Full Press Release Details
Citius Pharmaceuticals Announces a Registered
Direct Offering of $5 Million Priced At- The-Market Under Nasdaq Rules
Cranford, NJ, April 24, 2026 -
Citius Pharmaceuticals Inc. (Nasdaq: CTXR) ("Citius Pharma" or the "Company"), a biopharmaceutical company dedicated
to the development and commercialization of first-in-class critical care products, today announced that it has entered into a definitive
agreement for the purchase of an aggregate of 5,076,143 shares of its common stock (or pre-funded warrants in lieu thereof) at a purchase
price of $0.985 per share (or pre-funded warrant in lieu thereof) in a registered direct offering priced at-the-market under Nasdaq rules.
In a concurrent private placement, the Company will issue unregistered warrants to purchase up to 5,076,143 shares of common stock at
an exercise price of $0.86 per share that will be exercisable immediately upon issuance and will expire five years following the effective
date of a registration statement registering the shares issuable upon exercise of the warrants. The closing of the offering is expected
to occur on or about April 24, 2026, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive
placement agent for the offering.
The aggregate gross proceeds to the Company from
the offering are expected to be approximately $5 million, before deducting the placement agent fees and other offering expenses payable
by the Company. The Company currently intends to use the net proceeds from the offering to support the commercial launch of LYMPHIR ,
including milestone, regulatory and other payments, development initiatives for all of our product candidates, as well as for general
The common stock (or pre-funded warrants) (but
not the unregistered warrants and the shares of common stock underlying the unregistered warrants) described above are being offered pursuant
to a "shelf" registration statement (File No. 333-277319) filed with the Securities and Exchange Commission ("SEC")
on February 23, 2024 and declared effective on March 1, 2024. The registered direct offering is being made only by means of a prospectus,
including a prospectus supplement, forming a part of the effective registration statement. The prospectus supplement and the accompanying
prospectus relating to the registered direct offering will be filed with the SEC and be available at the SEC's website at www.sec.gov.
Electronic copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may also be
obtained, when available, by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022,
by telephone at (212) 856-5711 or e-mail at placements@hcwco.com.
The unregistered warrants described above are
being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"),
and/or Regulation D promulgated thereunder and, along with the shares of common stock underlying such unregistered warrants, have not
been registered under the Securities Act, or applicable state securities laws. Accordingly, the unregistered warrants and underlying shares
of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable
exemption from the registration requirements of the Securities Act and such applicable state securities laws.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under
the securities laws of any such state or jurisdiction.
About Citius Pharmaceuticals, Inc.
Citius Pharmaceuticals, Inc. (Nasdaq: CTXR) is
a biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products. Citius Pharma
owns approximately 71% of Citius Oncology. In December 2025, Citius Oncology launched LYMPHIR, a targeted immunotherapy for the treatment
of adults with relapsed or refractory Stage I-III CTCL who had had at least one prior systemic therapy. Citius Pharma's late-stage
pipeline also includes Mino-Lok , a catheter 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. 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, and includes all statements related to the completion of the offering,
the satisfaction of customary closing conditions related to the offering, and the intended use of net proceeds from the offering.
Factors that could cause actual results to differ materially from those currently anticipated are: related to the closing of the offering,
our need for substantial additional funds and our ability to raise additional money to fund our operations for at least the next 12 months
as a going concern; our ability to successfully commercialize LYMPHIR and establish a sustainable revenue stream; the estimated markets
for LYMPHIR and our product candidates and the acceptance thereof by any market; our ability to secure strategic partnerships and expand
international access to LYMPHIR; our ability to use the latest technology to support our commercialization efforts for LYMPHIR; physician
and patient acceptance of LYMPHIR in a competitive treatment landscape; the ability of LYMPHIR and our product candidates to impact the
quality of life of our target patient populations; our ability to maintain Nasdaq's continued listing standards; our reliance on
third-party logistics providers, distributors, and specialty pharmacies to support commercial operations; our ability to educate providers
and payers, secure adequate reimbursement, and maintain uninterrupted product supply; post-marketing requirements and ongoing regulatory
compliance related to LYMPHIR; risks relating to the results of research and development activities, including those from any new pipeline
assets; our ability to procure cGMP commercial-scale supply; our ability to obtain, perform under and maintain financing and strategic
agreements and relationships; market and other conditions; risks related to our growth strategy; patent and intellectual property matters;
government regulation; as well as other risks described in our 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, 2025, filed with the SEC on December 23,
2025, as amended January 28, 2026, 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.