San Diego, CA -- (SBWIRE) -- 07/18/2016 -- An investigation on behalf of investors of CytRx Corporation shares over potential securities laws violations by CytRx Corporation in connection certain financial statements was announced.

Investors who purchased shares of CytRx Corporation (NASDAQ:CYTR), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by CytRx Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On July 11, 2016, CytRx Corporation announced the results of its Phase 3 clinical trial of aldoxorubicin, which did not show significant improvement over other commonly used cancer drugs. CytRx Corporation disclosed that nearly half of all patients in the Phase 3 trial were excluded from the data because the study was interrupted by a partial clinical hold in November 2014. Shares of CytRx Corporation (NASDAQ:CYTR) declined from $2.67 per share on July 11, 2016 to as low as $0.554 per share on July15, 2016.

Those who purchased shares of CytRx Corporation have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com