An investor in NASDAQ:CYTR shares filed a lawsuit over alleged violations ofSecurities Laws by CytRx Corporation in connection with certain allegedly false and misleading statements made.
Investors who purchased shares of CytRx Corporation (NASDAQ:CYTR) have certain options and for certain investors are short and strict deadlines running. Deadline: September 23, 2016. NASDAQ:CYTR investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of CytRx Corporation (NASDAQ:CYTR) common shares between November 18, 2014, and July 11, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 18, 2014, and July 11, 2016 Defendants made allegedly false and/or misleading statements and/or failed to disclose: that the clinical hold placed on the Phase 3 trial of aldoxorubicin for STS would prevent sufficient follow-up for patients involved in the study, that, as a result, nearly half of all patients would be censored (excluded) from the progression free survival evaluation, that, in response, CytRx would likely conduct a second analysis, that, as such, the results of the trial could be materially affected and/or approval of aldoxorubicin for STS could be delayed, and that, as a result of the foregoing, Defendants’ statements about CytRx’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On July 11, 2016, CytRx Corporation announced the results of its Phase 3 clinical trial of aldoxorubicin, which did not show significant improvement over other commonly used cancer drugs. CytRx Corporation disclosed that nearly half of all patients in the Phase 3 trial were excluded from the data because the study was interrupted by a partial clinical hold in November 2014.
On August 17, 2016, NASDAQ:CYTR shares closed at $0.581 per share.
Those who purchased NASDAQ:CYTR shares ohave certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
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