Product Launch and Market Potential - Citius Oncology launched LYMPHIR™, a novel immunotherapy, in the U.S. in December 2025 for treating adult patients with relapsed or refractory Stage I–III cutaneous T-cell lymphoma (CTCL) after at least one prior systemic therapy [3] - The initial market for LYMPHIR is estimated to exceed $400 million, indicating significant growth potential in an underserved market [5] - Citius Oncology secured access to LYMPHIR in 19 international markets through regional distribution partners via Named Patient Programs, marking a step in its global access strategy [6] - The company announced a collaboration with Verix to enhance commercial targeting and provider engagement for LYMPHIR's U.S. commercialization [6] Financial Performance - The net loss for the fiscal year ended September 30, 2025, was $24.8 million, or ($0.34) per share, compared to a net loss of $21.1 million, or ($0.31) per share, in 2024 [6] - Net loss for 2025 was $(24,761,369), compared to $(21,148,747) in 2024, indicating a worsening financial position [16] - Cash and cash equivalents stood at $3.9 million as of September 30, 2025, compared to $112 in 2024 [11] - Cash and cash equivalents at the end of 2025 were $3,924,908, a significant increase from $112 at the beginning of the year, indicating improved liquidity [16] Expenses and Costs - Research and development expenses increased to $6.4 million for the fiscal year ended September 30, 2025, up from $4.9 million in 2024 [6] - General and administrative expenses rose to $8.8 million for the fiscal year ended September 30, 2025, compared to $8.1 million in 2024 [6] - Stock-based compensation expense increased to $8,320,419 in 2025 from $7,498,817 in 2024, reflecting higher employee compensation costs [16] - License payments for 2025 totaled $(5,750,000), consistent with $(5,000,000) in 2024, reflecting ongoing investment in intellectual property [16] Cash Flow and Financing - Net cash used in operating activities was $(5,492,046) in 2025, a decline from a positive cash flow of $126,353 in 2024, indicating operational challenges [16] - Net cash provided by financing activities rose to $15,166,842 in 2025, up from $4,873,759 in 2024, showing increased capital raising efforts [16] - Interest paid in 2025 was $187,389, while no interest was reported in 2024, indicating new financing arrangements [16] Inventory and Assets - Citius Oncology's total assets increased to $100.9 million as of September 30, 2025, compared to $84.4 million in 2024 [11] - Inventory changes resulted in a significant increase of $(12,649,207) in 2025, compared to $(2,133,871) in 2024, suggesting potential overstock issues [16] - Net prepaid manufacturing transferred to inventory was $1,368,720 in 2025, down from $6,134,895 in 2024, indicating a shift in production strategy [16] - The company reported a capital contribution of due to related party by parent of $33,180,961 in 2024, which was not repeated in 2025 [16]
TenX Keane Acquisition(TENK) - 2025 Q3 - Quarterly Results