Full Press Release Details
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., August 12, 2025 -- 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
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.
THIRD QUARTER 2025 Financial Results:
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 , 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
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.
-- Financial Tables Follow -
CITIUS PHARMACEUTICALS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
| 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; 14,475,029 and 7,247,243 shares issued and outstanding at June 30, 2025 and September 30, 2024, respectively | 14,475 | 7,247 | ||||||
| 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
CITIUS PHARMACEUTICALS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF
FOR THE THREE AND NINE MONTHS ENDED
JUNE 30, 2025 AND 2024
| Three Mo n ths Ended | Nine Mon t hs 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
CITIUS PHARMACEUTICALS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED JUNE 30, 2025 AND
| 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 | $ | - |