Skip to main content
Premium Trial:

Request an Annual Quote

CytRx Drops Support for Blizzard, Psynomics

NEW YORK, Jan. 18 (GenomeWeb News) --  CytRx will stop supporting genomics companies Blizzard Genomics and Psynomics and write off its prior investments as losses, the company said on Friday.

 

CytRx, based in Los Angeles, said there is "substantial doubt about their abilities to continue as going concerns." As a result, the CytRx plans to write off its investments in Blizzard and Psynomics in the last quarter of 2003.

 

GGC Pharmaceuticals, which merged with CytRx in 2002, had invested about $1.65 million in cash in Blizzard and Psynomics. Since the merger, CytRx has invested less than $25,000 in the companies. The carrying value of these companies, as of Sept. 30, was about $5.85 million.

 

The Scan

Booster Push

New data shows a decline in SARS-CoV-2 vaccine efficacy over time, which the New York Times says Pfizer is using to argue its case for a booster, even as the lower efficacy remains high.

With Help from Mr. Fluffington, PurrhD

Cats could make good study animals for genetic research, the University of Missouri's Leslie Lyons tells the Atlantic.

Man Charged With Threatening to Harm Fauci, Collins

The Hill reports that Thomas Patrick Connally, Jr., was charged with making threats against federal officials.

Nature Papers Present Approach to Find Natural Products, Method to ID Cancer Driver Mutations, More

In Nature this week: combination of cryogenic electron microscopy with genome mining helps uncover natural products, driver mutations in cancer, and more.