Citius Pharmaceuticals Announces $15 Million Registered Direct Offering

Rhea-AI Impact
Rhea-AI Sentiment
Citius Pharmaceuticals Inc. announces a $15 million registered direct offering of common stock and warrants. The offering includes 21,428,574 shares at $0.70 per share with accompanying warrants to purchase additional shares at $0.75 per share.
Citius Pharmaceuticals Inc. annuncia un'offerta diretta registrata di 15 milioni di dollari in azioni ordinarie e warrant. L'offerta comprende 21.428.574 azioni al prezzo di 0,70 dollari ciascuna con warrant accompagnatori per l'acquisto di ulteriori azioni a 0,75 dollari per azione.
Citius Pharmaceuticals Inc. anuncia una oferta directa registrada de 15 millones de dólares de acciones comunes y warrants. La oferta incluye 21.428.574 acciones a un precio de 0,70 dólares por acción con warrants acompañantes para comprar acciones adicionales a 0,75 dólares por acción.
시티어스 파마슈티컬스 인크가 보통주와 워런트의 1,500만 달러 등록 직접 제공을 발표했습니다. 이 제공에는 주당 0.70달러에 21,428,574주가 포함되어 있으며, 추가 주식을 주당 0.75달러에 구매할 수 있는 워런트가 동반됩니다.
Citius Pharmaceuticals Inc. annonce une offre directe enregistrée de 15 millions de dollars d'actions ordinaires et de bons de souscription. L'offre comprend 21 428 574 actions à un prix de 0,70 dollar par action, accompagnées de bons pour l'achat d'actions supplémentaires à 0,75 dollar par action.
Citius Pharmaceuticals Inc. kündigt ein registriertes Direktangebot von Stammaktien und Warrants über 15 Millionen Dollar an. Das Angebot umfasst 21.428.574 Aktien zum Preis von 0,70 Dollar pro Aktie, begleitet von Warrants zum Kauf zusätzlicher Aktien zu einem Preis von 0,75 Dollar pro Aktie.
  • None.
  • None.

The registered direct offering by Citius Pharmaceuticals is a capital-raising event where the company sells stocks directly to select investors, typically institutional ones. This offering of over 21 million shares at $0.70 per share, with additional warrants, implies a capital infusion of $15 million into the company. For investors, the exercise price of $0.75 for the warrants is a key figure, representing the future price at which the warrant can be converted into a share. Given that the warrants are exercisable six months post-issuance, the market is provided with a timeline to monitor the company's performance and potential stock price movement. The price set for both the shares and warrants suggests a valuation of the company by the investors involved in this transaction. It's important to compare these figures to Citius's current stock price and historical performance to gauge investor sentiment. Short-term, this inflow of cash might bolster the company's balance sheet, potentially funding ongoing research and operations. Long-term implications for shareholders include the likelihood of dilution since more shares in circulation can reduce the value of existing shares. However, if the funds are used effectively to bring products to market, this could improve the company's valuation.

Citius Pharmaceuticals operates within the biopharmaceutical industry, focusing on first-in-class critical care products. This sector is highly capital-intensive, with significant investment required for research, development and clinical trials before a product reaches the market. The $15 million raise is relatively modest compared to the overall funding often needed for late-stage trials and commercialization. Investors should evaluate Citius's product pipeline, the stages of clinical trials and any potential regulatory hurdles that could impact the time-to-market for their products. The additional funds may give Citius the runway needed to achieve key milestones and help the company move closer to profitability. If Citius's products show promise, the long-term return on investment could be significant. Investors should be aware of the biotech industry's volatility, heavily influenced by trial outcomes and FDA approvals. It is also essential to consider the competitive landscape, as it will affect Citius's potential market share and pricing power once its products are commercialized.

CRANFORD, N.J., April 26, 2024 /PRNewswire/ -- Citius Pharmaceuticals Inc. (Nasdaq: CTXR) ("Citius" or the "Company"), a late-stage biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products, today announced that it has entered into definitive agreements for the purchase of an aggregate of 21,428,574 shares of its common stock and accompanying warrants to purchase up to an aggregate of 21,428,574 shares of its common stock, at a purchase price of $0.70 per share and accompanying warrant in a registered direct offering. The warrants will have an exercise price of $0.75 per share, will be exercisable six months from the date of issuance, and will expire five years from the initial exercise date.  The closing of the offering is expected to occur on or about April 30, 2024, 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 $15 million, before deducting the placement agent fees and other offering expenses payable by the Company. Citius currently intends to use the net proceeds from the offering for general corporate purposes, including pre-clinical and clinical development of our product candidates and working capital and capital expenditures.

The securities 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 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 securities being offered will be filed with the SEC and be available at the SEC's website at Electronic copies of the prospectus supplement and the accompanying prospectus relating to the securities being offered 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

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 is a late-stage biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products. The Company's diversified pipeline includes two late-stage product candidates. The Biologics License Application for LYMPHIRTM, a novel IL-2R immunotherapy for an initial indication in cutaneous T-cell lymphoma, is currently under review by the FDA with August 13, 2024 assigned as the PDUFA target action date. Citius previously announced plans to form Citius Oncology, a standalone publicly traded company with LYMPHIR as its primary asset. LYMPHIR received orphan drug designation by the FDA for the treatment of CTCL and PTCL. In addition, Citius completed enrollment in its Phase 2b trial of CITI-002 (Halo-Lido), a topical formulation for the relief of hemorrhoids. 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. 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: risks related to the closing of the offering; risks relating to the results of research and development activities, including those from existing and new pipeline assets; uncertainties relating to preclinical and clinical testing; the early stage of products under development; our need for substantial additional funds; our ability to commercialize our products if approved by the FDA; our dependence on third-party suppliers; our ability to procure cGMP commercial-scale supply; 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; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; market and other conditions; our ability to attract, integrate, and retain key personnel; 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 SEC filings. These risks have been and may be further impacted by Covid-19 and could be 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, including in our Annual Report on Form 10-K for the year ended September 30, 2023, filed with the SEC on December 29, 2023, and 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
908-967-6677 x113

Media Contact:
Greg Salsburg

Citius Pharmaceuticals, a late-stage biopharmaceutical company (PRNewsfoto/Citius Pharmaceuticals, Inc.)



Cision View original content to download multimedia:

SOURCE Citius Pharmaceuticals, Inc.


What did Citius Pharmaceuticals announce?

Citius Pharmaceuticals announced a $15 million registered direct offering of common stock and warrants.

How many shares are included in the offering?

The offering includes 21,428,574 shares of common stock.

At what price are the shares being offered?

The shares are being offered at a price of $0.70 per share.

What is the exercise price of the accompanying warrants?

The warrants have an exercise price of $0.75 per share.

When will the warrants be exercisable?

The warrants will be exercisable six months from the date of issuance.

Citius Pharmaceuticals, Inc.


CTXR Rankings

CTXR Latest News

CTXR Stock Data

Medicinal and Botanical Manufacturing
United States of America