CYTR - CYTR STOCK NEWS

CytRx Corporation (OTCQB: CYTR) has announced that CEO Steven A. Kriegsman will present at the H.C. Wainwright 23rd Annual Global Investment Conference, held virtually from September 13-15, 2021. The presentation will highlight CytRx's promising pipeline, including licensing agreements with ImmunityBio and Orphazyme. Key topics include the Centurion BioPharma subsidiary and the innovative LADR™ Platform, designed to enhance drug delivery while reducing toxicity. The presentation will be accessible on-demand starting September 13.

CytRx Corporation highlights the positive results from the Phase 2/3 trial of arimoclomol, an investigational treatment for Niemann-Pick disease type C. The study showed a significant treatment effect with a 65% relative reduction in disease progression over 12 months. Notably, in patients aged 4 and above, arimoclomol demonstrated an 82% reduction. The treatment was well-tolerated, with fewer serious adverse events compared to placebo. Orphazyme is awaiting a regulatory decision in Europe by Q4 2021 and is assessing the path forward in the U.S.

CytRx Corporation (OTCQB:CYTR) reported its Q2 2021 financial results, highlighting significant developments in its capital position and corporate governance. The company raised $10 million in gross proceeds, enhancing its working capital for licensing agreements and drug assets. Cash on hand reached approximately $8.4 million, with a net loss of $1.2 million compared to $1.3 million in Q2 2020. Key developments included updates from partners ImmunityBio and Orphazyme, with Orphazyme facing regulatory hurdles for its drug arimoclomol, while CytRx continues to explore partnerships to advance its clinical assets.

CytRx Corporation (OTCQB: CYTR) announced the election of Joel K. Caldwell, CPA, and Jennifer K. Simpson, Ph.D., to its Board of Directors during the 2021 Annual Meeting of Stockholders. This decision reflects the company’s commitment to enhancing corporate governance with diverse expertise. CEO Steven A. Kriegsman expressed gratitude to stockholders for their participation, while Dr. Simpson highlighted her aim to leverage her extensive experience in biopharmaceuticals to add value. CytRx focuses on developing therapeutics for cancer and neurodegenerative diseases, with key assets out-licensed to other biopharmaceutical companies.

CytRx Corporation (OTCQB: CYTR) has announced that ImmunityBio, Inc. has been granted a U.S. patent for its NANT Cancer Vaccine, aimed at enhancing immune response against cancer. CytRx out-licensed Aldoxorubicin to ImmunityBio in 2017, which could lead to $343 million in milestone payments and royalties. ImmunityBio has initiated Quantitative Lifelong Trials (QUILT) for safety and efficacy across various cancers, including pancreatic cancer. Initial survival data from QUILT 88 is expected in early 2022.

CytRx Corporation (OTCQB: CYTR) has completed a securities sale to a healthcare-focused institutional investor, raising approximately $10 million. The Company sold 2 million common shares at $0.88 each, alongside 8,240 shares of Series C 10.00% Convertible Preferred Stock for $1,000 per share. The Preferred Stock can convert into 9,363,637 common shares with shareholder approval. Included in the offering is an investment option allowing the purchase of 11,363,637 additional shares, potentially adding another $10 million. Proceeds will be used for working capital.

CytRx Corporation (OTCQB: CYTR) announced a securities purchase agreement, raising about $10 million. The company will sell 2,000,000 shares of common stock at $0.88 each, generating approximately $1.76 million, and 8,240 shares of Series C Convertible Preferred Stock for $8.24 million. The preferred stock is convertible into 9,363,637 shares of common stock. Furthermore, an unregistered investment option allows purchasing up to 11,363,637 shares for additional $10 million if exercised. Proceeds will be used for working capital purposes.

CytRx Corporation (OTCQB: CYTR) has commented on Orphazyme A/S's announcement of 24-month interim results for arimoclomol in treating Niemann-Pick disease type C (NPC). The open-label extension trial data indicated a sustained reduction in NPC progression, with a significant p-value of 0.046. Orphazyme reported a consistent safety profile throughout the 36-month treatment, with 33 of 41 patients completing the trial. CytRx expressed optimism regarding Orphazyme's path to regulatory approval and emphasized the significance of arimoclomol's potential impact on the NPC community.

CytRx Corporation (OTCQB: CYTR) announced that Orphazyme A/S (NASDAQ: ORPH) received a Complete Response Letter (CRL) from the FDA regarding arimoclomol's New Drug Application for Niemann-Pick disease type C. The FDA's CRL requires more evidence for the 5-domain NPC Clinical Severity Scale and additional data to support the benefit-risk assessment. Orphazyme’s cash position is projected to drop from $56 million to $8 million by year-end 2021, necessitating substantial cost reductions. They aim for European regulatory approval by early 2022 and will provide further updates soon.