CYTR - CYTR STOCK NEWS

CytRx Corporation is rebranding as LadRx Corporation, effective September 26, 2022, while continuing to trade under the ticker CYTR until further notice. CEO Stephen Snowdy highlighted recent strategic changes including new board members and the merger with subsidiary Centurion. The company focuses on its LADR platform, which enhances cancer drug delivery, and is advancing Aldoxorubicin in Phase II trials for pancreatic cancer. LADR7, a promising drug candidate, has shown effectiveness in pre-clinical studies and is expected to proceed with final testing in the upcoming 12-18 months.

CytRx Corporation (OTCQB: CYTR) has been granted a significant patent by the European Patent Office for its LADR platform, which enhances drug delivery targeting diseased tissues. The patent period for opposition has expired without challenge. This patent, along with a recently granted US patent, aims to reduce off-target side effects and improve dosing for cancer therapeutics. The company also holds patents for specific drugs using the LADR backbone, including a lead pre-clinical candidate. CEO Dr. Stephen Snowdy expressed optimism as the company prepares for further development of LADR-based drugs.

CytRx Corporation (OTCQB: CYTR) has appointed Cary J. Claiborne to its Board of Directors during the Annual Meeting. Claiborne, who has extensive experience in public company governance and finance, serves as the Chief Operating Officer at Adial Pharmaceuticals and holds director roles in other biopharmaceutical companies. He will also chair CytRx's Compensation Committee and serve on the Audit Committee. CEO Stephen Snowdy emphasized Claiborne's valuable expertise in advancing the company's cancer therapeutic pipeline, including the LADR platform.

CytRx Corporation (OTCQB: CYTR) has announced a dividend of one one-thousandth of a share of its newly designated Series D Preferred Stock for each outstanding share of common stock as of May 20, 2022. The Series D Preferred Stock, which carries substantial voting power concerning a proposed reverse stock split, will be non-transferable except alongside common stock transfers. Unused shares will be automatically redeemed if not present at the stockholder meeting. Additional details will be provided in a forthcoming 8-K report to the SEC.

CytRx Corporation (OTCQB: CYTR) is optimistic about the potential of arimoclomol, a drug for Niemann-Pick disease type C, following its acquisition by KemPharm from Orphazyme for $12.8 million. KemPharm plans to resubmit the NDA to the FDA as early as Q1 2023, leveraging its expertise from previous FDA approvals. CytRx expects to maintain its licensing terms with Orphazyme, which includes milestone and royalty payments. With a critical need for treatments in NPC, CytRx is focused on supporting KemPharm's regulatory efforts.

CytRx Corporation has announced a partnership with Dr. Gilad Gordon to advance its next-generation LADR drugs toward first-in-human clinical trials. Dr. Gordon brings over 30 years of oncology experience, having overseen numerous clinical trials and IND applications. CytRx aims to expedite the IND filing process despite current market challenges, emphasizing its commitment to developing cancer therapies. The LADR approach targets tumors effectively and aims to reduce toxicity while increasing drug efficacy. CytRx references encouraging preclinical data regarding these drugs.

CytRx Corporation (OTCQB: CYTR) expresses gratitude to stockholders for their support during a recent special meeting. The company announced pivotal changes as it integrates Centurion BioPharma into its operations, enhancing its Linker Activated Drug Release (LADR) platform for cancer therapeutics. With 73% of stockholders approving the increase of authorized common shares, CytRx anticipates saving $1 million in cash costs. The new leadership team aims to promote innovation and maintain open communication with stockholders for future growth.

CytRx Corporation (OTCQB: CYTR) announced its merger with Centurion BioPharma Corporation, enhancing its structure and integrating Centurion's LADR platform for localized cancer drug delivery. This merger aims to streamline operations and expedite the development of next-generation LADR drugs, potentially increasing shareholder value. Additionally, the company will see leadership changes with Louis Ignarro retiring as Chairman and Steven Kriegsman stepping down immediately. The first-generation LADR drug, Aldoxorubicin, has positive Phase II results in pancreatic cancer, highlighting its potential.

CytRx Corporation (OTCQB: CYTR) addressed the recent negative trend vote by the European Medicines Agency (EMA) on Orphazyme A/S's arimoclomol for Niemann-Pick disease type C (NPC). Despite disappointment over this decision regarding a non-core asset, CytRx emphasized that its core assets remain unaffected. The company highlighted positive developments in the clinical trials of aldoxorubicin, its advanced drug conjugate, currently studied by ImmunityBio in late-stage trials for pancreatic cancer and other indications, with potential milestone revenues up to $343 million.