000-15327
(Commission File Number)
|
58-1642740
(I.R.S. Employer Identification No.)
|
11726 San Vicente Boulevard, Suite 650
Los Angeles, California
(Address of Principal Executive Offices)
|
90049
(Zip Code)
|
CYTRX CORPORATION | |||
Date: July 29, 2016
|
By:
|
/s/ JOHN Y. CALOZ | |
John Y. Caloz | |||
Title: Chief Financial Officer | |||
Exhibit
|
Description
|
99.1
|
Press Release dated July 29, 2016
|
·
|
Announce results of second analysis of Phase 3 aldoxorubicin clinical trial in patients with second-line STS, including longer patient follow-up and allowing for greater maturation of all endpoints, during the fourth quarter of 2016.
|
·
|
Hold an end-of-Phase 3 meeting with the FDA in the fourth quarter of 2016 regarding aldoxorubicin as a treatment for patients with advanced soft tissue sarcomas.
|
·
|
Currently anticipate reporting top-line results from the global Phase 2b clinical trial evaluating aldoxorubicin in patients with second-line small cell lung cancer (SCLC) in the fourth quarter of 2016.
|
June 30, 2016
|
December 31, 2015
|
|||||||
ASSETS
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
55,913,199
|
$
|
22,261,372
|
||||
Short-term investments
|
—
|
35,035,420
|
||||||
Receivables
|
224,702
|
4,621,605
|
||||||
Prepaid expenses and other current assets
|
1,337,068
|
2,373,708
|
||||||
Total current assets
|
57,474,969
|
64,292,105
|
||||||
Equipment and furnishings, net
|
1,990,334
|
1,467,681
|
||||||
Goodwill
|
183,780
|
183,780
|
||||||
Other assets
|
685,385
|
1,080,872
|
||||||
Total assets
|
$
|
60,334,468
|
$
|
67,024,438
|
||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
Current liabilities:
Accounts payable
|
$
|
7,293,498
|
$
|
8,058,624
|
||||
Accrued expenses and other current liabilities
|
5,395,495
|
9,693,359
|
||||||
Non-cash litigation settlement due in shares of common stock
|
700,000
|
4,500,000
|
||||||
Warrant liability
|
—
|
693,457
|
||||||
Term loan, net - current
|
1,716,265
|
—
|
||||||
Total current liabilities
|
15,105,258
|
22,945,440
|
||||||
Long term loan, net
|
21,870,212
|
—
|
||||||
Total liabilities
|
36,975,470
|
22,945,440
|
||||||
Commitments and contingencies
|
||||||||
Stockholders' equity:
|
||||||||
Preferred Stock, $0.01 par value, 5,000,000 shares authorized, including 25,000 shares of Series A Junior Participating Preferred Stock; no shares issued and outstanding
|
—
|
—
|
||||||
Common stock, $0.001 par value, 250,000,000 shares authorized; 68,371,643 shares issued and outstanding at June 30, 2016; 66,480,065 shares issued and outstanding at December 31, 2015
|
68,371
|
66,480
|
||||||
Additional paid-in capital
|
419,308,736
|
409,107,292
|
||||||
Accumulated deficit
|
(396,018,109
|
)
|
(365,094,774
|
)
|
||||
Total stockholders' equity
|
23,358,998
|
44,078,998
|
||||||
Total liabilities and stockholders' equity
|
$
|
60,334,468
|
$
|
67,024,438
|
Three Months Ended
June 30,
|
Six Months Ended
June 30,
|
|||||||||||||||
2016
|
2015
|
2016
|
2015
|
|||||||||||||
Revenue:
|
||||||||||||||||
License revenue
|
$
|
100,000
|
$
|
—
|
$
|
100,000
|
$
|
—
|
||||||||
Expenses:
|
||||||||||||||||
Research and development
|
12,452,340
|
10,008,304
|
20,604,559
|
22,573,181
|
||||||||||||
General and administrative
|
6,128,904
|
4,191,769
|
10,087,340
|
7,322,001
|
||||||||||||
18,581,244
|
14,200,073
|
30,691,899
|
29,895,182
|
|||||||||||||
Loss before other income (loss)
|
(18,481,244
|
)
|
(14,200,073
|
)
|
(30,591,899
|
)
|
(29,895,182
|
)
|
||||||||
Other income (loss):
|
||||||||||||||||
Interest income
|
65,436
|
46,455
|
127,174
|
103,029
|
||||||||||||
Interest expense
|
(741,346
|
)
|
—
|
(1,158,148
|
)
|
—
|
||||||||||
Other income (loss), net
|
(798
|
)
|
30,660
|
6,081
|
15,940
|
|||||||||||
Gain on warrant derivative liability
|
877,729
|
2,435,865
|
693,457
|
564,570
|
||||||||||||
Net loss
|
$
|
(18,280,223
|
)
|
$
|
(11,687,093
|
)
|
$
|
(30,923,335
|
)
|
$
|
(29,211,643
|
)
|
||||
Basic and diluted net loss per share
|
$
|
(0.27
|
)
|
$
|
(0.21
|
)
|
$
|
(0.46
|
)
|
$
|
(0.52
|
)
|
||||
Basic and diluted weighted-average shares outstanding
|
67,398,837
|
55,726,432
|
66,893,846
|
55,724,581
|