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Citius Pharma(CTXR) - 2024 Q3 - Quarterly Results
2024-08-12 21:25
FDA Approval and Product Development - FDA approved LYMPHIR™ for the treatment of cutaneous T-cell lymphoma, marking the first FDA-approved product in the company's portfolio[1][3] - Achieved primary and secondary endpoints in Phase 3 Pivotal Trial of Mino-Lok, designed to salvage central venous catheters in patients with catheter-related bloodstream infections[1] - Citius Oncology is expected to transition from a development stage company to a commercial biopharmaceutical organization following the FDA approval of LYMPHIR[3] Financial Performance and Expenses - Cash and cash equivalents of $17.9 million as of June 30, 2024, with $15 million raised in a registered direct offering extending cash runway through December 2024[2][5] - R&D expenses decreased to $2.8 million for Q3 2024 from $3.8 million in Q3 2023, primarily due to completion of Mino-Lok Phase 3 trial and Halo-Lido Phase 2b trial[6] - G&A expenses increased to $4.8 million for Q3 2024 from $3.7 million in Q3 2023, driven by pre-launch and market research activities for LYMPHIR[8] - Stock-based compensation expense rose to $3.1 million for Q3 2024 from $1.2 million in Q3 2023, primarily due to the Citius Oncology stock plan[9] - Net loss increased to $10.6 million for Q3 2024 from $8.5 million in Q3 2023, driven by higher G&A and stock-based compensation expenses[10] - Total assets decreased from $103.61 million as of September 30, 2023, to $97.09 million as of June 30, 2024[14] - Net loss for the nine months ended June 30, 2024, was $28.35 million, compared to $22.60 million for the same period in 2023[16] - Research and development expenses decreased from $11.94 million for the nine months ended June 30, 2023, to $8.99 million for the same period in 2024[16] - General and administrative expenses increased from $11.13 million for the nine months ended June 30, 2023, to $12.76 million for the same period in 2024[16] - Stock-based compensation expense increased from $3.54 million for the nine months ended June 30, 2023, to $9.20 million for the same period in 2024[16] - Net cash used in operating activities was $22.29 million for the nine months ended June 30, 2024, compared to $22.26 million for the same period in 2023[17] - Net proceeds from registered direct offering were $13.72 million for the nine months ended June 30, 2024[17] - Cash and cash equivalents decreased from $26.48 million as of September 30, 2023, to $17.91 million as of June 30, 2024[14] - In-process research and development remained constant at $59.40 million as of June 30, 2024, and September 30, 2023[14] - Total liabilities decreased from $12.18 million as of September 30, 2023, to $10.81 million as of June 30, 2024[14] Corporate Strategy and Capital Allocation - Completed merger with TenX Keane to form Citius Oncology, Inc., expected to begin trading on Nasdaq under ticker CTOR on August 13, 2024[1] - The company is evaluating opportunities to optimize capital allocation, cash runway, and potential non-dilutive sources of capital for future growth[4]
Citius Pharma(CTXR) - 2024 Q3 - Quarterly Report
2024-08-12 20:51
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Nevada 27-3425913 (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common stock, $0.001 par value CTXR Nasdaq Capital Market FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2024 OR ☐ TRANSITION REPORT PURSUAN ...
Citius Pharmaceuticals Completes Merger of Subsidiary with TenX Keane to form Citius Oncology, Inc.
Prnewswire· 2024-08-12 20:22
LYMPHIR™ for the treatment of cutaneous T-cell lymphoma approved by the FDA Citius Pharmaceuticals, Inc. holds approximately 90% of publicly traded Citius Oncology, Inc. Shares of Citius Oncology, Inc. anticipated to begin trading on Nasdaq under the ticker "CTOR" on August 13, 2024 CRANFORD, N.J., Aug. 12, 2024 /PRNewswire/ -- Citius Pharmaceuticals, Inc. ("Citius Pharma" or the "Company") (Nasdaq: CTXR), a late-stage biopharmaceutical company dedicated to the development and commercialization of first-in- ...
