Citius Pharmaceuticals, Inc. Reports Fiscal Second Quarter 2026 Financial Results and Provides Business Update
Rhea-AI Summary
Citius Pharmaceuticals (Nasdaq: CTXR) reported fiscal Q2 2026 results and a business update for majority-owned Citius Oncology (Nasdaq: CTOR). LYMPHIR generated $1.7M Q2 and $5.6M H1 2026 net revenue at ~80% gross margin, with payer coverage near 100% and 83% of target accounts on or in formulary review.
Citius Pharma held $4.6M cash on March 31, 2026, then raised $5M via a registered direct offering. Citius Oncology arranged up to $36.5M in combined warrant and debt financing. Management expects combined funds to support operations through November 2026. Net loss to common stockholders was $21.2M in Q2 2026, including a $19.7M one-time CMO contract cancellation charge.
The company highlighted initial LYMPHIR shipments to Europe via Uniphar, near-term completion of the U.S. commercial field force, and positive preliminary topline Phase 1 data from two investigator-initiated LYMPHIR combination studies. Engagement with the FDA continues for Mino-Lok and Halo-Lido.
Positive
- LYMPHIR H1 2026 net revenue reached $5.6 million at ~80% margin
- Q2 2026 net product revenue of $1.7 million versus zero a year earlier
- Near 100% payer coverage and 83% of target accounts on or in formulary review
- Citius Oncology secured up to $36.5 million in debt and equity financing
- Citius Pharma raised $5 million in a registered direct offering
- Management expects funding to support operations through November 2026
- Positive preliminary topline data from two investigator-initiated Phase 1 LYMPHIR studies
- Initial shipment of LYMPHIR to Europe across 19 markets via Uniphar
- R&D expenses declined to $1.6 million in Q2 2026 from $3.8 million year prior
- Recognized a $3.8 million gain from sale of New Jersey NOLs
Negative
- Q2 2026 net loss to common stockholders widened to $21.2 million
- G&A expenses rose to $26.4 million in Q2 2026, including $19.7 million CMO cancellation charge
- Cash and cash equivalents were $4.6 million as of March 31, 2026
- Funding runway currently expected only through November 2026
- Quarter-over-quarter revenue declined due to larger initial distributor orders in Q1 2026
- Stock-based compensation increased to $3.8 million in Q2 2026 from $2.7 million
News Market Reaction – CTOR
On the day this news was published, CTOR declined 13.95%, reflecting a significant negative market reaction. Argus tracked a trough of -4.0% from its starting point during tracking. Our momentum scanner triggered 6 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $14M from the company's valuation, bringing the market cap to $85.04M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Dec 23 | FY25 CTOR results | Negative | -9.8% | Reported FY25 net loss with modest cash and prior strategic financings post‑launch. |
| Dec 23 | FY25 CTXR results | Negative | -9.8% | Parent company reported FY25 net loss despite $61M in financings and LYMPHIR launch. |
| Aug 12 | Q3 2025 earnings | Positive | +5.9% | Q3 2025 results plus new financing to support upcoming LYMPHIR commercial launch. |
| May 14 | Q2 2025 earnings | Negative | -0.6% | Q2 2025 loss, rising R&D and G&A, and disclosure of limited cash needing more capital. |
| Feb 14 | Q1 2025 earnings | Negative | -5.6% | Q1 2025 net loss with low cash while preparing for LYMPHIR launch and raising funds. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings and financial updates have often been followed by negative price reactions, especially when capital needs and losses were emphasized.
Over the past year, CTOR’s earnings and financial updates have focused on financing LYMPHIR’s launch and managing losses. In Q2 2025, results highlighted rising R&D and G&A and a need for additional capital. Subsequent quarters, including Q3 2025 and full‑year 2025, showed continued net losses but also incremental financings. Historically, these earnings‑type announcements have averaged a -3.99% move, framing today’s fiscal Q2 2026 update on early LYMPHIR revenues and higher G&A.
