Citius Pharma(CTXR) - 2025 Q2 - Quarterly Results

Financial Performance - Citius Pharmaceuticals reported a net loss of $11.5 million, or ($1.27) per share, for the quarter ended March 31, 2025, compared to a net loss of $8.5 million, or ($1.34) per share, for the same quarter in 2024[13]. - The company incurred a net loss of $21.8 million for the six months ended March 31, 2025, compared to a net loss of $17.8 million for the same period in 2024[14]. - The net loss for the six months ended March 31, 2025, was $21,792,751, compared to a net loss of $17,775,339 for the same period in 2024, indicating a 22.5% increase in losses[21]. - The company reported a net loss per share of $(1.27) for the three months ended March 31, 2025, compared to $(1.34) for the same period in 2024[21]. Expenses - Research and Development (R&D) expenses were $3.8 million for the quarter ended March 31, 2025, an increase from $3.6 million for the same quarter in 2024[8]. - R&D expenses related to LYMPHIR increased to $5.3 million for the six months ended March 31, 2025, compared to $3.2 million for the same period in 2024[9]. - General and Administrative (G&A) expenses rose to $4.8 million for the quarter ended March 31, 2025, up from $4.3 million for the same quarter in 2024[11]. - For the three months ended March 31, 2025, the total operating expenses were $11,260,678, an increase from $10,970,201 in the same period of 2024, representing a 2.6% increase[21]. - Research and development expenses for the three months ended March 31, 2025, were $3,766,525, up from $3,605,898 in 2024, reflecting a 4.4% increase[21]. - The company recorded stock-based compensation expense of $5,226,855 for the six months ended March 31, 2025, compared to $6,136,577 in 2024, showing a decrease of 14.8%[24]. Cash and Capital - Citius Pharmaceuticals had $26,410 in cash and cash equivalents as of March 31, 2025, and will need to secure additional capital to support operations beyond May 2025[6]. - Cash and cash equivalents at the end of the period were $26,410, a significant decrease from $12,559,607 at the end of the same period in 2024[24]. - The net cash used in operating activities for the six months ended March 31, 2025, was $(9,265,328), an improvement from $(13,921,321) in 2024, indicating a 33.5% reduction in cash outflow[24]. - The company generated net proceeds from common stock offerings amounting to $6,039,858 during the six months ended March 31, 2025[24]. - The company completed a registered direct offering that generated net proceeds of approximately $1.735 million on April 2, 2025[5]. Assets and Financial Strategy - The total assets of Citius Pharmaceuticals as of March 31, 2025, were $121.48 million, compared to $116.65 million as of September 30, 2024[19]. - The company has retained Jefferies LLC as its exclusive financial advisor to evaluate strategic alternatives aimed at maximizing stockholder value[7]. - Citius Pharmaceuticals plans to continue funding Citius Oncology until adequate capital is raised or revenue is generated from LYMPHIR sales[7]. Other Income and Shares - The total other income for the three months ended March 31, 2025, was $13,413, a decrease from $2,570,047 in the same period of 2024[21]. - The weighted average common shares outstanding for the three months ended March 31, 2025, were 8,581,207, compared to 6,362,890 in 2024, reflecting a 34.8% increase[21].