CytRx announces plans to price public offering of common stock

Proceeds fund clinical development of drug candidates; Aegis assists

By Devika Patel

Knoxville, Tenn., Oct. 17 - CytRx Corp. said it will conduct a public offering of stock with Aegis Capital Corp. as the bookrunning manager.

Proceeds will be used for clinical development of drug candidates aldoxorubicin and tamibarotene and for general corporate purposes, which may include working capital, capital expenditures, research and development and other commercial expenditures.

Based in Los Angeles, CytRx develops human therapeutics.

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