Company Update (NASDAQ:CYTR): Dr. Anita J. Chawla Joins CytRx Board of Directors to Add Additional Drug Commercialization Expertise in Oncology

CytRx Corporation (Nasdaq:CYTR), a biopharmaceutical research and development company specializing in oncology, announced the appointment of Anita J. Chawla, PhD, to its Board of Directors.

Dr. Chawla brings over 25 years of experience as an economist in the health care industry to CytRx, with a proven track record helping pharmaceutical, biotechnology, medical device, and diagnostic companies achieve their product development and commercialization objectives.  Most recently, she has provided strategic consultancy services to a variety of life science companies, including CytRx.  With broad experience advising companies in matters including corporate and business unit strategy, market dynamics across multiple therapeutic areas, reimbursement, health economics, and business analytics, her appointment strengthens the executive leadership team and adds significant operational and commercial expertise.

“We are delighted to welcome Anita to the CytRx Board of Directors,” said Steven A. Kriegsman, Chairman and CEO of CytRx.  “Anita is a talented health economist who has become a very successful and trusted advisor to biopharmaceutical companies.  She has been intimately involved in providing strategic guidance for product development and commercialization in oncology for many successful biopharmaceutical companies and we believe her contributions will be invaluable as we prepare to commercialize aldoxorubicin and other new treatments for cancer patients.”

“CytRx’s aldoxorubicin is a novel, targeted therapeutic that has shown promise in various oncology clinical trials and has significant potential in several cancer types,” said Dr. Chawla. “I look forward to working alongside the Board and management team to help CytRx navigate the clinical and commercial development of its lead asset and create long term value for shareholders.”

Dr. Chawla currently serves as Managing Principal at Analysis Group, a consultancy firm that provides economic, financial, and business strategy consulting to corporations, law firms, and government agencies.  Clients include major pharmaceutical manufacturers, biotech and medical device companies, including smaller, innovative companies.  Prior to joining Analysis Group, she held positions at Genentech, Inc. as the head of the Health Economics & Outcomes Research department where she also supported the oncology franchise, The MEDSTAT Group (now Truven Health Analytics), and the American Medical Association (Center for Health Policy Research).  She has over 75 professional presentations, technical reports, and publications to her credit.  Dr. Chawla also serves on the Board of Trustees of Newbury College in Brookline, Massachusetts.  She has served as a reviewer or referee for several journals, including Value in Health, Health Affairs,Health Services Research, Journal of the American Medical Association, and Journal of Business and Economic Statistics.  Dr. Chawla holds a Ph.D. in Economics from the University of Michigan and received a Bachelor of Arts degree in Economics and Political Science from Wellesley College.

Dr. Anita Chawla bears no familial relation to Sant P. Chawla, M.D., FRACP, Director of the Sarcoma Oncology Center and Principal Investigator of the Company’s global Phase 3 clinical trial in soft tissue sarcoma or Shanta Chawla, M.D., Vice President, Clinical Development at CytRx.

Shares of Cytrx closed yesterday at $3.12 . CYTR has a 1-year high of $5.54 and a 1-year low of $2.08. The stock’s 50-day moving average is $2.96 and it’s 200-day moving average is $2.84.

On the ratings front, Cytrx has been the subject of a number of recent research reports. In a report issued on January 23, Aegis Capital Corp. analyst Yi Chen maintained a Buy rating on CYTR, with a price target of $12, which represents a potential upside of 284.6% from where the stock is currently trading.

According to TipRanks, Chen has a total average return of -1.5%, a 44.4% success rate, and is ranked 2684 out of 3511 analysts.

CytRx Corp is a biopharmaceutical research and development company specializing in oncology. Its oncology pipeline includes three clinical-stage drug candidates in various stages of development: Aldoxorubicin, Tamibarotene, and Bafetinib.

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