CytRx Corp. said Wednesday that Matthew Natalizio quit as the company’s chief financial officer.

The Los Angeles-based biotech firm said that Mitchell Fogelman will replace Natalizio effective immediately. Natalizio is leaving the company to pursue other opportunities, CytRx said in a statement

Two weeks ago, CytRx announced that the CFO of its CytRx’s RXi Pharmaceuticals subsidiary also left the company to pursue other opportunities.

Shares in CytRx were down 4.4 percent, or 15 cents, to $3.25 in afternoon trading Wednesday on the Nasdaq.