CytRx Corp. said Thursday it has received a third milestonepayment of $1 million from Burroughs Wellcome Co. under a1990 agreement to develop RheothRx. The drug is in Phase Iclinical trials to test its ability to limit the tissue damagecaused by vascular blockage and inflammation in burns. Thedrug is scheduled to enter Phase II trials in the fourth quarter.
Norcross, Ga.-based CytRx (NASDAQ:CYTR) this week alsoreceived its 11th patent, No. 5,032,394, for RheothRx.
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