NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces it has commenced an investigation of CytRx Corporation (NASDAQ:CYTR) (“CytRx”) concerning possible violations of federal securities laws by the Company and/or certain of its officers and directors.
On July 11, 2016, CytRx announced the results of its Phase 3 clinical trial of aldoxorubicin, which did not show significant improvement over other commonly used cancer drugs. The Company 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. Following this announcement, shares of CytRx were down more than 63% on intraday trading on July 12, 2016. To obtain additional information, go to:
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Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.