Cytogen, CytoRad Inc. deal

CYTO and its R&D spin-off resolved their buyout dispute, with the Princeton, N.J., companies agreeing in principle for CYTO to acquire the 4.25 million outstanding units of CYTDZ.

Under the proposed transaction, which is subject to shareholder approval, CYTDZ shareholders would exchange each unit for 1.5 shares of CYTO common stock; a warrant good through Jan. 31, 1997, to acquire one share of CYTO at $8; and a right to receive, under certain circumstances and at no additional cost, up to one-half share of CYTO common stock. ...