CytRx (CYTR) Announces Common Offering
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CytRx Corporation (Nasdaq: CYTR) reports it intends to offer shares of its common stock and common stock purchase warrants in an underwritten public offering.
Cowen and Company, LLC and Roth Capital Partners, LLC are acting as the underwriters of the offering. All of the shares and warrants in the offering are to be sold by CytRx. The offering is subject to market conditions, and 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. CytRx intends to use the net proceeds of the offering to fund clinical development of its drug candidates INNO-206, bafetinib and tamibarotene, and for general corporate purposes, which may include working capital, capital expenditures, research and development expenditures and other commercial expenditures.
Cowen and Company, LLC and Roth Capital Partners, LLC are acting as the underwriters of the offering. All of the shares and warrants in the offering are to be sold by CytRx. The offering is subject to market conditions, and 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. CytRx intends to use the net proceeds of the offering to fund clinical development of its drug candidates INNO-206, bafetinib and tamibarotene, and for general corporate purposes, which may include working capital, capital expenditures, research and development expenditures and other commercial expenditures.
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