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CytRx Corporation Regains Nasdaq Listing Compliance | ||
By: PR Newswire Association LLC. - 17 Nov 2017 | Back to overview list |
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LOS ANGELES, Nov. 17, 2017 /PRNewswire/ -- CytRx Corporation (NASDAQ: CYTR), a biopharmaceutical research and development company specializing in oncology, today announced that it received written notification on November 16, 2017, from the NASDAQ Listing Qualifications Department that it has regained compliance with the minimum bid price requirement set forth in NASDAQ Listing Rule Section 5550(a)(2) for continued listing of its common stock on The NASDAQ Capital Market. Separately, CytRx has engaged the services of a third party firm to conduct an in-depth investigation to determine the extent of short-selling (both institutional and naked) in the Company's common stock. The investigation firm will also look into the possible intent to manipulate the value of CytRx shares, including information concerning erroneous statements from bloggers, postings to CytRx message boards and other questionable practices. CytRx's investigators are already in possession of detailed shareholder records, including information on trading in the Company's stock. Any CytRx shareholder or individual who has any relevant information concerning institutions or individuals who may be behind these matters, can provide information anonymously to Ms. Cara Birardi, CytRx's Corporate Secretary. Ms. Birardi can be reached by phone at (310) 826-5648 ext. 305, by email at cbirardi@cytrx.com or by mail at 11726 San Vicente Blvd., Suite 650, Los Angeles, CA 90049. CytRx does not intend to make any further disclosures updating investors on the progress or status of the investigation into short seller activity or any possible manipulative trading or activities in its common stock, unless required under SEC rules. Results from the audit will then be sent to the United States Department of Justice, the United States Securities and Exchange Commission and Nasdaq. About CytRx Corporation Forward-Looking Statements Investor Relations Contact:
View original content:http://www.prnewswire.com/news-releases/cytrx-corporation-regains-nasdaq-listing-compliance-300558444.html SOURCE CytRx Corporation |
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Copyright 2017 PR Newswire Association LLC. | Back to overview list |