Citius Pharmaceuticals Inc. Common (CTXR)
Citius Pharmaceuticals Inc. (CTXR) is a specialty pharmaceutical company focused on developing and commercializing innovative products for the hospital, infusion, and existing retail markets. The company emphasizes therapies for unmet medical needs, often in areas such as wound care, infection control, and other critical healthcare sectors. Their pipeline includes products aimed at improving patient outcomes and addressing niche medical indications.
Company News
Citius Oncology closed a $9.0 million registered direct offering and private placement, issuing 5,142,858 shares of common stock and accompanying warrants at $1.75 per share, with warrants exercisable at $1.84 per share.
The heavy selling pressure might have exhausted for Citius Pharmaceuticals, Inc. (CTXR) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
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With cash balance of $115.7 million, Citius will likely incur a loss in the E7777 transaction. It requires an upfront payment of $40 million and milestone payments of up to $110 million.
A lot would have to go right for this biotech to make investors rich.