LadRx Corporation Announces OTCQB Ticker Change to LADX

Rhea-AI Summary

LadRx Corporation (OTCQB: LADX) has announced a change in its OTCQB ticker symbol from CYTR to LADX, effective October 6, 2022. This decision aligns with the company's rebranding efforts, including its name change earlier this year. CEO Stephen Snowdy emphasized that the new symbol reflects the company's focus on its unique product platform, which includes the clinical drug Aldoxorubicin and four pre-clinical cancer therapeutics. Shareholders do not need to take any action, and the company's corporate structure will remain unchanged.

Positive

• Change in ticker symbol to LADX enhances brand visibility.
• New branding reflects focus on innovative cancer therapeutics.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)-- LadRx Corporation (OTCQB: LADX) (“LadRx” or the “Company”), a biopharmaceutical innovator focused on research and development of life-saving cancer therapeutics, today announced it is changing its OTCQB ticker symbol from CYTR to LADX effective Thursday, October 6, 2022.

Chief Executive Officer Stephen Snowdy, PhD commented, “Following up on other changes we have made this year, including the change of our name to LadRx Corporation, we are updating our ticker symbol to better reflect our Company’s focus and brand. Our new name and ticker highlight our unique product platform that has given rise to one clinical drug, Aldoxorubicin, and four pre-clinical therapeutics targeted against cancer, LADRs 7, 8, 9, and 10.”

There is no action required by the Company’s current shareholders and the change in its ticker symbol will have no effect on its corporate structure or business. LadRx’s common stock will continue to be listed on the OTCQB, and the CUSIP will remain unchanged.

Forward-Looking Statements

This press release may contain certain statements relating to future results which are forward-looking statements. These statements are not historical facts, but instead represent only LadRx’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside of LadRx’s control. Such statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements; and other risks and uncertainties described in the most recent annual and quarterly reports filed by LadRx with the SEC, including disclosures under the heading “Risk Factors”, and current reports filed since the date of the LadRx’s most recent annual report. All forward-looking statements are based upon information available to LadRx on the date the statements are first published. LadRx undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

About LadRx

LadRx Corporation (OTCQB: LADX) is a biopharmaceutical company with expertise in discovering and developing new therapeutics principally to treat patients with cancer. LadRx’s most recent advanced drug conjugate, aldoxorubicin, is an improved version of the widely used anti-cancer drug doxorubicin and has been out-licensed to ImmunityBio, Inc. In addition, LadRx’s drug candidate, arimoclomol, was sold to Orphazyme A/S in exchange for milestone payments and royalties. Orphazyme is developing arimoclomol in two indications, including Niemann-Pick disease Type C (NPC), and Gaucher disease. LadRx Corporation’s website is www.ladrxcorp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221005005794/en/

Longacre Square Partners

Greg Marose / Charlotte Kiaie

ladrx@longacresquare.com

Source: LadRx Corporation

FAQ

What is the new ticker symbol for LadRx Corporation?

The new ticker symbol for LadRx Corporation is LADX, effective October 6, 2022.

Why did LadRx Corporation change its ticker symbol?

LadRx Corporation changed its ticker symbol to better reflect its focus and brand in cancer therapeutics.

What is the impact of the ticker change on LadRx shareholders?

The ticker change will have no effect on LadRx's corporate structure or business, and no action is required from current shareholders.