LOS ANGELES--(BUSINESS WIRE)--CytRx Corporation (Nasdaq: CYTR), a biopharmaceutical company specializing in oncology, today announced the initiation of an international Phase 2b clinical trial to evaluate the preliminary efficacy and safety of its tumor-targeting doxorubicin conjugate INNO-206 in patients with late-stage soft tissue sarcoma. The Phase 2b clinical trial will provide the first direct clinical trial comparison of INNO-206 with native doxorubicin, which is dose-limited due to toxicity, as a first-line therapy.