Key Terms
registered direct offering financial
senior secured credit facility financial
Phase 1 medical
pembrolizumab medical
CAR-T therapy medical
diffuse large B-cell lymphoma medical
Named Patient Programs (NPPs) regulatory
formulary regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Citius Pharma raised
Advanced patient access with payer coverage near
"The first half of fiscal 2026 demonstrated meaningful commercial progress at our majority-owned subsidiary Citius Oncology. In the four months of commercial sales since the December 2025 launch of LYMPHIR, Citius Oncology generated
"Subsequent to quarter end, Citius Oncology secured up to
"Moreover, we are encouraged by positive preliminary topline Phase 1 data from two investigator-initiated combination studies, with pembrolizumab and prior to CAR-T therapy, which reinforce LYMPHIR's potential as a platform asset in combination regimens. At the Citius Pharma level, we also remain focused on advancing Mino-Lok and Halo-Lido with the FDA and on disciplined execution of our mission to bring first-in-class therapies to patients," concluded Mazur.
Fiscal Second Quarter 2026 Business Highlights and Subsequent Developments
- Reported key commercial metrics of LYMPHIR launch:
83% of target accounts had added or were actively progressing LYMPHIR through formulary review;- Secured near
100% of covered commercial lives; no reimbursement denials or prior authorization barriers reported; - Initial accounts placing repeat orders;
- Patients beginning to transition from larger academic cancer centers to community infusion centers;
- Announced initial shipment of LYMPHIR to
Europe on April 29, 2026 through Uniphar, a leading international healthcare services company, with LYMPHIR being made available to eligible patients through Named Patient Programs (NPPs) in accordance with local regulations across 19 markets inSouthern Europe , theMiddle East , and additional European territories; - Announced positive topline results from two investigator-initiated Phase 1 studies, including:
- LYMPHIR in combination with pembrolizumab in patients with recurrent or refractory gynecologic cancers, including ovarian and endometrial malignancies;
- LYMPHIR administered prior to commercial CD19-directed CAR-T therapy in patients with high-risk relapsed or refractory diffuse large B-cell lymphoma (DLBCL), with positive topline safety and efficacy results; and,
- Continued FDA engagement on Mino-Lok®, an antibiotic lock solution to salvage catheters in patients with catheter-related bloodstream infections, and on Halo-Lido (CITI-002), a topical formulation for hemorrhoids.
Fiscal Second Quarter 2026 Financial Highlights and Subsequent Events
- Cash and cash equivalents of
$4.6 million - Citius Pharma closed a
$5 million - Citius Oncology secured up to
$36.5 million $11.5 million - a loan agreement of up to
$25 million $10 million $15 million
- Citius Pharma and Citius Oncology collectively expect to have sufficient funds to continue operations through November 2026;
- Net product revenues of
$1.7 million $5.6 million - Gross profit of
$1.3 million $4.5 million 80% in both periods, reflecting continued commercial progress since the December 2025 launch of LYMPHIR; - R&D expenses of
$1.6 million $3.8 million $3.2 million $5.9 million - G&A expenses of
$26.4 million $4.8 million $19.7 million $32.1 million $10.2 million - Stock-based compensation expense was
$3.8 million $2.7 million $8.1 million $5.2 million - Recognized a gain of
$3.8 million New Jersey state net operating losses under the New Jersey Technology Business Tax Certificate Transfer Program; and, - Net loss applicable to common stockholders of
$21.2 million $(0.95) $10.9 million $(1.27) $29.5 million $(1.34) $20.7 million $(2.58)
About Citius Oncology, Inc.
