Citius Pharmaceuticals, Inc. Reports Fiscal Third Quarter 2025 Financial Results and Provides Business Update
$12.5 million in gross financings raised during the quarter, with an additional $9 million raised by Citius Oncology in July 2025, to facilitate LYMPHIR pre-launch initiatives and drive successful market introduction
CRANFORD, N.J., Aug. 12, 2025 /PRNewswire/ -- Citius Pharmaceuticals, Inc. ("Citius Pharma" or the "Company") (Nasdaq: CTXR), a late-stage biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products, today reported financial results for its fiscal third quarter ended June 30, 2025, and provided a business update.
"During the third quarter, Citius advanced its strategic priorities, and we believe we are now operationally positioned to transition from a development-stage enterprise to a fully integrated commercial organization. Final preparations are underway by our oncology subsidiary for the planned U.S. launch of LYMPHIR(TM) in the fourth quarter of 2025," said Leonard Mazur, Chairman and CEO of Citius Pharmaceuticals.
"In June 2025, we completed a $6 million registered direct offering, with the potential for an additional $9.8 million upon full warrant exercise, to fund commercialization activities and corporate operations. In July 2025, Citius Oncology further strengthened its capital position with $9 million in gross proceeds from a public offering. These financings, any proceeds we might receive from exercise of the June 2025 warrants and other capital raising activities during the quarter, together with the completion of major launch-enabling activities including commercial-scale manufacturing, labeling, packaging, and distribution services agreements with leading specialty pharmaceutical partners indicate we are well-prepared to deliver LYMPHIR to patients with cutaneous T-cell lymphoma, an underserved population in need of new treatment options. At the same time, we remain focused on advancing Mino-Lok and continue to engage with the U.S. Food and Drug Administration as we evaluate the best path forward for this potentially transformative antibiotic lock solutions for patients with catheter-related bloodstream infections," added Mazur.
FISCAL THIRD QUARTER 2025 FINANCIAL RESULTS:
-- R&D expenses were $1.6 million for the quarter ended June 30, 2025, compared to $2.8 million for the quarter ended June 30, 2024; -- G&A expenses were $4.4 million for the quarter ended June 30, 2025, as compared to $4.8 million for the quarter ended June 30, 2024; -- Stock-based compensation expense was $2.7 million for the quarter ended June 30, 2025, as compared to $3.1 million for the quarter ended June 30, 2024; -- Net loss was $9.2 million, or ($0.80) per share, for the quarter ended June 30, 2025, as compared to a net loss of $10.6 million, or ($1.57) per share, for the quarter ended June 30, 2024, as adjusted for the reverse stock split; -- At June 30, 2025, Citius Pharma had cash and cash equivalents of $6.1 million available to fund its operations. During the nine months ended June 30, 2025, the Company received net proceeds of $16.5 million from the issuance of equity and $1 million from the issuance of a note payable; and, -- On July 17, 2025, Citius Oncology completed a public offering generating net proceeds of approximately $7.4 million, after deducting placement agent fees and other offering expenses.
For a complete discussion of our financial results, please refer to our Quarterly Report on Form 10-Q for the period ended June 30, 2025, filed today with the SEC and available at www.sec.gov.
About Citius Pharmaceuticals, Inc.
Citius Pharma is a biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products. In August 2024, the FDA approved LYMPHIR(TM), a targeted immunotherapy for an initial indication in the treatment of cutaneous T-cell lymphoma. Citius Pharma's late-stage pipeline also includes Mino-Lok®, an antibiotic lock solution to salvage catheters in patients with catheter-related bloodstream infections, and CITI-002 (Halo-Lido), a topical formulation for the relief of hemorrhoids. A Pivotal Phase 3 Trial for Mino-Lok and a Phase 2b trial for Halo-Lido were completed in 2023. Mino-Lok met primary and secondary endpoints of its Phase 3 Trial. Citius Pharma is actively engaged with the FDA to outline next steps for both programs. Citius Pharma owns 84% of Citius Oncology. For more information, please visit www.citiuspharma.com.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are made based on our expectations and beliefs concerning future events impacting Citius Pharma. You can identify these statements by the fact that they use words such as "will," "anticipate," "estimate," "expect," "plan," "should," and "may" and other words and terms of similar meaning or use of future dates. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated, and, unless noted otherwise, that apply to Citius Pharma are: our need for substantial additional funds and our ability to raise additional money to fund our operations beyond September 2025 and for at least the next 12 months as a going concern; our ability to commercialize LYMPHIR, including covering the costs of licensing payments, product manufacturing and other third-party goods and services, through our majority-owned subsidiary and any of our other product candidates that may be approved by the FDA; our ability to maintain compliance with Nasdaq's continued listing standards; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; the estimated markets for our product candidates and the acceptance thereof by any market; the ability of our product candidates to impact the quality of life of our target patient populations; risks related to research using our assets but conducted by third parties; risks relating to the results of research and development activities, including those from our existing and any new pipeline assets; our dependence on third-party suppliers; our ability to procure cGMP commercial-scale supply; uncertainties relating to preclinical and clinical testing; the early stage of products under development; market, economic and other conditions; risks related to our growth strategy; patent and intellectual property matters; our ability to identify, acquire, close and integrate product candidates and companies successfully and on a timely basis; government regulation; competition; as well as other risks described in our Securities and Exchange Commission ("SEC") filings. These risks have been and may be further impacted by any future public health risks. