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Citius Pharmaceuticals, Inc. Secures $3.8 million through New Jersey Economic Development Program
Prnewswire· 2026-02-24 13:00
Core Viewpoint - Citius Pharmaceuticals, Inc. has secured $3.8 million in non-dilutive capital through New Jersey's Technology Business Tax Certificate Transfer Program, enhancing its financial flexibility and supporting its strategic initiatives, including the commercial launch of LYMPHIR and advancing its late-stage pipeline programs [1]. Group 1: Financial Support and Strategy - The funding received from the New Jersey Economic Development Authority (NJEDA) allows Citius Pharma to convert net operating losses into cash, which can be used for various expenditures [1]. - The company emphasizes disciplined capital allocation to drive long-term shareholder value while advancing critical therapies for patients [1]. Group 2: Product Development and Pipeline - Citius Pharma's late-stage pipeline includes Mino-Lok®, a solution for catheter-related bloodstream infections, and CITI-002 (Halo-Lido), a topical formulation for hemorrhoid relief [1]. - The pivotal Phase 3 trial for Mino-Lok was completed in 2023, meeting both primary and secondary endpoints, and the company is actively engaging with the FDA for next steps [1].