Company Profile For Cytrx Corp

CytRx Corporation (CytRx) is a biopharmaceutical research and development company engaged in the development of human therapeutics. The Company’s drug development pipeline includes two product candidates in clinical development for cancer indications, including registration studies of tamibarotene for the treatment of acute promyelocytic leukemia (APL). In addition to its core oncology programs, the Company is developing treatments for neurodegenerative and other disorders based on its small-molecule molecular chaperone amplification technology. The Company is also engaged in new-drug discovery research at its laboratory facility in San Diego, California, utilizing its master chaperone regulator assay (MaCRA) technology. Apart from its drug development programs and new-drug discovery research activities, the Company maintains a 45% equity interest in its former subsidiary, RXi Pharmaceuticals Corporation (RXi).

BRIEF: For the six months ended 30 June 2009, CytRx Corporation's revenues decreased 38% to $2.4M. Net loss applicable to common decreased 48% to $6.2M. Revenues reflect a decrease in Service revenues. Net loss was offset by lower research & development expenses, a decrease in the general & administrative expenses, the absence of equity in loss of unconsolidated subsidiary and the absence of provision for income taxes.