Kriegsman noted, "Also, in collaboration with University of
Massachusetts Medical School (UMMS) and Advanced Bioscience Laboratories
(ABL), we moved ahead in a Phase I clinical trial using a DNA-based HIV
vaccine technology, and enrollment in the study was completed approximately
six months ahead of schedule.7 million at March 31, 2005, compared with $1.

2005 and Recent Highlights
Highlights of the first three months of 2005 include the following:

* CytRx substantially increased its liquid assets during the quarter
through a private placement of 17,334,494 shares of its common stock,
with net proceeds of $19.S.com/reports/c13823) has announced the addition
of Neurogenomics and Neurotherapeutic Strategies: New Directions in Platforms,
Targets, and Therapeutic Approaches to their offering.

pharmacogenetics virology

CytRx Corporation Reports First Quarter Financial Results

com/reports/c13823

Laura Wood
Senior Manager
Research and Markets
press@researchandmarkets.

hyperactivity addenbrooke

5 million,
or $(0. Neurogenomics and
Neurotherapeutic Strategies: New Directions in Platforms, Targets, and
Therapeutic Approaches evaluates drug development efforts in six major CNS
diseases:

-- Alzheimer's disease
-- Parkinson's disease
-- Amyotrophic Lateral Sclerosis
-- Schizophrenia
-- Depression
-- Bipolar disorder

This report surveys the numerous R+D efforts under way at companies and
institutions around the world, focusing on discovery projects, preclinical
studies , and early-stage human trials.

dysphoria choc

5 million, compared with $3.00 per share. The HIV vaccine is licensed exclusively to CytRx
by UMMS and ABL.com.
CytRx undertakes no obligation to publicly update or revise any forward-
looking statements, whether as a result of new information, future events or
otherwise.newscom. It also addresses investigational
methods, proposed mechanisms of action , pathways, and targets that research
teams are exploring in order to move one step closer to developing effective
therapeutics.

yaba virology

In the quarter, we made substantial progress toward our planned
initiation of a Phase II clinical trial for arimoclomol, which further marks
CytRx's maturation into a drug development company.
As of March 31, 2005, cash, cash equivalents and short-term investments
totaled $19.4 million.

diarrhoeal hyperactivity

3
million at December 31, 2004.

nefkens diarrhoeal

The Company owns three clinical-stage compounds based
on its small molecule molecular "chaperone" co-induction technology, as well
as a targeted library of 500 small molecule drug candidates that may be used
to screen for new drug candidates .researchandmarkets.

psychopharmacology characterize

In the United States alone, Alzheimer's disease
(AD), Parkinson's disease (PD ), and amyotrophic lateral sclerosis (ALS)
afflict more than 6.

choc premenstrual

3 million for the corresponding period in
2004.researchandmarkets.

immunobiology harborview

07) per share, compared with a net loss of $3.1 million non-cash charge
related to consulting services that was incurred in the first quarter of 2004
for which there was no corresponding expense incurred in the first quarter of
2005.

rheumatology psychopharmacology

More recently, arimoclomol was granted orphan
drug designation by the U.
Working capital was $17. The Company plans to use these
funds to advance its clinical development of its lead compounds and
fund its operations .

postdoctoral diarrhoeal

"
Mr.
CytRx also has a broad-based strategic alliance with the University of
Massachusetts Medical School (UMMS) to develop novel compounds in the areas of
ALS, obesity, type 2 diabetes and cytomegalovirus (CMV) using RNAi technology.

characterize immunobiology

Kriegsman.cytrx.
Additional uncertainties and risks are described in CytRx's most recently
filed SEC documents, such as its most recent annual report on Form 10-K, all
quarterly reports on Form 10-Q and any current reports on Form 8-K filed since
the date of the last Form 10-K.com/cgi-bin/prnh/20040820/RESEARCH )
CNS disorders affect a vast patient population and represent a huge area
of unmet therapeutic need.5 million people.

Companies and Organizations Featured in Report

Forest Laboratories
Boehringer -Ingelheim Pharmaceuticals
Prana Biotechnology
Memory Pharmaceuticals
GlaxoSmithKline
Acumen Pharmaceuticals
Bristol-Myers Squibb
Ceregene
NPS Pharmaceuticals
Targacept
Cortex Pharmaceuticals
Neurocrine Biosciences
Neurochem
Lexicon Genetics
Avigen
Neurologix
CytRx
Cephalon
Newron Pharmaceuticals
deCODE genetics
Acadia Pharmaceuticals
Prana Biotechnology
Pherin Pharmaceuticals
Targacept
Wyeth
GlaxoSmithKline
Pfizer
Sanofi-Synthilabo
AstraZeneca
Aventis Pharmaceuticals
Eli Lilly
Lexicon Genetics
Somerset Pharmaceuticals
Potomac Pharma and the Stanley Medical Research Institute
NPS Pharmaceuticals
American Biogenetic Sciences
Baylor College of Medicine's
Harvard Medical School's
Johns Hopkins University's
University of California

For more information visit
http://www.

yaba hyperactivity

"

Review of Financial Results
For the first quarter of 2005, CytRx reported a net loss of $3. All forward-looking statements are based upon
information available to CytRx on the date the statements are first published.07) $(0.

