CytRx (CYTR -11.7%) has priced an 11.5M-share stock offering at $6.50, 19% below yesterday's closing price of $7.98. Underwriters have a 1.725M-share overallotment option. (PR)
Gross proceeds are set to total $75M. CytRx says it will use net proceeds to fund clinical trials for its Aldoxorubicin cancer drug, and for "general corporate purposes."