Exhibit
99.1

Citius
Oncology Highlights Phase 1 Data in an Investigator-Initiated Study of LYMPHIR®
(denileukin diftitox-cxdl) in Combination
with Pembrolizumab in Recurrent or Refractory Gynecologic Malignancies
Investigator-initiated
study data presented May 30, 2026, at the American Society of
Clinical
Oncology (ASCO) Annual Meeting demonstrated durable responses and manageable tolerability in heavily pre-treated
patients
20.5
months of median progression-free survival observed among 48% of efficacy-evaluable patients achieving clinical benefit (10 of 21)
Responses
were observed in patients previously treated with immune checkpoint inhibitors,
including a 33% objective response rate in patients with
relapsed or refractory endometrial cancer
CRANFORD,
N.J., June 1, 2026 – Citius Oncology, Inc. (“Citius Oncology”) (Nasdaq: CTOR), an oncology-focused
biopharmaceutical company and majority-owned subsidiary of Citius Pharmaceuticals, Inc. (“Citius Pharma”) (Nasdaq:
CTXR), today highlighted Phase 1 clinical data presented May 30, 2026, at the American Society of Clinical Oncology (ASCO) Annual
Meeting evaluating LYMPHIR (denileukin diftitox-cxdl) in combination with pembrolizumab in patients with recurrent or refractory
gynecologic malignancies. The poster presentation (Abstract #2564) was presented by investigators from the University of Pittsburgh
Medical Center (UPMC) Magee-Womens Hospital.
“LYMPHIR’s
ability to transiently deplete immunosuppressive regulatory T-cells may help address immune resistance in the tumor microenvironment
and enhance the effect of checkpoint inhibitors. The encouraging clinical signals and tolerability profile observed in this study support
continued clinical evaluation of this “chemo-free” immunomodulatory approach, especially in tumors where resistance to checkpoint
inhibitors remains a significant challenge,” said Dr. Myron S. Czuczman, Chief Medical Officer of Citius Oncology.
The
open-label Phase 1 study evaluated LYMPHIR in combination with pembrolizumab in 25 heavily pre-treated patients (21 evaluable for efficacy)
with recurrent or metastatic solid tumors, primarily gynecologic malignancies. Enrolled patients had received a median of five prior
therapies, and more than half had previously received anti-PD-1 or PD-L1 therapy.
Key
Efficacy and Safety findings presented at ASCO included:
| ● | 24%
Overall Response Rate (ORR) among the 21 efficacy-evaluable patients (5 partial responses). |
| ● | Median
duration of response (mDOR) had not yet been reached because only 1 of the 5 partial responders
had progressed at the time of analysis (80% of PRs were continuing to experience clinical
benefit). The current duration of response times (time since PR was achieved) were 4.2-35
months with a median of 21.1 months. |
| ● | 33%
ORR in endometrial cancer patients previously treated with checkpoint inhibitors, including
one patient with an ongoing response greater than three years. |
| ● | 48%
of efficacy-evaluable patients (10 of 21) achieved clinical benefit, defined as complete
response (CR), partial response (PR), or durable stable disease lasting at least six months: |
| o | Median
progression-free survival (mPFS) of 20.5 months (95% CI: 6.5 – NA) among the 10 patients
who achieved clinical benefit; overall mPFS across all 21 efficacy-evaluable patients was
5.8 months (95% CI: 2.2 – NA); |
| o | 5
patients had a PFS of > 20 months including 1 patient with > 30 months PFS; |
| ● | Of
the 24/25 pts evaluable for dose limiting toxicities (DLTs), only 1 case of reversible Gr
3 capillary leak syndrome (CLS) was observed at the highest dose level. A maximum tolerated
dose was not achieved. |
| ● | 16
serious adverse events were observed in seven patients treated at the highest dose level.
No new safety signals or grade 3 or greater immune-related adverse events were observed.
|
Dr.
Alexander Olawaiye, a professor and one of the gynecologic cancer researchers at UPMC Magee-Womens Hospital and lead investigator of
the study, added, “Patients with recurrent gynecologic malignancies who progress following immunotherapy often have limited treatment
options. The clinical activity observed with denileukin diftitox-cxdl plus pembrolizumab, including durable responses and prolonged disease
control in heavily pre-treated patients, is notable. Given the lack of effective salvage treatments for these patients, especially those
that have failed prior immune-checkpoint inhibition, the novel combination of LYMPHIR plus pembrolizumab provides a potential viable
therapeutic option. Importantly, the safety profile observed was manageable in this heavily pre-treated population, supporting continued
evaluation in larger studies.”
Ongoing
translational studies are evaluating the impact of the combination on regulatory T-cells, immune effector cells, and the tumor microenvironment
to help identify potential biomarkers in order to optimize future development strategies. A Phase 2 expansion study is being planned
to further evaluate the combination in gynecologic cancers, including less heavily pre-treated and prior immunotherapy-exposed patient
populations.
