Citius Pharmaceuticals, Inc. Reports Fiscal First Quarter 2025 Financial Results and Provides Business Update

Core Insights - Citius Pharmaceuticals reported its business and financial results for the fiscal first quarter ended December 31, 2024, highlighting ongoing strategic initiatives and financial challenges [1][2][3] Business Highlights - The company is actively engaging with potential partners to enhance its pipeline and secure necessary financing for key programs [4] - Significant progress is being made in preparations for the anticipated launch of LYMPHIR™ in the first half of 2025, which is expected to create long-term value for shareholders [5] - Citius Pharma has received a new permanent J-code for LYMPHIR™, effective April 1, 2025, which will facilitate reimbursement for the therapy [8] Financial Highlights - As of December 31, 2024, the company had $1.1 million in cash and cash equivalents, down from $3.25 million at the end of the previous quarter [6][20] - The company raised $3 million from equity issuance during the quarter and an additional $3.5 million in January 2025 [7] - Research and Development (R&D) expenses decreased to $2.1 million from $2.6 million year-over-year, primarily due to the completion of certain clinical trials [8][9] - General and Administrative (G&A) expenses increased to $5.4 million from $3.7 million year-over-year, attributed to pre-launch activities for LYMPHIR [10] - The net loss for the quarter was $10.3 million, or ($1.30) per share, compared to a net loss of $9.2 million, or ($1.45) per share, in the same quarter of the previous year [12][18]