Citius Pharmaceuticals to Host Investor Call to Discuss Recent and Upcoming Developments
Prnewswire· 2024-08-12 12:00
Management call scheduled for Tuesday, August 13, 2024, at 8:30 AM ET CRANFORD, N.J., Aug. 12, 2024 /PRNewswire/ -- Citius Pharmaceuticals, Inc. ("Citius Pharma" or the "Company") (Nasdaq: CTXR), today announced that it will host an investor call on Tuesday, August 13, 2024 at 8:30 am ET to discuss recent and upcoming developments. Citius Chairman and CEO, Leonard Mazur, will be joined by members of the management team. A question and answer period will follow management's discussion. Conference Call Detail ...
TenX Keane Acquisition Shareholders Approve Previously Announced Merger to Form Citius Oncology, Inc., a Publicly Listed Subsidiary of Citius Pharmaceuticals
Newsfilter· 2024-08-05 12:00
TenX Keane shareholders voted to approve the previously announced merger with Citius Oncology at an extraordinary general meeting held on August 2, 2024 Post-merger company expected to trade on Nasdaq as Citius Oncology, Inc. Transaction expected to support commercialization of LYMPHIR, if approved, and exploration of additional oncology assets New York, NY, Aug. 05, 2024 (GLOBE NEWSWIRE) -- TenX Keane Acquisition (NASDAQ:TENKU, TENK, TENKR))) (the "TenX"), a publicly traded special purpose acquisition comp ...
Citius Pharmaceuticals Announces TenX Keane Shareholder Approval of Merger with Citius Oncology, Inc.
Prnewswire· 2024-08-05 12:00
Citius Pharmaceuticals to receive 65.6 million shares of TenX Keane, which will be renamed Citius Oncology, Inc. Citius Pharmaceuticals to retain approximately 90% majority control post transaction Post-merger company expected to trade on Nasdaq as Citius Oncology, Inc. Transaction expected to support commercialization of LYMPHIR, if approved, and exploration of additional oncology assets CRANFORD, N.J., Aug. 5, 2024 /PRNewswire/ -- Citius Pharmaceuticals, Inc. ("Citius Pharma" or the "Company") (Nasdaq: CT ...
Biotech Stocks Race Towards Solutions for Cutaneous T-Cell Lymphoma (CTCL)
Newsfile· 2024-07-18 11:00
Vancouver, Kelowna, and Delta, British Columbia--(Newsfile Corp. - July 18, 2024) - Investorideas.com, a goto investing platform releases the second of a two-part series looking at biotech/biopharma stocks, featuring Citius Pharmaceuticals, Inc. (NASDAQ: CTXR), a late-stage biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products. The Company's diversified pipeline includes two late-stage product candidates. Read the full article on Investorideas. ...
Analysts Hunt for Undervalued Biotech Stocks
Newsfile· 2024-07-17 12:00
Vancouver, Kelowna, and Delta, British Columbia--(Newsfile Corp. - July 17, 2024) - Investorideas.com, a goto investing platform releases the first of a two-part series looking at biotech/biopharma stocks, featuring Citius Pharmaceuticals, Inc. (NASDAQ: CTXR), a late-stage biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products. The Company's diversified pipeline includes two late-stage product candidates. Read the full article on Investorideas.c ...
Bloodstream Infections - From Threats to Solutions
Newsfile· 2024-07-11 15:00
Vancouver, Kelowna, and Delta, British Columbia--(Newsfile Corp. - July 11, 2024) - Investorideas.com, a goto investing platform releases the second of a two-part series looking at recent news and developments in the blood infections treatment market, featuring Citius Pharmaceuticals, Inc. (NASDAQ: CTXR), a late-stage biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products. The Company's diversified pipeline includes two late-stage product candid ...
Biopharma Stocks Transformative Innovation for the Future of Health
Newsfile· 2024-07-11 12:00
Citius Pharmaceuticals, Inc. (NASDAQ: CTXR) just announced expected milestones in the second half of calendar 2024 and recapped key achievements year-to-date. Mino-Lok: Citius recently announced positive topline data from the Phase 3 study of Mino-Lok® in catheterrelated bloodstream infections (CRBSIs). Primary and secondary endpoints were met with statistical significance. In addition to the initial indication, two investigator-initiated Phase 1 studies of LYMPHIR are underway to explore how the differenti ...