CytRx Corp. will redeem all of its 6 million class B warrantsoutstanding for 5 cents per warrant on Feb. 25, the companysaidy. The warrants may be exercised to purchase one share ofCytRx common stock (NASDAQ:CYTR) for $5 through Feb. 24.The warrants were to expire on Nov. 11.
CytRx is developing drugs based on copolymers to treatvascular, immune system and infectious diseases and burns.Shares of the Norcross, Ga., company closed down 13 cents onMonday at $9.75.
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