Compensation expenses resulting from new accounting standards widened losses for CytRx Corp., the Los Angeles-based drug developer said Tuesday.

In the first quarter, the company, which has several experimental drugs under study, lost $4.2 million, or 7 cents a share, compared to losses of $3.5 million, or 7 cents a share, a year ago. Quarterly revenues were $60,830, up from $1,500 a year earlier.

This quarter was the first since CytRx adopted the Statement of Financial Accounting Standards No. 123R, which resulted in a $345,000 stock-based compensation expense. The year-ago quarter’s results are not under SFAS 123R.