CytRx reported revenues of $0.1 million for 2010, compared with $9.5 million in 2009, which consisted of $9.4 million of deferred service revenue recognized from CytRx's 2006 $24.3 million royalty transaction with the ALS Charitable Remainder Trust or ALSCRT. Pursuant to an amendment signed between CytRx and the beneficiary of the ALSCRT in August 2009, the Company recognized the remaining revenue from this transaction as service revenue in 2009.

Research and development (R&D) expenses were $8.5 million for 2010, compared with $7.5 million for 2009. The increase in R&D expenses was due to the ramp up of the Company's oncology clinical trials. R&D expenses in 2010 included approximately $2.0 million for INNO-206 clinical programs, approximately $2.7 million for bafetinib clinical programs, $1.4 million for tamibarotene clinical program, approximately $2.1 million for general operation of clinical programs and $0.3 million of non-cash expenses.

General and administrative (G&A) expenses were $8.2 million for 2010, compared with $9.1 million for 2009. Due to more efficient management of our operations and a decrease in stock option expense, G&A expenses were lower in 2010 than in 2009.

Depreciation and amortization expenses for 2010 were $0.1 million, compared with $0.5 million for 2009, which included depreciation of the Company's laboratory equipment disposed of due to the completion of its research activities at its San Diego laboratory facility.

CytRx reported cash, cash equivalents and marketable securities, and proceeds from the sale of RXi Pharmaceuticals common shares totaling $33.8 million as of December 31, 2010, which represented an increase over the $32.6 million reported as of December 31, 2009.

SOURCE CytRx Corporation