Citius Pharmaceuticals (NASDAQ: CTXR) Reports Fiscal Full Year 2024 Financial Results and Provides Business Update

On December 27, 2024, Citius Pharmaceuticals, Inc. (NASDAQ: CTXR), a biopharmaceutical company specializing in critical care products, unveiled its financial results for the fiscal full year ending September 30, 2024. The company highlighted significant achievements and developments during the period leading to expectations of future growth and value.

In the year, Citius Pharmaceuticals reached a milestone with the U.S. Food and Drug Administration (FDA) approval of LYMPHIR™, an immunotherapy designed for adults with relapsed or refractory cutaneous T-cell lymphoma (CTCL). Additionally, the company focused on the operational aspects including manufacturing, marketing, and sales activities to prepare for the commercial launch of LYMPHIR set for the first half of 2025.

Furthermore, a significant event during the year was the merger of Citius Pharma’s oncology subsidiary with TenX Keane, forming Citius Oncology, Inc., which began trading as a standalone entity on the Nasdaq exchange under the ticker symbol CTOR on August 13, 2024. Research endeavors during the period included supporting investigator-initiated trials exploring LYMPHIR’s potential as an immuno-oncology combination therapy at esteemed institutions like the University of Pittsburgh Medical Center and the University of Minnesota.

In the financial realm, Citius Pharmaceuticals reported having cash and cash equivalents amounting to $3.3 million as of September 30, 2024. Research and Development (R&D) expenses for the full year were noted at $11.9 million, showcasing a decrease from the previous fiscal year. General and Administrative (G&A) expenses, on the other hand, increased to $18.2 million from $15.3 million compared to the previous year. Stock-based compensation expenses stood at $11.8 million for the fiscal year ending September 30, 2024.

Leonard Mazur, the Chairman and CEO of Citius Pharma, expressed optimism and highlighted the company’s commitment to innovation in therapies. Looking ahead to 2025, the company aims to launch LYMPHIR through Citius Oncology, further develop clinical and regulatory strategies for Mino-Lok®, fortify its financial standing, and allocate resources efficiently.

The full extent of Citius Pharmaceuticals’ financial details and operational progress can be explored in their recently released financial statements and SEC filing.

For more detailed financial information and future developments, interested parties are encouraged to visit the official Citius Pharmaceuticals website at www.citiuspharma.com.

This press release may contain forward-looking statements based on current expectations, which are subject to risk and uncertainty. The company urges caution in relying solely on these forward-looking statements, encouraging readers to review SEC filings for detailed risks and disclosures.

For further information, investors can contact Ilanit Allen at [email protected] or by calling 908-967-6677 x113. Media inquiries can be directed to Greg Salsburg at STiR-communications.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Citius Pharmaceuticals’s 8K filing here.

Citius Pharmaceuticals Company Profile

Citius Pharmaceuticals, Inc, a late-stage pharmaceutical company, engages in the development and commercialization of critical care products focusing on oncology products, anti-infectives products in adjunct cancer care, prescription products, and stem cell therapy. It is developing five proprietary products comprising LYMPHIR, an engineered IL-2 diphtheria toxin fusion protein for the treatment of patients with persistent or recurrent cutaneous T-cell lymphoma, which is in Phase 3 clinical trial; Mino-Lok, an antibiotic lock solution to treat patients with catheter-related bloodstream infections by salvaging the infected catheter, which is in Phase 3 clinical trial; Halo-Lido, a corticosteroid-lidocaine topical formulation that intends to provide anti-inflammatory and anesthetic relief to persons suffering from hemorrhoids that is in clinical Phase 2b trial; Mino-Wrap, a liquifying gel-based wrap for reduction of tissue expander infections following breast reconstructive surgeries; and NoveCite, a mesenchymal stem cell therapy for the treatment of acute respiratory disease syndrome.