About
the Study
This
open-label, dose-escalation, investigator-initiated Phase 1 study (NCT05200559), led by Dr. Alexander B Olawaiye at UPMC Magee-Womens
Hospital, enrolled 25 patients with recurrent or metastatic solid tumors who had received at least one prior line of therapy. LYMPHIR
was administered intravenously on Days 1–3 of each 21-day cycle at escalating doses (3, 6, 9, and 12 mcg/kg), along with
pembrolizumab (200 mg IV) on Day 1. Patients who completed eight cycles of combination therapy were continued on pembrolizumab
monotherapy until disease progression. Citius Oncology provided study drug and financial support to the investigator-initiated study;
the study was designed, conducted, and analyzed by the UPMC investigators.
Important
note on investigational use: The use of LYMPHIR in this study was investigational and outside of its FDA-approved indication of relapsed
or refractory Stage I–III cutaneous T-cell lymphoma. LYMPHIR is not approved by the FDA for the treatment of gynecologic malignancies
or any solid tumor, and the safety and efficacy of LYMPHIR in this setting have not been established. This Phase 1 study was not designed
or powered to evaluate clinical efficacy, and no conclusions can be drawn regarding comparative effectiveness or long-term outcomes.
Early-stage clinical data may not be predictive of results from larger or later-stage studies.
About
Gynecologic Cancers
Recurrent
or metastatic ovarian and endometrial cancers are two of the most common gynecologic malignancies in the United States. Endometrial cancer
is the most frequently diagnosed gynecologic cancer, with an estimated 70,000 new endometrial cancer cases expected in the United States
in 20261, while ovarian cancer remains the deadliest with approximately 12,700 deaths per year (51.6%) and approximately 20,000
new diagnoses each year in the United States2. These cancers are often detected at advanced stages, and although many patients
initially respond to platinum-based chemotherapy, most experience relapse and develop resistance. Survival rates in the recurrent setting
remain poor, and responses to current immunotherapies such as PD-1 inhibitors are limited, highlighting a significant unmet need for
novel treatment approaches. LYMPHIR’s transient depletion of regulatory T-cells in combination with anti-PD-1 checkpoint inhibition
may potentially enhance host anti-tumor immune responses and help overcome immunotherapy resistance in these difficult-to-treat tumors.
About
LYMPHIR (denileukin diftitox-cxdl)
LYMPHIR
is a targeted immune therapy for relapsed or refractory cutaneous T-cell lymphoma (CTCL) indicated for use in Stage I-III disease after
at least one prior systemic therapy. It is a recombinant fusion protein that combines the IL-2 receptor binding domain with diphtheria
toxin (DT) fragments. The agent specifically binds to IL-2 receptors on the cell surface, causing diphtheria toxin fragments that have
entered cells to inhibit protein synthesis. After uptake into the cell, the DT fragment is cleaved and the free DT fragments inhibit
protein synthesis, resulting in cell death. Denileukin diftitox-cxdl-associated anti-tumor activity is achieved via a direct cytocidal
action on IL-2R-expressing tumors and depletion of host immunosuppressive regulatory T lymphocytes (Tregs).
In
2021, reformulated denileukin diftitox received regulatory approval in Japan for the treatment of relapsed or refractory CTCL and peripheral
T-cell lymphoma (PTCL). Subsequently, in 2021, Citius acquired an exclusive license with rights to develop and commercialize reformulated
denileukin diftitox in all markets except for India, Japan and certain parts of Asia. LYMPHIR (denileukin diftitox-cxdl) was approved
by the FDA and subsequently launched in the U.S. in December 2025.
REFERENCES:
| 1. | American
Cancer Society. Cancer Facts & Figures 2026 (projected). Atlanta: American
Cancer Society; 2026. https://www.cancer.org/cancer/types/endometrial-cancer/about/key-statistics.html |
| 2. | National
Cancer Institute. Surveillance, Epidemiology, and End Results Program (SEER). Cancer
Stat Facts: Uterine and Ovarian Cancer. https://seer.cancer.gov/statfacts/html/ovary.html |
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 CTCL market for LYMPHIR currently exceeds $400 million, is
growing, and is underserved by existing therapies. Robust intellectual property protections that span orphan drug designation, complex
technology, trade secrets and pending patents for immuno-oncology use as a combination therapy with checkpoint inhibitors would further
support Citius Oncology’s competitive positioning. For more information, please visit www.citiusonc.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 Oncology. 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; our ability to regain compliance with Nasdaq’s continued listing
standards; our ability to obtain, perform under and maintain third party agreements and relationships, including obtaining a new bulk
drug substance supplier; risks relating to the results of research and development activities, including those from our existing and
any new pipeline assets; early-stage clinical data may not be predictive of results from larger or later-stage studies; our ability to
secure and maintain strategic partnerships and expand international access to LYMPHIR; the estimated markets for LYMPHIR and our product
candidates and the acceptance thereof by any market; 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; our ability
to procure cGMP commercial-scale supply; 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. 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.
