Financial Performance - Citius Oncology reported no revenues for the three months ended June 30, 2025, and 2024[84]. - The net loss for the three months ended June 30, 2025, was $5,369,956, an increase of 12.5% from a net loss of $4,772,850 in the same period of 2024[92]. - The net loss for the nine months ended June 30, 2025, was $19,764,713, an increase of $5,428,914 from a net loss of $14,335,799 in the prior year[100]. - As of June 30, 2025, the company had an accumulated deficit of $59,043,300 and a negative working capital of approximately $34.7 million[102]. Expenses - Research and development expenses for the three months ended June 30, 2025, were $938,277, a decrease of 17% from $1,131,439 in the same period of 2024[87]. - General and administrative expenses increased by 22% to $1,881,447 for the three months ended June 30, 2025, compared to $1,540,411 for the same period in 2024[88]. - For the nine months ended June 30, 2025, research and development expenses rose to $5,342,198, up 47% from $3,628,900 in the same period of 2024[95]. - The total operating expenses for the nine months ended June 30, 2025, were $18,811,238, an increase of 35% from $13,903,799 in the same period of 2024[93]. - For the nine months ended June 30, 2025, general and administrative expenses increased by $3,002,854 to $7,446,753 compared to $4,443,899 for the same period in 2024[96]. - Interest expense for the nine months ended June 30, 2025, was $160,755, compared to $0 for the same period in 2024[90]. - The company incurred interest expense of $160,755 for the nine months ended June 30, 2025, compared to $0 for the same period in 2024[98]. - Deferred income tax expense increased to $792,720 for the nine months ended June 30, 2025, from $432,000 in the prior year[99]. Agreements and Commitments - Citius Oncology entered into a distribution services agreement with Cardinal Health on June 9, 2025, to support the anticipated U.S. commercial launch of LYMPHIR[84]. - The company has a total minimum purchase commitment of approximately $18.3 million under a manufacturing agreement for 2025 and 2026[108]. - The company has outstanding milestone payments totaling $2,535,318 due to Eisai, with additional payments scheduled through December 2025[103]. - As of June 30, 2025, a milestone payment of $22.5 million remains due to Dr. Reddy's following the FDA approval of LYMPHIR[76]. Funding and Revenue Generation - Citius Pharma received net proceeds of approximately $10.5 million from equity offerings during the three months ended June 30, 2025[105]. - A public offering completed on July 17, 2025, raised gross proceeds of $9,000,000, with net proceeds of approximately $7.44 million after expenses[106]. - The company plans to rely on funding from Citius Pharma and aims to generate revenue from future sales of LYMPHIR[104]. Commercial Launch Preparations - The company is nearing completion of preparations for the commercial launch of LYMPHIR, expected in the second half of 2025[85].
TenX Keane Acquisition(TENK) - 2025 Q2 - Quarterly Report