CytRx Receives Notification of Non-Compliance with NASDAQ Minimum Bid Requirement

CytRx Corporation

today announced that, as anticipated, on February 15, 2012, the Company was notified by The NASDAQ Stock Market that because the Company has not regained compliance with the $1.00 minimum bid price requirement under NASDAQ Listing Rule 5550(a)(2), the Company's common stock would be subject to delisting from The NASDAQ Capital Market unless the Company requests a hearing before a NASDAQ Hearings Panel. The notification has no effect on the listing of CytRx's common stock at this time, which will continue to trade on The NASDAQ Capital Market under the trading symbol "CYTR."