Research and Markets: Drug Discovery Efforts for the Most Prevalent Central Nervous System Diseases Meeting with Varied Success

epidemiology evaluative

Food and Drug Administration (FDA) for the
treatment of amyotrophic lateral sclerosis, also known as ALS or Lou Gehrig's
disease. This was substantially off-set during the first quarter of 2005 by our
increased support of research activities conducted by UMMS, increased research
and development activities occurring at CytRx Laboratories and preparatory
activities associated with our planned initiation of our Phase II clinical
trial for arimoclomol .
General and administrative expenses remained relatively unchanged at $1. DUBLIN, Ireland , Research and Markets
(http://www.

premenstrual channing

LOS ANGELES, CytRx Corporation
(Nasdaq: CYTR), a biopharmaceutical company engaged in the development and
commercialization of human therapeutics primarily in the area of small
molecules and ribonucleic acid interference (RNAi), today reported financial
results for the quarter ended March 31, 2005. The Company has a research program with
Massachusetts General Hospital, Harvard University's teaching hospital, to use
RNAi technology to develop a drug for the treatment of ALS.

immunobiology premenstrual

The HIV vaccine was developed by UMMS and ABL and
funded by a grant of approximately $16 million from the National
Institute of Allergy and Infectious Diseases part of the National
Institutes of Health.

premenstrual platelet

8 million, or $(0.7
million for the first quarters of 2005 and 2004. For more
information, visit CytRx's Web site at http://www. Drug discovery efforts for the most
prevalent CNS diseases have met with varying success; it is estimated that
billions of dollars are spent every year on prescription drug sales; however,
many current therapies merely treat the symptoms but do not provide cures.

epidemiology extramural

"Among our achievements, we completed a
financing that supports our planned entry into Phase II clinical trials with
our lead compound arimoclomol.

* UMMS investigators completed enrollment and began inoculating the final
group of volunteers in a Phase I clinical trial using a DNA-based HIV
vaccine technology.
The complexities of CNS diseases make this area a challenging but
potentially very rewarding area for research.

premenstrual characterize

* The Office of Orphan Products Development of the U.

extramural yaba

"This has been a very busy and productive period," said CytRx President
and CEO Steven A.11) per
share, for the comparable period in 2004.

Research and development (R+D) expenses were $1. The decline in R+D expenses relates to a $1.

* CytRx continued with plans to file an IND with the FDA during the
second quarter to its planned Phase II clinical trial using its
compound arimoclomol for the treatment of ALS.
CytRx also licensed from UMMS the rights to a DNA-based HIV vaccine technology
currently in a Phase I clinical trial.

postdoctoral platelet

(Logo: http://www. Novel tools and platforms, including animal models, molecular
imaging, and biomarkers, will also be covered.

postdoctoral translational

9 million in the first
quarter of 2005, compared with $2. The company also issued five year
warrants to purchase an additional 8,667,247 shares of common stock at
an exercise price of $2. Food and Drug
Administration (FDA) granted orphan drug status designation to the
Company's lead small molecule drug candidate, arimoclomol, for ALS. The Company expects to enter a Phase II
clinical trial with its lead orally-administered small molecule drug
candidate, arimoclomol , for the treatment of ALS (Lou Gehrig's disease).

Forward-Looking Statements
This press release may contain forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as amended,
that involve risks and uncertainties that could cause actual events or results
to differ materially from the events or results described in the forward-
looking statements , including risks or uncertainties related to the early
stage of CytRx's diabetes, obesity, CMV and ALS research, the need for future
clinical testing of any RNAi-based products and small molecules that may be
developed by CytRx, uncertainties regarding the scope of the clinical testing
that may be required by regulatory authorities for its molecular chaperone co-
induction drug candidates and other products and the outcomes of those tests,
the significant time and expense that will be incurred in developing any of
the potential commercial applications for CytRx's RNAi technology or small
molecules, CytRx's need for additional capital to fund its ongoing working
capital needs , including ongoing research and development expenses related to
its molecular chaperone co-induction drug candidates, risks relating to the
enforceability of any patents covering CytRx's products and to the possible
infringement of third party patents by those products, and the impact of third
party reimbursement policies on the use of and pricing for CytRx's products.

CytRx Corporation
Condensed Consolidated Balance Sheets
(unaudited)

March 31, December 31,
2005 2004

Cash and short-term investments $19,522,000 $3,000,000
Prepaids and other assets 631,000 1,000,000

Total Current assets 20,153,000 4,000,000

Non-current assets 1,152,000 1,049,000

Total assets $21,305,000 $5,049,000

Current Liabilities $2,457,000 $2,735,000
Non-current liabilities 514,000 548,000

Total liabilities 2,971,000 3,283,000
Minority interest 132,000 171,000

Shareholders equity 18,202,000 1,595,000

Total liabilities and stockholders'
equity $21,305,000 $5,049,000

Working capital $17,696,000 $1,265,000

CytRx Corporation
Condensed Consolidated Statement of Operations
(unaudited)

Quarter ended March 31,
2005 2004

Revenues $2,000 $100,000

Research and Development Expenses 1,914,000 2,262,000
General and administrative expenses 1,695,000 1,670,000

3,609,000 3,932,000

Loss before other income (3,607,000) (3,832,000)
Other income 81,000 58,000

Net loss $(3,526,000) $(3,774,000)

Loss per share of common stock $(0.com
Fax: +353 1 4100 980

virology harborview

During the first quarter of
2005, the Company expensed $239,000 of common stock, stock options and
warrants for general and administrative services compared with $454,000 for
the corresponding period in 2004.

About CytRx Corporation
CytRx Corporation is a biopharmaceutical research and development company
engaged in the development of products, primarily in the area of small
molecules and ribonucleic acid interference (RNAi), in a variety of
therapeutic categories.11)

Weighted average shares outstanding 53,325 ,092 34,215,007

choc immunobiology

S.0 million at December 31, 2004.