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IMMUNITYBIO, INC.

(IBRX)
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CytRx Comments on Quarterly Results and Year-toDate Progress

05/14/2021 | 07:26am EDT

LOS ANGELES - CytRx Corporation (OTCQB: CYTR) ('CytRx' or the 'Company'), a specialized biopharmaceutical company focused on research and development for the oncology and neurodegenerative disease categories, commented on its results for the first quarter ended March 31, 2021. In addition, CytRx highlighted developments pertaining to its agreements with Orphazyme A/S (NASDAQ: ORPH) ('Orphazyme') and ImmunityBio, Inc. (NASDAQ: IBRX) ('ImmunityBio') as well as Centurion Biopharma. The Company's 10-Q was filed on May 13, 2021.

Steven A. Kriegsman, Chairman and Chief Executive Officer of CytRx, stated: 'CytRx continues to execute on its strategic plan to cut costs, maintain a stable capital position, and nimbly manage a portfolio of high-potential licensing agreements and strategic assets. We are very excited about the quarters ahead now that Orphazyme is preparing for prospective regulatory approvals for arimoclomol in the treatment of Niemann-Pick disease Type C and ImmunityBio is expanding its scope of clinical trials involving aldoxorubicin to treat advanced pancreatic cancer. We also continue to pursue viable partnership opportunities that can bring Centurion Biopharma's platform into the clinical testing phase.'

About CytRx Corporation

CytRx Corporation (OTCQB: CYTR) is a biopharmaceutical company with expertise in discovering and developing new therapeutics principally to treat patients with cancer and neurodegenerative diseases. CytRx's drug candidate, arimoclomol, was sold to Orphazyme A/S (Nasdaq Copenhagen exchange: ORPHA.CO) in exchange for milestone payments and royalties. Orphazyme is developing arimoclomol in Niemann-Pick disease Type C ('NPC') and Gaucher disease. Learn more at www.cytrx.com.

Forward-Looking Statements

This press release contains forward-looking statements. 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 and uncertainties relating to the ability of Orphazyme to obtain regulatory approval for, manufacture and commercialize its products and therapies that use arimoclomol; the results of future clinical trials involving arimoclomol; the amount, if any, of future milestone and royalty payments that we may receive from Orphazyme; the ability of ImmunityBio, to obtain regulatory approval for its products that use aldoxorubicin; the ability of ImmunityBio, to manufacture and commercialize products or therapies that use aldoxorubicin; the amount, if any, of future milestone and royalty payments that we may receive from ImmunityBio; and other risks and uncertainties described in the most recent annual and quarterly reports filed by the Company with the Securities and Exchange Commission (the 'SEC') and current reports filed since the date of the Company's most recent annual report. All forwardlooking statements are based upon information available to the Company on the date the statements are first published. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Investors

Greg Marose

Charlotte Kiaie

E: cytrx@profileadvisors.com

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
CYTRX CORPORATION -4.19% 2.97 Delayed Quote.69.71%
IMMUNITYBIO, INC. 1.88% 15.19 Delayed Quote.13.95%
ORPHAZYME A/S 136.76% 80.5 Delayed Quote.19.97%
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