CytRx Corp. on Wednesday said it netted about $25.7 millionfrom the exercise of 5.3 million redeemable Class B warrants.Each warrant entitled the holder to buy a share of commonstock (NASDAQ:CYTR) for $5. The stock closed Wednesday at$8.88, up 38 cents.
The warrants originally were to expire Nov. 11, but thecompany called for their redemption by Tuesday. The Norcross,Ga., company, which is developing therapeutics incorporatingcopolymers, now has 31 million shares of stock outstanding.
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