An aqueous formulation of a therapeutic agent is provided which is astable solution for direct local delivery and/or regional delivery intoarterialtissue. The composition comprises:paclitaxel in a concentration of 1.25 mg/ml;vitamin E TPGS in a concentration of 3.75 percentethanol in a concentration of 0.5 percentPEG 400 in a concentration of 25 percent, andwater in a concentration of 70 percent.