CytRx Prices 10M Share Offering at $2.25/Share

LOS ANGELES--(BUSINESS WIRE)-- CytRx Corporation CYTR today announced the pricing of its previously announced underwritten public offering. CytRx is offering 10.0 million shares of common stock at a public offering price of $2.25 per share for gross proceeds of $22.5 million, prior to deducting the underwriting discount and estimated offering expenses payable by CytRx. CytRx intends to use the net proceeds of the offering to fund its clinical trials of its drug candidate aldoxorubicin and for general corporate purposes, which may include working capital, capital expenditures and research and development and other commercial expenditures. CytRx has granted the underwriters a 30-day option to See full press release