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Citius Pharma(CTXR) - 2024 Q4 - Annual Results
CTXRCitius Pharma(CTXR)2024-12-27 22:10

Financial Performance - Net loss increased to 39.4million,or(39.4 million, or (5.97) per share, for the year ended September 30, 2024, compared to 32.5million,or(32.5 million, or (5.57) per share, in the previous year[1][8] - Net loss for the year ended September 30, 2024, was (39,425,839),comparedto(39,425,839), compared to (32,542,912) in the previous year[30] - Net cash used in operating activities for the year ended September 30, 2024, was (28,201,375),comparedto(28,201,375), compared to (29,060,212) in the previous year[30] - Cash and cash equivalents decreased to 3.3millionasofSeptember30,2024,from3.3 million as of September 30, 2024, from 26.5 million in the previous year[16] - Cash and cash equivalents of 3.3 million as of September 30, 2024[19][32] Research and Development (R&D) - R&D expenses decreased to 11.9 million in FY 2024 from 14.8 million in FY 2023, primarily due to the completion of the Halo-Lido trial and LYMPHIR regulatory resubmission[7] - R&D expenses decreased to 11.9 million for the full year ended September 30, 2024, from 14.8 million in the previous year[19] - Research and development expenses are expected to decrease in fiscal year 2025 due to the commercialization of LYMPHIR and completion of the Phase 3 trial for Mino-Lok[22] General and Administrative (G&A) Expenses - G&A expenses increased to 18.2 million in FY 2024 from 15.3 million in FY 2023, driven by pre-launch and market research activities for LYMPHIR[12] - G&A expenses increased to 18.2 million for the full year ended September 30, 2024, from 15.3millioninthepreviousyear[19]Stock−BasedCompensation−Stock−basedcompensationexpenseroseto15.3 million in the previous year[19] Stock-Based Compensation - Stock-based compensation expense rose to 11.8 million in FY 2024 from 6.6millioninFY2023[1]−Stock−basedcompensationexpenseincreasedto6.6 million in FY 2023[1] - Stock-based compensation expense increased to 11.8 million for the full year ended September 30, 2024, from 6.6millioninthepreviousyear[23]ProductDevelopmentandApprovals−AchievedFDAapprovalforLYMPHIR™,animmunotherapyforrelapsedorrefractorycutaneousT−celllymphoma(CTCL)[1]−FDAapprovedLYMPHIR™inAugust2024forthetreatmentofcutaneousT−celllymphoma[21]−LYMPHIRisexpectedtolaunchinthefirsthalfof2025throughCitiusOncology,amajority−ownedsubsidiary[6]−MetprimaryandsecondaryendpointsinthePhase3PivotalTrialofMino−Lok,showingsignificantimprovementintimetocatheterfailure[18]−Mino−Lok®metprimaryandsecondaryendpointsinitsPhase3Trialcompletedin2023[21]CapitalandEquity−Thecompanyreceivednetproceedsof6.6 million in the previous year[23] Product Development and Approvals - Achieved FDA approval for LYMPHIR™, an immunotherapy for relapsed or refractory cutaneous T-cell lymphoma (CTCL)[1] - FDA approved LYMPHIR™ in August 2024 for the treatment of cutaneous T-cell lymphoma[21] - LYMPHIR is expected to launch in the first half of 2025 through Citius Oncology, a majority-owned subsidiary[6] - Met primary and secondary endpoints in the Phase 3 Pivotal Trial of Mino-Lok, showing significant improvement in time to catheter failure[18] - Mino-Lok® met primary and secondary endpoints in its Phase 3 Trial completed in 2023[21] Capital and Equity - The company received net proceeds of 13.8 million from equity issuance in FY 2024 and plans to raise additional capital[3] - The company completed a 1-for-25 reverse stock split on November 25, 2024, resulting in 7,247,243 common shares outstanding[3] - License payment of $5,000,000 was made in the year ended September 30, 2024[30]