Citius Pharmaceuticals, Inc. Secures $3.8 million through New Jersey Economic Development Program

Rhea-AI Summary

Citius Pharmaceuticals (Nasdaq: CTXR) received $3.8 million in non-dilutive capital through New Jersey's Technology Business Tax Certificate Transfer Program (NOL Program) funded by the New Jersey Economic Development Authority on Feb 24, 2026.

The funding strengthened the company's balance sheet and financial flexibility and is intended to support the commercial launch of LYMPHIR and advancement of its late-stage pipeline programs, per management.

Positive

• $3.8 million of non-dilutive capital secured
• Funding strengthens balance sheet and financial flexibility
• Capital earmarked to support LYMPHIR commercial launch
• Proceeds to advance late-stage pipeline programs

Negative

• None.

Key Figures

Non-dilutive funding: $3.8 million

1 metrics

Non-dilutive funding $3.8 million New Jersey Technology Business Tax Certificate Transfer (NOL) Program

Market Reality Check

Price: $0.6655 Vol: Pre-news volume of 431,24...

normal vol

$0.6655 Last Close

Volume Pre-news volume of 431,246 vs 20-day average 517,450 (relative volume 0.83x). normal

Technical Shares at $0.6655, trading below the $1.16 200-day moving average and near the 52-week low of $0.63.

Peers on Argus

CTXR was down 6.14% pre-news. Peers showed mixed, mostly negative moves (e.g., L...

CTXR was down 6.14% pre-news. Peers showed mixed, mostly negative moves (e.g., LSTA -1.79%, ELEV -2.28%, HOTH -1.92%, RNTX -4.88%, while QTTB rose 2.00%), suggesting stock-specific pressure rather than a synchronized sector move.

Historical Context

5 past events · Latest: Feb 13 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 13	Quarterly results & revenue	Positive	-3.5%	First reported LYMPHIR revenue and narrowed net loss with financing proceeds.
Feb 13	Oncology revenue update	Positive	-3.5%	Citius Oncology’s first LYMPHIR revenue and detailed Q1 2026 financial metrics.
Feb 11	EU distribution deal	Positive	+10.8%	Exclusive Uniphar agreement to expand LYMPHIR access via managed access programs.
Dec 23	Oncology FY results	Neutral	-0.9%	Fiscal 2025 results, $36M financings and LYMPHIR U.S. launch with program updates.
Dec 23	Parent FY results	Neutral	-0.9%	Citius Pharma FY 2025 update highlighting LYMPHIR launch, access, and financings.

Pattern Detected

Recent positive milestones, including LYMPHIR launch and revenue, often saw muted or negative next-day price reactions, with only the European distribution agreement coinciding with a strong gain.

Recent Company History

Over the past six months, Citius-related news has focused on launching and commercializing LYMPHIR, reporting initial $3.9M in quarterly revenue, and securing multiple financings to support operations. Earnings and business updates for both Citius Pharmaceuticals and Citius Oncology frequently noted sizable net losses alongside new capital raises. The current non-dilutive funding adds liquidity to a story that has combined commercial progress with ongoing balance sheet and going-concern pressures.

Market Pulse Summary

This announcement adds $3.8M in non-dilutive capital via New Jersey’s NOL program, supporting Citius...

Analysis

This announcement adds $3.8M in non-dilutive capital via New Jersey’s NOL program, supporting Citius as it advances LYMPHIR’s commercial rollout and late-stage pipeline assets. Recent filings emphasized ongoing net losses, limited cash runway, and prior equity financings. Investors may track future liquidity disclosures, progress in LYMPHIR adoption, and any further financing activity to gauge how this funding contributes to extending the company’s operational runway.

