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CytRx Corporation (NASDAQ:CYTR) Investor Investigation Over Possible Violations Of Securities Laws Announced

  • If you purchased shares of CytRx Corporation (NASDAQ:CYTR), you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
CytRx Corporation
Security
NASDAQ: CYTR

Summary

July 18, 2016 (Shareholders Foundation) - An investigation on behalf of investors of CytRx Corporation (NASDAQ:CYTR) shares over potential securities laws violations by CytRx Corporation and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of CytRx Corporation (NASDAQ:CYTR) concerning whether a series of statements by CytRx Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On July 11, 2016, CytRx Corporation announced the results of its Phase 3 clinical trial of aldoxorubicin, which did not show significant improvement over other commonly used cancer drugs. CytRx Corporation disclosed that nearly half of all patients in the Phase 3 trial were excluded from the data because the study was interrupted by a partial clinical hold in November 2014.

Shares of CytRx Corporation (NASDAQ:CYTR) declined from $2.67 per share on July 11, 2016 to as low as $0.74 per share on July12, 2016.

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