LadRx starts hunt for new life; Stat­era lines up merg­er with di­ag­nos­tics com­pa­ny

LadRx, for­mer­ly known as CytRx, will look for “strate­gic and fi­nanc­ing al­ter­na­tives,” the can­cer biotech said Wednes­day.

The Los An­ge­les biotech, list­ed on the over-the-counter mar­ket, said it ini­ti­at­ed a process look­ing for a merg­er, strate­gic sale, up-list­ing to Nas­daq or oth­er forms of “max­i­miz­ing share­hold­er val­ue.” Roth Cap­i­tal Part­ners will ad­vise the com­pa­ny.

“We be­lieve that LadRx has great po­ten­tial if Ari­mo­clo­mol and Al­dox­oru­bicin suc­cess­ful­ly nav­i­gate clin­i­cal tri­als and reg­u­la­to­ry ap­provals, and we have ad­di­tion­al next-gen­er­a­tion on­col­o­gy drugs in the pipeline,” CEO Stephen Snowdy said in a state­ment.

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