CytRx Reports Increased Q2 Net Loss on Zero Revenues as Firm Deals with Various Setbacks | GenomeWeb

CytRx reported this week its financial results for the second quarter, posting higher net loss on surging expenses and a complete drop-off of revenues.

Meanwhile, the company continues to deal with a number of potentially damaging issues including a clinical hold on its phase II small-molecule treatment for amyotrophic lateral sclerosis, a potential delisting from the Nasdaq exchange, the need to secure additional capital, and two lawsuits filed last month against President and CEO Steven Kriegsman.

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