CytRx Corporation (Nasdaq: CYTR) dwindled -2.80% to trade at $ 0.65 in the recent trading session and its total traded volume was 94037 shares versus to an average volume of 156.12K. The company has market cap of $22.03M. The stock has positive monthly performance of 7.06% while its yearly performance remained -58.45%.
The stock demonstrated a negative move of -8.98% in previous 5 days graph. Its quarterly performance remained in the green with the percentage of 85.83%, while its year to date performance showed that the stock jumped overall 49.06% The 52 week range of the stock was $0.33 – 2.05.
CytRx Corporation (Nasdaq: CYTR), a biopharmaceutical research and development company specializing in oncology, reported financial results for the full year ended December 31, 2018 and provided an overview of recent accomplishments and plans for its research and development programs.
“During late 2018 and early 2019, our core focus has been on working to secure a strategic partnership for our albumin binding ultra high potency LADR™ (Linker Activated Drug Release) assets and the accompanying albumin companion diagnostic (ACDx),” said Eric Curtis, CytRx’s President and Chief Operating Officer. “As part of that effort, we have been publishing and raising awareness around the important data generated by Dr. Felix Kratz and his team. With the conclusion of the LADR™ pre-clinical phase in late 2018, our cash burn has been significantly reduced, allowing for a longer runway as we work to execute on our corporate objectives. In parallel, we are pleased to see positive momentum by our asset licensees, NantCell and Orphazyme A/S.
Full Year 2018 Financial Results
CytRx reported cash and cash equivalents of $21.4 million as of December 31, 2018.
With the closing of the Freiburg lab operations, CytRx treated the expenses of those operations as discontinued operations in both 2018 and 2017.
Net loss for the year ended December 31, 2018, was $12.7 million, or $(0.41) per share, compared with a net loss of $35.0 million, or $(1.46) per share, for the comparative 2017 period, a reduction of $22.2 million, or approximately 63 percent. This included a loss from discontinued operations of $3.6 million in 2018 as compared to $4.5 million in 2017.
Research and development (R&D) expenses were minimal for 2018 as compared to $15.8 million for 2017.
General and administrative (G&A) expenses were $8.1 million for 2018 compared with $12.5 million for 2017. G&A expenses decreased by approximately 35 percent primarily due to a decrease in professional fees and a reduction in employees.
Based on our currently projected expenditures for the year, we have reduced our burn rate to approximately $500,000 per month.
The Company has an insider ownership of 8.50% and institutional ownership remained 10.20%. Its return on investment (ROI) for the last 12 month was -114.50% and its return on equity (ROE) of -68.20% for the last 12 months while return on assets (ROA) is at -35.30%.
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Zip Code: 33710
Phone Number: 727-585-5160