Key Terms

non-dilutive capital, net operating losses

2 terms

non-dilutive capital financial

"has received $3.8 million in non-dilutive capital through New Jersey's"

Funding that does not require a company to issue new shares or reduce existing owners’ percentage of ownership, such as grants, certain loans, licensing deals, or customer prepayments. It matters to investors because it preserves each shareholder’s stake and per-share value—like getting a loan or a gift instead of selling part of the company—while still carrying obligations (repayment, milestones, or restrictions) that can affect future cash flow and growth.

net operating losses financial

"enables us to convert net operating losses into meaningful non-dilutive capital."

Net operating losses are the amount by which a company’s allowable tax deductions exceed its taxable income in a given year, creating a tax loss that can be carried forward or backward to reduce taxes in other years. For investors this matters because NOLs can lower future tax payments and boost cash flow—think of them as unused tax credits a business can apply later to improve profitability and valuation or make the company more attractive in a sale or investment.

AI-generated analysis. Not financial advice.

Non-dilutive capital supports continued execution and value creation

CRANFORD, N.J., Feb. 24, 2026 /PRNewswire/ -- Citius Pharmaceuticals, Inc. ("Citius Pharma" or the "Company") (Nasdaq: CTXR), a biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products today announced that the Company has received $3.8 million in non-dilutive capital through New Jersey's Technology Business Tax Certificate Transfer Program, more commonly known as the Net Operating Loss (NOL) Program, funded through the New Jersey Economic Development Authority (NJEDA).

"We are pleased to once again participate in New Jersey's NOL Program, which enables us to convert net operating losses into meaningful non-dilutive capital. As expected, this funding strengthened our balance sheet and enhances our financial flexibility as we continue executing on our strategy, including supporting the commercial launch of LYMPHIR and advancing our late-stage pipeline programs. We appreciate the continued support of the New Jersey Economic Development Authority and remain committed to disciplined capital allocation that drives long-term shareholder value while advancing important therapies for patients," stated Jaime Bartushak, Chief Financial Officer of Citius.

About the Technology Business Tax Certificate Transfer Program (NOL Program)

The Technology Business Tax Certificate Transfer Program enables approved technology and biotechnology businesses with net operating losses to sell their unused net operating loss carryover (NOL) and unused research and development tax credits (R&D Tax Credits) for at least 80% of the value of the tax benefits to a profitable corporate taxpayer in the State of New Jersey that is not an affiliated business.  This allows technology and biotechnology businesses with net operating losses to turn their tax losses and credits into cash to buy equipment or facilities, or for other allowable expenditures.  The NJEDA determines eligibility, and the New Jersey Division of Taxation determines the value of the tax benefits.

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority serves as the State's principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey's long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.com and follow @NewJerseyEDA  on Facebook, Twitter, Instagram, and LinkedIn.

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 74.8% 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.  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 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 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, 2025, filed with the SEC on December 23, 2025, as amended 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  

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SOURCE Citius Pharmaceuticals, Inc.

FAQ

How much funding did Citius Pharmaceuticals (CTXR) receive from New Jersey on Feb 24, 2026?

Citius Pharmaceuticals received $3.8 million in non-dilutive capital. According to the company, the funds came via New Jersey's NOL Program administered by the NJEDA to convert net operating losses into cash.

What is the purpose of the $3.8 million NOL funding for CTXR?

The funding is intended to strengthen the balance sheet and financial flexibility. According to the company, it will support the commercial launch of LYMPHIR and advance late-stage pipeline programs.

Is the $3.8 million from New Jersey considered dilutive for CTXR shareholders?

No, the $3.8 million is non-dilutive capital, not new equity. According to the company, the NOL Program converts tax attributes into cash without issuing shares.

What program provided Citius Pharmaceuticals (CTXR) with the funding?

The funds were provided through New Jersey's Technology Business Tax Certificate Transfer Program (NOL Program). According to the company, the program is funded by the New Jersey Economic Development Authority.

How will the NOL proceeds impact CTXR's near-term strategy?

Proceeds are expected to enhance near-term financial flexibility for execution. According to the company, the funding specifically supports LYMPHIR's commercial launch and late-stage program advancement.