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Nature of Business
12 Months Ended
Dec. 31, 2011
Nature of Business [Abstract]  
Nature of Business
1. Nature of Business
 
CytRx Corporation (“CytRx” or the “Company”) is a biopharmaceutical research and development company specializing in oncology. CytRx's oncology pipeline includes three programs in clinical development for cancer indications: INNO-206, tamibarotene and bafetinib. With its tumor-targeted doxorubicin conjugate INNO-206, the Company has initiated an international Phase 2b clinical trial as a treatment for soft tissue sarcomas, is completing an ongoing Phase 1b/2 clinical trial for primarily the same indication, and plans to initiate a Phase 2 trial for an undisclosed solid tumor indication in the first half of 2012. The Company's pipeline also includes tamibarotene, which it is testing in a double-blind, placebo-controlled, international Phase 2b clinical trial in patients with non-small-cell lung cancer, and which is in a clinical trial as a treatment for acute promyelocytic leukemia (APL). CytRx is evaluating bafetinib in the ENABLE Phase 2 clinical trial in high-risk B-cell chronic lymphocytic leukemia (B-CLL), and plans to seek a partner for further development of bafetinib. In 2011, the Company completed its strategy of monetizing its non-core assets through the sale of its molecular chaperone technology to Denmark-based Orphazyme ApS in a transaction valued at up to $120 million, the sale of its 19% interest in SynthRx to ADVENTRX Pharmaceuticals, and the disposition of its remaining shares of RXi Pharmaceuticals in a series of transactions that provided the Company with approximately $17 million in non-dilutive financing.
 
At December 31, 2011, the Company had cash and cash equivalents of approximately $18.0 million and marketable securities of $18.1 million. Management believes that the Company's current cash on hand, together with its marketable securities, will be sufficient to fund its operations for the foreseeable future.  The estimate is based, in part, upon the Company's currently projected expenditures for 2012 of approximately $23.7 million (unaudited), which includes approximately $7.0 million (unaudited) for its clinical programs for INNO-206, approximately $5.3 million (unaudited) for its clinical program for tamibarotene, approximately $0.4 million (unaudited) for its clinical programs for bafetinib, approximately $4.5 million (unaudited) for general operation of its clinical programs, and approximately $6.5 million (unaudited) for other general and administrative expenses. These projected expenditures are also based upon numerous other assumptions and subject to many uncertainties, and actual expenditures may be significantly different from these projections.  The Company will be required to obtain additional funding in order to execute its long-term business plans, although it does not currently have commitments from any third parties to provide it with capital. The Company cannot assure you that additional funding will be available on favorable terms, or at all. If the Company fails to obtain additional funding when needed, it may not be able to execute its business plans and its business may suffer, which would have a material adverse effect on its financial position, results of operations and cash flows.