LOS ANGELES--(BUSINESS WIRE)--CytRx Corporation (Nasdaq: CYTR), a biopharmaceutical company specializing in oncology, today announced that it has been awarded a nontaxable grant of approximately $735,000 related to its INNO-206, tamibarotene and bafetinib programs under the Qualifying Therapeutic Discovery Project Program included in the Patient Protection and Affordable Care Act, H.R. 3590, signed into law in March 2010. The grant is being allocated in two tranches, with $635,000 to be received in 2010 and $100,000 in 2011.
