CytRx (CYTR) Misses Q3 EPS by 1c

CytRx (NASDAQ: CYTR) reported Q3 EPS of ($0.10), $0.01 worse than the analyst estimate of ($0.09).

"The third quarter of 2018 was highlighted by the filing of a provisional patent by Centurion BioPharma for the breakthrough albumin companion diagnostic (ACDx) for use alongside our innovative LADR™ (Linker Activated Drug Release) assets," said Eric Curtis, CytRx's President and Chief Operating Officer. "This new intellectual property is an important component of the overall LADR value proposition and will enhance our efforts to secure a strategic partnership to further advance these unique, promising assets, with the overarching goal of bringing these albumin binding ultra-high potency drug candidates to the physicians and patients who need them."

"Also during the quarter, we were pleased to make the final payment under our long-term loan agreement, and thereby extinguishing all of our outstanding debt. We also saw the expiration of approximately 3.2 million outstanding warrants for shares of our common stock, improving our overall capital structure."

For earnings history and earnings-related data on CytRx (CYTR) click here.

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