Brief: CytRx secures $40 million long-term loan facility

LadRx

08/02/2016 14:01

Feb 8 (Reuters) - CytRx Corp  CYTR.O : 
 * Secures $40 million long-term loan facility 
 * Proceeds from first $25 million tranche will be used for 
   pre-commercialization and manufacturing activities for aldoxorubicin 
 * Says has received the first $25 million of financing under the loan and 
   security agreement 
 * Second tranche of up to $15 million will be available on or before December 
   31 if co says positive data from phase 3 clinical trial of aldoxorubicin 
 
* Source text for Eikon  urn:newsml:reuters.com:*:nPn7qF8Wc 
 
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