LOS ANGELES, Feb. 8 /PRNewswire-FirstCall/ -- CytRx Corporation , a biopharmaceutical company engaged in the development and commercialization of human therapeutics, today announced that Steven A. Kriegsman, President and CEO of CytRx, is scheduled to present at the BIO CEO & Investor Conference 2006 on Wednesday, February 15, 2006 at 10:00 a.m. Eastern Time (7:00 a.m. Pacific Time.) The presentation will take place in the Duke of Windsor Room at the Waldorf Astoria Hotel at 301 Park Avenue, New York, New York.
"Our presentation at this prestigious conference provides an opportunity to update investors on progress with our Phase II program with our proprietary small molecule-based drug arimoclomol in the treatment of amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease,)" said Mr. Kriegsman. "We will also discuss our planned formation of a company based on our extensive RNAi technology, which we believe could enhance shareholder value by accelerating RNAi drug discovery and drug development programs."
A live audio webcast of the presentation will be available on the Company's Web site at www.cytrx.com and replays will be available for 90 days starting approximately three hours after the initial presentation.
About CytRx Corporation
CytRx Corporation is a biopharmaceutical research and development company engaged in the development of products. The Company owns three clinical-stage compounds based on its small molecule "molecular chaperone" co-induction technology, as well as a targeted library of 500 small molecule drug candidates that may be used to screen for new drug candidates. CytRx has initiated a Phase II clinical trial with its lead small molecule product candidate arimoclomol for the treatment for amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease). Arimoclomol has received Orphan Drug and Fast Track designation from the U.S. Food and Drug Administration. CytRx has previously announced that a novel HIV DNA + protein vaccine exclusively licensed to CytRx and developed by researchers at UMMS and Advanced BioScience Laboratories, and funded by the National Institutes of Health, demonstrated very promising interim Phase I clinical trial results that indicate its ability to produce potent antibody responses with neutralizing activity against multiple HIV viral strains. For more information, visit CytRx's Web site at www.cytrx.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Examples of such statements include, but are not limited to, statements relating to the expected timing, scope and results of our clinical development and research programs, including the initiation of clinical trials, and statements regarding the potential benefits of our drug candidates and potential drug candidates. Such statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to CytRx's ability to obtain capital to fund its working capital needs for its RNAi development activities, uncertainties related to the early stage of CytRx's RNAi, diabetes, obesity, cytomegalovirus and ALS research, the need for future clinical testing of any RNAi-based product candidates and small molecules that may be developed by CytRx, the significant time and expense that will be incurred in developing any of the potential commercial applications for CytRx's RNAi technology or small molecules, uncertainties related to regulatory approvals for clinical testing and the scope of the clinical testing that may be required by regulatory authorities for its molecular chaperone co-induction drug candidates, including arimoclomol, and other products, and the timing and outcomes of those tests, risks relating to the enforceability of any patents covering CytRx's products and to the possible infringement of third party patents by those products, and the impact of third party reimbursement policies on the use of and pricing for CytRx's products. Additional uncertainties and risks are described in CytRx's most recently filed SEC documents, such as its most recent annual report on Form 10-K, all quarterly reports on Form 10-Q and any current reports on Form 8-K filed since the date of the last Form 10-K. All forward-looking statements are based upon information available to CytRx on the date the statements are first published. CytRx undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For Additional Information: CytRx Corporation CEOcast, Inc. Ed Umali Investor Contacts: 310/826-5648 Kevin Theiss (ktheiss@ceocast.com) eumali@cytrx.com Cormac Glynn (cglynn@ceocast.com) 212/732-4300
CytRx CorporationCONTACT: Ed Umali of CytRx Corporation, +1-310-826-5648, eumali@cytrx.com;or Investors, Kevin Theiss, ktheiss@ceocast.com, or Cormac Glynn,cglynn@ceocast.com, both of CEOcast, Inc., +1-212-732-4300, for CytRxCorporation
Web site: http://www.cytrx.com/
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