Citius Oncology, Inc. (Nasdaq: CTOR) is a platform to develop and commercialize novel targeted oncology therapies. In December 2025, Citius Oncology launched LYMPHIR, approved by the FDA for the treatment of adults with relapsed or refractory Stage I–III CTCL who had had at least one prior systemic therapy. Management estimates the initial market for LYMPHIR currently exceeds
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
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 Pharmaceuticals. 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 are: 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 obtain, perform under and maintain financing, strategic and third party agreements and relationships, including obtaining a new bulk drug substance supplier; our ability to regain compliance with Nasdaq's continued listing standards; 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; 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; the ability of LYMPHIR and our product candidates to impact the quality of life of our target patient populations; 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; 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 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 Oncology's Annual Report on Form 10-K for the year ended September 30, 2025, filed with the SEC on December 23, 2025 and as amended on January 28, 2026. 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) | ||||||||
March 31, | September 30, | |||||||
2026 | 2025 | |||||||
ASSETS | ||||||||
Current Assets: | ||||||||
Cash and cash equivalents | $ | 4,590,174 | $ | 4,252,290 | ||||
Accounts receivable, net of allowances | 1,079,055 | - | ||||||
Inventory | 22,659,590 | 22,286,693 | ||||||
Prepaid expenses | 3,356,882 | 1,395,490 | ||||||
Total Current Assets | 31,685,701 | 27,934,473 | ||||||
Operating lease right-of-use asset, net | 794,518 | 818,694 | ||||||
Deposits | 38,062 | 38,062 | ||||||
In-process research and development, net of accumulated amortization | 90,506,250 | 92,800,000 | ||||||
Deferred financing costs | 169,252 | - | ||||||
Goodwill | 9,346,796 | 9,346,796 | ||||||
Total Other Assets | 100,060,360 | 102,184,858 | ||||||
Total Assets | $ | 132,540,579 | $ | 130,938,025 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Current Liabilities: | ||||||||
Accounts payable | $ | 9,453,803 | $ | 13,693,692 | ||||
License payable | 17,650,000 | 22,650,000 | ||||||
Accrued expenses | 24,138,264 | 4,190,253 | ||||||
Accrued compensation | 3,602,007 | 3,292,447 | ||||||
Note payable | - | 1,000,000 | ||||||
Operating lease liability | 171,495 | 88,348 | ||||||
Total Current Liabilities | 55,015,569 | 44,914,740 | ||||||
Deferred tax liability | 7,803,790 | 7,770,760 | ||||||
Operating lease liability – noncurrent | 636,667 | 724,925 | ||||||
Total Liabilities | 63,456,026 | 53,410,425 | ||||||
Commitments and Contingencies | ||||||||
Stockholders' Equity: | ||||||||
Preferred stock - | - | - | ||||||
Common stock - | 22,376 | 18,068 | ||||||
Additional paid-in capital | 329,775,214 | 306,336,239 | ||||||
Accumulated deficit | (268,256,054) | (238,804,129) | ||||||
Total Citius Pharmaceuticals, Inc. Stockholders' Equity | 61,541,536 | 67,550,178 | ||||||
Non-controlling interest | 7,543,017 | 9,977,422 | ||||||
Total Equity | 69,084,553 | 77,527,600 | ||||||
Total Liabilities and Equity | $ | 132,540,579 | $ | 130,938,025 | ||||
CITIUS PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND SIX MONTHS ENDED MARCH 31, 2026 AND 2025 (Unaudited) | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
March 31, | March 31, | March 31, | March 31, | |||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
Revenues | $ | 1,667,298 | $ | — | $ | 5,611,409 | $ | — | ||||||||
Cost of revenues | (328,878) | — | (1,118,086) | — | ||||||||||||
Gross Profit | 1,338,420 | — | 4,493,323 | — | ||||||||||||
Operating Expenses | ||||||||||||||||
