. The report describes the market by its major segments involving types, applications, and the major geographic regions. The report assesses the growth rate of the market until forecast 2025, key factors driving this market with sales, revenue, and price analysis of top manufacturers. It presents details related to market share, market size, applications, statistics, and sales. The report considers that offering an in-depth analysis of leading players is very important in order to present a market study. Therefore the report focuses on major competitors operating in this market. Next, the forecast for each product type and application segment has been provided for the 2020 to 2025 time-period has been given in the report. The market is broken down by regions, vital players, types, and applications/end-users.

Competitive Tracking:

The report offers important information related to new products launched in the global Medicine Automated Dispensing Cabinet industry, regional landscaping, various approvals, and many strategies adopted in the competitive market. Other elements such as investment feasibility investigation, investment yield analysis, potential research, rival businesses’ SWOT analyses, and market trends will also be beneficial for readers of this report. Leading players along with their market share are highlighted in the report.

NOTE: Our report highlights the major issues and hazards that companies might come across due to the unprecedented outbreak of COVID-19.

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For the competitor segment, the report includes global key players of Medicine Automated Dispensing Cabinet are included: BD, Cerner, TOSHO, Omnicell, Aesynt, Takazono, YUYAMA, Willach Group

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Based on segmentation, the market report is made up of an in-depth investigation of the leading regions, including: North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia), South America (Brazil, Argentina), MENA (Saudi Arabia, UAE, Turkey and South Africa)

Some Important Deliverables of The Report:

The research comprises customer analysis, industry cost analysis, organization profiles, market analysis by application, production, revenue, and price trend analysis by type, production and consumption analysis by region, and various other market studies. Market performance is examined in terms of revenue contribution from various segments and includes a detailed analysis of key trends, drivers, restraints, and opportunities influencing revenue growth of the global Medicine Automated Dispensing Cabinet market.

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