CytRx reports that it will price a public offering of its common stock

Deal finances clinical trials of aldoxorubicin and corporate purposes

By Devika Patel

Knoxville, Tenn., Oct. 8 - CytRx Corp. plans to conduct a public offering of common stock, according to a preliminary prospectus supplement filed Tuesday with the Securities and Exchange Commission. Aegis Capital Corp., the bookrunner, will have a 30-day greenshoe.

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

Based in Los Angeles, CytRx develops human therapeutics.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.