Citius Pharma(US:CTXR)2024-12-27 22:10Financial Performance - Net loss increased to $39.4 million, or ($5.97) per share, for the year ended September 30, 2024, compared to $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), 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), compared to $(29,060,212) in the previous year[30] - Cash and cash equivalents decreased to $3.3 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 $15.3 million in the previous year[19] Stock-Based Compensation - Stock-based compensation expense rose to $11.8 million in FY 2024 from $6.6 million in FY 2023[1] - Stock-based compensation expense increased to $11.8 million for the full year ended September 30, 2024, from $6.6 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]