LOS ANGELES, June 25, 2018 /PRNewswire/ -- CytRx Corporation (NASDAQ:CYTR), a biopharmaceutical research and development company specializing in oncology, today announced that it has been added to the Russell Microcap® Index, effective upon the market opening today, Monday, June 25, 2018.
"We are honored to be added to the Russell Microcap® Index," said Eric Curtis, CytRx's President and Chief Operating Officer. "We believe our inclusion highlights the growth CytRx has made as a company and the progress our newly launched private subsidiary, Centurion BioPharma Corporation, continues to make in advancing its LADR™ technology for the benefit of patients in need."
About the Russell Indexes
The Russell indexes are broadly referenced as benchmarks by active investment strategists and institutional investors for index funds. The Russell Microcap® Index is a capitalization-weighted index of 2,000 small cap and micro cap stocks that captures 1,000 small-cap companies in the Russell 2000®, in addition to 1,000 other U.S.-based stocks. The index is reconstituted yearly.
For more information on the Russell Microcap® Index and the Russell US Indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.
About CytRx Corporation
CytRx Corporation (Nasdaq: CYTR) is a biopharmaceutical company with expertise in discovering and developing new therapeutics to treat patients with cancer. CytRx's most advanced drug conjugate, aldoxorubicin, is an improved version of the widely used anti-cancer drug doxorubicin and has been out-licensed to NantCell, Inc.CytRx Corporation's website is www.cytrx.com.
About Centurion BioPharma Corporation
CytRx's wholly owned subsidiary, Centurion BioPharma Corporation, is focused on advancing a portfolio of novel, anti-cancer drug candidates that employ its LADR™ (Linker Activated Drug Release) technology, a discovery engine designed to leverage the Company's expertise in albumin biology and linker technology for the development of a new class of potential breakthrough anti-cancer therapies. A critical element of the LADR™ platform is its ability to bind anti-cancer molecules to albumin, the most ubiquitous protein in human blood plasma, and then to release the highly potent cytotoxic payload at the tumor site. This technology allows for the delivery of higher doses of drug directly to the tumor, while avoiding much of the off-target toxicity observed with the parent molecules. The website is www.centurionbiopharma.com.
This press release contains forward-looking statements. Such statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks and uncertainties relating to the ability of NantCell, Inc., to obtain regulatory approval for its products that use aldoxorubicin; the ability of NantCell, Inc., to manufacture and commercialize products or therapies that use aldoxorubicin; the amount, if any, of future milestone and royalty payments that we may receive from NantCell, Inc.; Centurion BioPharma Corporation's ability to develop new ultra-high potency drug candidates based on its LADR™ technology platform; our ability to attract potential licensees; and other risks and uncertainties described in the most recent annual and quarterly reports filed by CytRx with the Securities and Exchange Commission and current reports filed since the date of CytRx's most recent annual report. All forward-looking statements are based upon information available to CytRx on the date the statements are first published. CytRx undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE CytRx Corporation