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CytRx slumps further after pricing offering
Oct 9 2013, 08:52 ET |
CytRx Corporation (CYTR)
, SA News Editor
) prices its 10M share offering at $2.25 per share.
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CYTR is like so many other small drug research companies whose main goal is to meet the payroll thru reverse splits and issuing more stocks. My advice to the newbies....stay away!
9 Oct 2013, 05:26 PM
Over 4 million shares traded today, meaning there were buyers for those shares as well as sellers. The buyers probably liked the Phase 2b 22% ORR for aldoxorubicin, versus 0% for doxorubicin for soft tissue sarcoma. Advancing this rather promising pipeline is the "main goal" of the company, a secondary offering is just one of the means necessary to keep the lights on.
9 Oct 2013, 06:57 PM
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