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements. Risks regarding our business are described in detail in our SEC filings which are available on the SEC's website at www.sec.gov, including in Citius Pharma's Annual Report on Form 10-K for the year ended September 30, 2024, filed with the SEC on December 27, 2024, as amended on January 27, 2025, Citius Pharma's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, filed with the SEC on August 12, 2025, and as updated by our subsequent filings with the SEC. These forward-looking statements speak only as of the date hereof, and we expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
Investor Contact:
Ilanit Allen
ir@citiuspharma.com
908-967-6677 x113
Media Contact:
STiR-communications
Greg Salsburg
Greg@STiR-communications.com
-- Financial Tables Follow -
CITIUS PHARMACEUTICALS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
June 30, September 30,
2025 2024
ASSETS
Current Assets:
Cash and cash equivalents $
6,089,126 $
3,251,880
Inventory 17,208,967 8,268,766
Prepaid expenses 1,313,176 2,700,000
Total Current Assets 24,611,269 14,220,646
Operating lease right-of-use asset, net 880,732 246,247
Deposits 38,062 38,062
In-process research and development 92,800,000 92,800,000
Goodwill 9,346,796 9,346,796
Total Other Assets 102,184,858 102,184,858
Total Assets $
127,676,859 $
116,651,751
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable $
10,094,042 $
4,927,211
License payable 28,400,000 28,400,000
Accrued expenses 8,523,675 17,027
Accrued compensation 3,710,041 2,229,018
Note payable 1,000,000
Operating lease liability 114,694 241,547
Total Current Liabilities 51,842,452 35,814,803
Deferred tax liability 7,506,520 6,713,800
Operating lease liability - noncurrent 766,957 21,318
Total Liabilities 60,115,929 42,549,921
Commitments and Contingencies
Stockholders' Equity:
Preferred stock - $0.001 par value; 10,000,000 shares authorized; no shares issued
and outstanding
Common stock - $0.001 par value; 250,000,000 and 16,000,000 shares authorized; 14,475 7,247
14,475,029 and 7,247,243 shares issued and outstanding at June 30, 2025 and
September 30, 2024, respectively
Additional paid-in capital 295,888,916 271,440,421
Accumulated deficit (230,844,841) (201,370,218)
Total Citius Pharmaceuticals, Inc. Stockholders' Equity 65,058,550 70,077,450
Non-controlling interest 2,502,380 4,024,380
Total Equity 67,560,930 74,101,830
Total Liabilities and Equity $
127,676,859 $
116,651,751
Reflects a 1-for-25 reverse stock split effective November 25, 2024.
CITIUS PHARMACEUTICALS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE AND NINE MONTHS ENDED JUNE 30, 2025 AND 2024
(Unaudited)
Three Months Ended Nine Months Ended
June 30, June 30, June 30, June 30,
2025 2024 2025 2024
Revenues
$
$
$
$
Operating Expenses
Research and development 1,621,325 2,763,865 7,514,888 8,991,673
General and administrative 4,447,008 4,808,551 14,626,882 12,755,190
Stock-based compensation - general and administrative 2,719,674 3,061,763 7,946,529 9,198,340
Total Operating Expenses 8,788,007 10,634,179 30,088,299 30,945,203
Operating Loss (8,788,007) (10,634,179) (30,088,299) (30,945,203)
Other Income (Expense)
Interest income 20,637 204,843 56,658 640,686
Gain on sale of New Jersey net operating losses 2,387,842
Interest expense (172,262) (172,262)
Total Other Income (Expense) (151,625) 204,843 (115,604) 3,028,528
Loss before Income Taxes (8,939,632) (10,429,336) (30,203,903) (27,916,675)
Income tax expense 264,240 144,000 792,720 432,000
Net Loss (9,203,872) (10,573,336) (30,996,623) (28,348,675)
Deemed dividend on warrant extension 321,559 321,559
Net loss attributable to non-controlling interest 414,000 1,522,000
Net loss applicable to common stockholders $
(8,789,872) $
(10,894,895) $
(29,474,623) $
(28,670,234)
Net Loss Per Share - Basic and Diluted $
(0.80) $
(1.57) $
(3.27) $
(4.37)
Weighted Average Common Shares Outstanding
Basic and diluted 11,006,896 6,954,278 9,020,356 6,557,892
Reflects a 1-for-25 reverse stock split effective November 25, 2024.
CITIUS PHARMACEUTICALS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED JUNE 30, 2025 AND 2024
(Unaudited)
2025 2024
Cash Flows From Operating Activities:
Net loss $
(30,996,623) $
(28,348,675)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense 7,946,529 9,198,340
Issuance of common stock for services 284,175
Amortization of operating lease right-of-use asset 152,212 154,494
Depreciation 1,432
Deferred income tax expense 792,720 432,000
Changes in operating assets and liabilities:
Inventory (8,940,201)
Prepaid expenses 1,386,824 (2,205,091)
Accounts payable 5,166,831 (1,263,998)
Accrued expenses 8,506,648 74,185
Accrued compensation 1,481,023 (454,315)
Operating lease liability (167,911) (161,234)
Net Cash Used In Operating Activities (14,671,948) (22,288,687)
Cash Flows From Financing Activities:
Net proceeds from common stock offerings 16,509,194 13,718,951
Proceeds from sale of Series A preferred stock 100
Redemption of Series A preferred stock (100)
Proceeds from note payable and advance from employee 1,300,000
Repayment of advance from employee (300,000)
Net Cash Provided By Financing Activities 17,509,194 13,718,951
Net Change in Cash and Cash Equivalents 2,837,246 (8,569,736)
Cash and Cash Equivalents - Beginning of Period 3,251,880 26,480,928
Cash and Cash Equivalents - End of Period $
6,089,126 $
17,911,192
Supplemental Disclosures of Cash Flow Information and Non-cash Transactions:
Operating lease right-of-use asset and liability recorded $
786,697
$
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SOURCE Citius Pharmaceuticals, Inc.
