000-15327
(Commission File Number)
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58-1642740
(I.R.S. Employer Identification No.)
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|
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11726 San Vicente Boulevard, Suite 650
Los Angeles, California
(Address of Principal Executive Offices)
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90049
(Zip Code)
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Exhibit No.
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|
Description
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Press Release dated November 8, 2017
|
CYTRX CORPORATION | |||
Date: November 9, 2017
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By:
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/s/ JOHN Y. CALOZ | |
John Y. Caloz | |||
Title: Chief Financial Officer | |||
September 30,
2017
|
December 31,
2016
|
|||||||
ASSETS
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
45,995,642
|
$
|
56,959,485
|
||||
Receivables
|
440,177
|
183,703
|
||||||
Prepaid expenses and other current assets
|
2,016,636
|
3,434,238
|
||||||
Total current assets
|
48,452,455
|
60,577,426
|
||||||
Equipment and furnishings, net
|
1,177,271
|
1,959,667
|
||||||
Goodwill
|
183,780
|
183,780
|
||||||
Other assets
|
35,869
|
48,911
|
||||||
Total assets
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$
|
49,849,375
|
$
|
62,769,784
|
||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
Current liabilities:
Accounts payable
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$
|
5,033,748
|
$
|
6,406,445
|
||||
Accrued expenses and other current liabilities
|
2,897,266
|
3,830,498
|
||||||
Warrant liabilities
|
2,467,011
|
3,789,391
|
||||||
Term loan, net - current
|
11,052,705
|
5,481,656
|
||||||
Deferred revenues
|
6,924,353
|
—
|
||||||
Total current liabilities
|
28,375,083
|
19,507,990
|
||||||
Long term loan, net
|
—
|
18,484,510
|
||||||
Total liabilities
|
28,375,083
|
37,992,500
|
||||||
Commitments and contingencies
|
||||||||
Stockholders' equity (2016 restated to reflect a 1-6 reverse stock split, see Note 1):
|
||||||||
Preferred Stock, $0.01 par value, 833,334 shares authorized, including 4,167 shares of Series A Junior Participating Preferred Stock; no shares issued and outstanding
|
—
|
—
|
||||||
Preferred Stock, $1,000 stated value, 650 shares authorized, 0 and 518 outstanding at September 30, 2017 and December 31, 2016
|
—
|
518,000
|
||||||
Common stock, $0.001 par value, 41,666,667 shares authorized; 27,637,634 shares issued and outstanding at September 30, 2017; 18,553,816 shares issued and outstanding at December 31, 2016
|
27,638
|
18,554
|
||||||
Additional paid-in capital
|
467,839,469
|
440,106,725
|
||||||
Accumulated deficit
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(446,392,815
|
)
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(415,865,995
|
)
|
||||
Total stockholders' equity
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21,474,292
|
24,777,284
|
||||||
Total liabilities and stockholders' equity
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$
|
49,849,375
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$
|
62,769,784
|
Three Months Ended
September 30,
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Nine Months Ended
September 30,
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|||||||||||||||
2017
|
2016
|
2017
|
2016
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|||||||||||||
Revenue:
|
||||||||||||||||
License revenue
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$
|
—
|
$
|
—
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$
|
—
|
$
|
100,000
|
||||||||
Expenses:
|
||||||||||||||||
Research and development
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4,755,191
|
8,927,037
|
17,675,079
|
29,531,609
|
||||||||||||
General and administrative
|
3,418,808
|
2,771,732
|
9,534,872
|
12,859,069
|
||||||||||||
8,173,999
|
11,698,769
|
27,209,951
|
42,390,678
|
|||||||||||||
Loss before other income (loss)
|
(8,173,999
|
)
|
(11,698,769
|
)
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(27,209,951
|
)
|
(42,290,678
|
)
|
||||||||
Other income (loss):
|
||||||||||||||||
Interest income
|
119,900
|
68,635
|
271,292
|
195,809
|
||||||||||||
Interest expense
|
(828,120
|
)
|
(781,038
|
)
|
(2,999,230
|
)
|
(1,939,186
|
)
|
||||||||
Other (loss), net
|
(6,055
|
)
|
(10,489
|
)
|
(16,722
|
)
|
(4,398
|
)
|
||||||||
Gain (loss) on warrant derivative liabilities
|
3,763,855
|
246,211
|
(572,209
|
)
|
939,668
|
|||||||||||
Net loss
|
$
|
(5,124,419
|
)
|
$
|
(12,175,450
|
)
|
$
|
(30,526,820
|
)
|
$
|
(43,098,785
|
)
|
||||
Basic and diluted net loss per share
|
$
|
(0.19
|
)
|
$
|
(0.80
|
)
|
$
|
(1.33
|
)
|
$
|
(3.45
|
)
|
||||
Basic and diluted weighted-average shares outstanding
|
26,618,098
|
15,173,742
|
22,936,843
|
12,500,295
|
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