Citius Pharma(CTXR)

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Citius Pharma(CTXR) - 2022 Q4 - Annual Report
2022-12-22 21:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, par value $0.001 per share CTXR The NASDAQ Capital Market FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-38174 Citius Pharmaceuticals ...
Citius Pharma(CTXR) - 2022 Q3 - Quarterly Report
2022-08-11 20:26
PART I. FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20%28Unaudited%29) Unaudited financial statements for June 30, 2022, show a **$25.6 million** net loss and **$48.0 million** cash, driven by increased R&D [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2022, total assets decreased to **$120.3 million**, and total equity declined to **$110.3 million** Condensed Consolidated Balance Sheet Highlights (Unaudited) | Balance Sheet Item | June 30, 2022 | September 30, 2021 | | :--- | :--- | :--- | | Cash and cash equivalents | $48,044,194 | $70,072,946 | | Total Current Assets | $50,834,513 | $72,814,350 | | Total Assets | $120,315,795 | $142,429,059 | | Total Current Liabilities | $4,461,122 | $3,982,292 | | Total Liabilities | $9,979,805 | $9,646,326 | | Total Equity | $110,335,990 | $132,782,733 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the nine months ended June 30, 2022, the company reported a **$25.6 million** net loss, driven by increased R&D Statement of Operations Summary (Unaudited) | Metric | Nine Months Ended June 30, 2022 | Nine Months Ended June 30, 2021 | | :--- | :--- | :--- | | Revenues | $0 | $0 | | Research and development | $13,798,251 | $9,946,268 | | General and administrative | $9,038,949 | $7,389,269 | | Stock-based compensation | $2,929,279 | $993,114 | | **Operating Loss** | **($25,766,479)** | **($18,328,651)** | | **Net Loss** | **($25,649,906)** | **($18,093,349)** | | **Net Loss Per Share** | **($0.18)** | **($0.20)** | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was **$22.0 million**, ending the period with **$48.0 million** in cash Cash Flow Summary (Unaudited) | Cash Flow Activity | Nine Months Ended June 30, 2022 | Nine Months Ended June 30, 2021 | | :--- | :--- | :--- | | Net Cash Used In Operating Activities | ($22,028,752) | ($18,659,384) | | Net Cash Used In Investing Activities | $0 | ($6,938) | | Net Cash Provided By Financing Activities | $0 | $120,470,550 | | **Net Change in Cash** | **($22,028,752)** | **$101,804,228** | | **Cash at End of Period** | **$48,044,194** | **$115,663,976** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the company's critical care product focus, liquidity, and key license agreements - The company is a specialty pharmaceutical firm focused on anti-infective products in adjunct cancer care, prescription products, and stem cell therapy. Key assets include IPR&D for Mino-Lok (**$19.4M**) and I/ONTAK (**$40M**)[26](index=26&type=chunk)[29](index=29&type=chunk) - The company has sufficient cash to fund operations through August 2023. Continued operations beyond this date depend on raising additional capital or generating revenue from product approvals (Mino-Lok or I/ONTAK)[39](index=39&type=chunk)[40](index=40&type=chunk) - The company has several key license agreements: Mino-Lok with NAT, Mino-Wrap with the University of Texas, a cellular therapy via its subsidiary NoveCite with Novellus (now Brooklyn ImmunoTherapeutics), and I/ONTAK via an agreement with Dr. Reddy's/Eisai[42](index=42&type=chunk)[45](index=45&type=chunk)[50](index=50&type=chunk) - As of June 30, 2022, the company has reserved **53,299,589 shares** of common stock for future issuances related to outstanding stock options (**9.4M**), available stock plan grants (**3.9M**), and outstanding warrants (**40.0M**)[90](index=90&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=18&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the increased net loss to higher R&D and G&A expenses, with working capital sufficient until August 2023 - The company is a late-stage biopharmaceutical firm focused on critical care products, including Mino-Lok, Mino-Wrap, Halo-Lido, I/ONTAK, and a cellular therapy for ARDS through its subsidiary NoveCite[101](index=101&type=chunk)[104](index=104&type=chunk)[105](index=105&type=chunk) Comparison of Operating Results (Three Months Ended June 30) | Expense Category | 2022 | 2021 | Change | | :--- | :--- | :--- | :--- | | Research & Development | $4,888,192 | $2,203,748 | +$2,684,444 | | General & Administrative | $3,024,783 | $3,407,088 | -$382,305 | | Stock-based Compensation | $1,003,677 | $373,570 | +$630,107 | | **Net Loss** | **($8,863,632)** | **($5,824,008)** | **+$3,039,624** | Comparison of Operating Results (Nine Months Ended June 30) | Expense Category | 2022 | 2021 | Change | | :--- | :--- | :--- | :--- | | Research & Development | $13,798,251 | $9,946,268 | +$3,851,983 | | General & Administrative | $9,038,949 | $7,389,269 | +$1,649,680 | | Stock-based Compensation | $2,929,279 | $993,114 | +$1,936,165 | | **Net Loss** | **($25,649,906)** | **($18,093,349)** | **+$7,556,557** | - The increase in R&D expenses is primarily due to costs for the I/ONTAK product candidate (**$6.5M** for nine months), start-up costs for the Halo-Lido Phase 2b trial, and expansion of the Mino-Lok Phase 3 trial[133](index=133&type=chunk)[134](index=134&type=chunk)[136](index=136&type=chunk) - With working capital of approximately **$46.4 million** and cash of **$48.0 million** at June 30, 2022, the company projects it has sufficient funds for operations through August 2023[147](index=147&type=chunk)[148](index=148&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=24&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This section is not applicable to the company - Not applicable[154](index=154&type=chunk) [Controls and Procedures](index=24&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of June 30, 2022, with no material internal control changes - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective as of June 30, 2022[156](index=156&type=chunk) - No changes in internal control over financial reporting occurred during the quarter ended June 30, 2022, that have materially affected, or are reasonably likely to materially affect, internal controls[157](index=157&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=25&type=section&id=Item%201.%20Legal%20Proceedings) The company reports no legal proceedings - None[160](index=160&type=chunk) [Risk Factors](index=25&type=section&id=Item%201A.%20Risk%20Factors) There have been no changes to the company's risk factors since its Form 10-K filed on December 15, 2021 - There has been no change in the Company's risk factors since the Form 10-K filed with the SEC on December 15, 2021[161](index=161&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=25&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered sales of equity securities - None[162](index=162&type=chunk) [Other Information](index=25&type=section&id=Item%205.%20Other%20Information) The company reports no other information - None[165](index=165&type=chunk) [Exhibits](index=26&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the report, including officer certifications and Inline XBRL data files - The report includes certifications from the Principal Executive Officer and Principal Financial Officer, as well as Inline XBRL documents[167](index=167&type=chunk)
Citius Pharma(CTXR) - 2022 Q2 - Quarterly Report
2022-05-12 20:31
U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number 001-38174 Citius Pharmaceuticals, Inc. (Exact name of registrant as specified in its charter) | --- | --- | |------- ...
Citius Pharma(CTXR) - 2022 Q1 - Quarterly Report
2022-02-10 21:15
U.S. 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 Warrants to purchase common stock CTXRW Nasdaq Capital Market FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ende ...
Citius Pharma(CTXR) - 2021 Q4 - Annual Report
2021-12-15 21:31
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, par value $0.001 per share CTXR The NASDAQ Capital Market Warrants to purchase Common Stock CTXRW The NASDAQ Capital Market Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☐ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 F ...
Citius Pharma(CTXR) - 2021 Q3 - Quarterly Report
2021-08-12 20:39
U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number 001-38174 Citius Pharmaceuticals, Inc. (Exact name of registrant as specified in its charter) | --- | --- | |-------- ...
Citius Pharma(CTXR) - 2021 Q2 - Quarterly Report
2021-05-13 12:15
U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File Number 001-38174 Citius Pharmaceuticals, Inc. (Exact name of registrant as specified in its charter) | --- | --- | |------- ...
Citius Pharma(CTXR) - 2021 Q1 - Quarterly Report
2021-02-11 21:05
U.S. 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 Warrants to purchase common stock CTXRW Nasdaq Capital Market Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☐ FORM 10-Q ...
Citius Pharma(CTXR) - 2020 Q4 - Annual Report
2020-12-16 21:05
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, par value $0.001 per share CTXR The NASDAQ Capital Market Warrants to purchase Common Stock CTXRW The NASDAQ Capital Market FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE A ...
Citius Pharma(CTXR) - 2020 Q3 - Quarterly Report
2020-08-14 21:12
U.S. 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 Warrants to purchase common stock CTXRW Nasdaq Capital Market Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☐ FORM 10-Q ...