Research and development | 1,633,518 | 3,766,525 | 3,233,237 | 5,893,563 | ||||||||||||
Amortization of in-process research and development | 1,720,312 | — | 2,293,750 | — | ||||||||||||
General and administrative | 26,391,101 | 4,792,122 | 32,111,828 | 10,179,874 | ||||||||||||
Stock-based compensation – general and administrative | 3,788,275 | 2,702,031 | 8,068,502 | 5,226,855 | ||||||||||||
Total Operating Expenses | 33,533,206 | 11,260.678 | 45,707,317 | 21,300,292 | ||||||||||||
Operating Loss | (32,194,786) | (11,260,678) | (41,213,994) | (21,300,292) | ||||||||||||
Other Income (Expense) | ||||||||||||||||
Interest income | 53,584 | 13,413 | 98,681 | 36,021 | ||||||||||||
Gain on sale of | 3,833,277 | — | 3,833,277 | — | ||||||||||||
Interest expense | (33,031) | — | (188,569) | — | ||||||||||||
Total Other Income, Net | 3,853,830 | 13,413 | 3,743,389 | 36,021 | ||||||||||||
Loss before Income Taxes | (28,340,956) | (11,247,265) | (37,470,605) | (21,264,271) | ||||||||||||
Income tax expense (benefit) | (231,210) | 264,240 | 33,030 | 528,480 | ||||||||||||
Net Loss | (28,109,746) | (11,511,505) | (37,503,635) | (21,792,751) | ||||||||||||
Net loss attributable to non-controlling interest | 6,878,606 | 595,000 | 8,051,710 | 1,108,000 | ||||||||||||
Net loss applicable to common stockholders | $ | (21,231,140) | $ | (10,916,505) | $ | (29,451,925) | $ | (20,684,751) | ||||||||
Net Loss Per Share - Basic and Diluted | $ | (0.95) | $ | (1.27) | $ | (1.34) | $ | (2.58) | ||||||||
Weighted Average Common Shares Outstanding | ||||||||||||||||
Basic and diluted (includes pre-funded warrants from the | 22,376,427 | 8,581,207 | 21,931,009 | 8,029,834 | ||||||||||||
CITIUS PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED MARCH 31, 2026 AND 2025 (Unaudited) | ||||||||
2026 | 2025 | |||||||
Cash Flows From Operating Activities: | ||||||||
Net loss | $ | (37,503,635) | $ | (21,792,751) | ||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
Stock-based compensation expense | 8,068,502 | 5,226,855 | ||||||
Issuance of common stock for services | 107,510 | - | ||||||
Issuance of common stock warrant | 68,597 | - | ||||||
Amortization of in-process research and development | 2,293,750 | - | ||||||
Amortization (accretion) of operating lease right-of-use asset | 24,176 | 110,845 | ||||||
Deferred income tax expense | 33,030 | 528,480 | ||||||
Changes in operating assets and liabilities: | ||||||||
Accounts receivable, net of allowances | (1,079,055) | - | ||||||
Inventory | (372,897) | (7,070,487) | ||||||
Prepaid expenses | (1,961,392) | (308,791) | ||||||
Accounts payable | (4,239,889) | 4,441,023 | ||||||
Accrued expenses | 19,948,011 | 8,762,217 | ||||||
Accrued compensation | 309,560 | 955,048 | ||||||
Operating lease liability | (5,111) | (117,767) | ||||||
Net Cash Used In Operating Activities | (14,308,843) | (9,265,328) | ||||||
Cash Flows From Investing Activities: | ||||||||
License fee payments | (5,000,000) | — | ||||||
Net Cash Used in Investing Activities | (5,000,000) | — | ||||||
Cash Flows From Financing Activities: | ||||||||
Repayment of note payable | (1,000,000) | — | ||||||
Deferred financing costs | (169,252) | — | ||||||
Proceeds from exercise of Citius Oncology pre-funded warrants | 818 | — | ||||||
Net proceeds from common stock offerings | 20,815,161 | 6,039,858 | ||||||
Net Cash Provided By Financing Activities | 19,646,727 | 6,039,858 | ||||||
Net Change in Cash and Cash Equivalents | 337,884 | (3,225,470) | ||||||
Cash and Cash Equivalents - Beginning of Period | 4,252,290 | 3,251,880 | ||||||
Cash and Cash Equivalents - End of Period | $ | 4,590,174 | $ | 26,410 | ||||
Supplemental Disclosures of Cash Flow Information and Non-cash Transactions: | ||||||||
Interest paid | $ | 105,310 | $ | — | ||||
Operating lease right-of-use asset and liability recorded | $ | — | $ | 786,697 | ||||
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SOURCE Citius Pharmaceuticals, Inc.