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CytRx Releases Proposed Public Offering of Common Stock

February 4, 2014

CytRx Corp. , a biopharmaceutical research and development company specializing in oncology, announced its intention, subject to market and other conditions, to commence an underwritten public offering of its common stock. According to a release, CytRx intends to use the net proceeds of the offering to fund clinical trials of its drug candidate aldoxorubicin and for general corporate purposes, which may include working capital, capital expenditures, research and development and other commercial expenditures. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Jefferies is the sole book-running manager for the offering. CytRx added it is offering the shares described above pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed with and has been declared effective by the Securities and Exchange Commission (SEC). The securities may be offered only by means of a prospectus. A preliminary prospectus supplement relating to the proposed offering will be filed with the SEC . ((Comments on this story may be sent to newsdesk@closeupmedia.com ))


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