CytRx (CYTR) Tops Q2 EPS by 8c

CytRx (NASDAQ: CYTR) reported Q2 EPS of ($0.10), $0.08 better than the analyst estimate of ($0.18).

"To date, 2018 has been marked by several important achievements, most notably the launch of Centurion BioPharma Corporation, which is focused on personalized medicine in advancing our albumin binding ultra high potency LADR™ (Linker Activated Drug Release) drug candidates and platform technology, and the filing of a provisional patent application covering our breakthrough companion diagnostic to be used alongside the LADR assets," said Eric Curtis, CytRx's President and Chief Operating Officer. "We are extremely excited about the opportunity these innovative assets can offer to the oncology field and we are diligently working to secure a strategic partnership to advance them further."

"On the corporate and financial front, we have been executing on several key initiatives, including increasing our participation at institutional investor conferences, substantially reducing our cash burn rate, and strengthening our balance sheet. These efforts, combined with our addition to the Russell Microcap® Index, leave us well positioned to achieve our corporate objectives for the remainder of 2018," concluded Mr. Curtis.

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

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