CytRx announces it plans to price public offering of its common stock

Deal finances clinical trials of aldoxorubicin and corporate purposes

By Devika Patel

Knoxville, Tenn., Jan. 30 - CytRx Corp. will conduct a public offering of common stock with a 30-day greenshoe option, according to a preliminary prospectus supplement filed Thursday with the Securities and Exchange Commission.

Jefferies is the bookrunner.

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.

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