CYTR Cytrx Corp. (MM)

On May 24, 2019, CytRx Corporation (the “ Company ”) received a determination letter (the “ Letter ”) from the staff of The Nasdaq Stock Market LLC (“ Nasdaq ”) stating that the Company has not regained compliance with The Nasdaq Capital Market minimum bid price requirement of $1.00 per share for continued listing set forth in Nasdaq Listing Rule 5550(a)(2). As previously disclosed, the Company was initially notified on November 23, 2018 that the bid price for its common stock did not satisfy the minimum bid price requirement and in accordance with the Nasdaq Listing Rules, the Company was provided 180 calendar days, or until May 22, 2019, to regain compliance with the minimum bid price requirement. The Company did not regain compliance with this requirement and is not eligible for a second 180 day period, since the Company is not seeking to implement a reverse stock split of its common stock.

The Company expects that its common stock will be delisted from Nasdaq at the opening of trading on June 4, 2019, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company’s common stock from listing and registration on Nasdaq. On such date, the Company expects that its common stock will commence trading on the OTCQB Venture Market under the same trading symbol, which is “CYTR.” The Company expects to continue filing all required statements and reports with the Securities and Exchange Commission under Section 12(g) of the Securities Exchange Act of 1934, as amended.

The Company issued a press release dated May 31, 2019 with respect to the change in trading market for its common stock, which is filed as Exhibit 99.1 to this Form 8-K.