Citius Pharmaceuticals, Inc. Announces 1-for-25 Reverse Stock Split

Core Viewpoint - Citius Pharmaceuticals, Inc. is executing a reverse stock split at a ratio of 1-for-25 to increase its common stock price and regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will take effect on November 25, 2024, at 5:00 pm Eastern Time, with trading on a split-adjusted basis starting November 26, 2024 [1][2]. - The number of authorized shares will decrease from 400 million to 16 million, while the issued and outstanding shares will reduce from approximately 193 million to about 7.7 million [4]. - Every 25 shares will be combined into one share, with no fractional shares issued; any resulting fractional shares will be rounded up to the nearest whole share [3][4]. Group 2: Impact on Stock Options and Warrants - The reverse stock split will also apply to the common stock issuable upon the exercise of outstanding warrants and stock options, with proportional adjustments to exercise prices [5]. Group 3: Company Overview - Citius Pharmaceuticals is focused on developing first-in-class critical care products, with recent FDA approval for LYMPHIR™, an immunotherapy for cutaneous T-cell lymphoma [7]. - The company has a late-stage pipeline that includes Mino-Lok®, an antibiotic lock solution, and CITI-002 (Halo-Lido), a topical formulation for hemorrhoids [7].