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CytRx Faces Nasdaq Delisting Hearing

NEW YORK, April 28 (GenomeWeb News) - CytRx faces a May 13 hearing before the Nasdaq Qualifications Panel over a possible delisting of the company's common stock from the Nasdaq Small Cap market.

 

Los Angeles-based CytRx failed to file a Form 10-K annual report for 2003 and is working with an accounting firm to complete an audit of its 2003 financial statements with plans to file the form "as expeditiously as possible," the company said in a statement yesterday.

 

Additionally, the company said that Araios, its Worcester, Mass.-based subsidiary, will change its name to CytRx Laboratories.

The Scan

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