LYMPHIR
(denileukin diftitox-cxdl)
INDICATION
LYMPHIR
is an IL2-receptor-directed cytotoxin indicated for the treatment of adult patients with r/r Stage I-III cutaneous T-cell lymphoma (CTCL)
after at least one prior systemic therapy.
IMPORTANT
SAFETY INFORMATION
BOXED
WARNING: CAPILLARY LEAK SYNDROME
Capillary
leak syndrome (CLS), including life-threatening or fatal reactions, can occur in patients receiving LYMPHIR. Monitor patients for signs
and symptoms of CLS during treatment. Withhold LYMPHIR until CLS resolves, or permanently discontinue based on severity.
WARNINGS
AND PRECAUTIONS
Capillary
Leak Syndrome
LYMPHIR
can cause capillary leak syndrome (CLS), including life-threatening or fatal reactions. CLS was defined in the clinical trials as the
occurrence of at least 2 of the following symptoms at any time during LYMPHIR therapy: hypotension, edema, and serum albumin <3 g/dL.
These symptoms were not required to occur simultaneously to be characterized as capillary leak syndrome.
As
defined, CLS occurred in 27% of patients in the pooled population across 3 clinical trials, including 8% with Grade 3. There was one
(0.8%) fatal occurrence of CLS. Of the patients with CLS, 22% had recurrence. The majority of CLS events (81%) occurred within the first
2 cycles of treatment. The median time to onset from Cycle 1, Day 1 was 6.5 days (range: 1 to 77), the median duration of CLS was 14
days (range: 2 to 40), and 75% of patients had resolution. The most common symptoms included edema, hypoalbuminemia, and hypotension.
Pleural effusion, pericardial effusion, and dehydration also occurred.
Regularly
assess patients for weight gain, new onset or worsening of edema, dyspnea, and hypotension (including orthostatic changes). Monitor serum
albumin levels prior to the initiation of each cycle of therapy and more often as clinically indicated.
Withhold,
reduce dose, or permanently discontinue based on severity. If LYMPHIR is withheld, resume LYMPHIR following resolution of CLS and when
serum albumin is greater than or equal to 3 g/dL.
Visual
Impairment
LYMPHIR
can cause serious visual impairment, including changes in visual acuity and color vision. In the pooled population across 3 clinical
trials, visual impairment occurred in 9%, with Grade 1 in 8% and Grade 2 in 1%. The most commonly reported symptom was blurred vision.
Of the patients with visual impairment, 67% had resolution of their visual impairment.
Perform
baseline ophthalmic examination and monitor as clinically indicated. If patients experience symptoms of visual impairment, such as changes
in visual acuity, changes in color vision, or blurred vision, refer for ophthalmologic evaluation.
Withhold
LYMPHIR until visual impairment resolves or permanently discontinue based on severity.
Infusion-Related
Reactions
LYMPHIR
can cause serious infusion-related reactions. Infusion-related reactions were reported in 69% of patients in the pooled population across
3 clinical trials of patients who received LYMPHIR, with Grade 3 infusion-related reactions in 3.4%. Eighty-three percent of infusion-related
reactions occurred in Cycles 1 and 2. The most common symptoms included nausea, fatigue, chills, musculoskeletal pain, vomiting, fever,
and arthralgia.
Premedicate
patients for the first three cycles prior to starting a LYMPHIR infusion. Monitor patients frequently during infusion. For Grade 2 or
higher infusion reactions, premedicate at least 30 minutes prior to each subsequent infusion with a systemic steroid for at least 3 cycles.
Interrupt
or discontinue LYMPHIR based on severity. Institute appropriate medical management.
Hepatotoxicity
LYMPHIR
can cause hepatotoxicity. In the pooled safety population, elevated ALT occurred in 70% of patients, with Grade 3 ALT occurring in 22%;
elevated AST occurred in 64% of patients, with Grade 3 AST elevation occurring in 9%. For Grade 3 events, median time to onset was 8
days (range: 1 to 15 days); median time to resolution was 15 days (range: 7 to 50 days); all cases of Grade 3 ALT or AST elevations resolved.
Elevated total bilirubin occurred in 5% of patients, with Grade 3 occurring in 0.9%.
Monitor
liver enzymes and bilirubin at baseline and during treatment as clinically indicated. Withhold, reduce dose, or permanently discontinue
LYMPHIR based on severity.
Embryo-Fetal
Toxicity
Based
on its mechanism of action, LYMPHIR can cause fetal harm when administered to a pregnant woman. Verify the pregnancy status of females
of reproductive potential prior to the initiation of LYMPHIR. Advise pregnant women of the potential risk to the fetus. Advise females
of reproductive potential to use effective contraception during treatment and for 7 days following the last dose of LYMPHIR.
ADVERSE
REACTIONS
The
most common adverse reactions (≥20%), including laboratory abnormalities, are increased transaminases, albumin decreased, nausea,
edema, hemoglobin decreased, fatigue, musculoskeletal pain, rash, chills, constipation, pyrexia, and capillary leak syndrome.
USE
IN SPECIFIC POPULATIONS
Pregnancy
Risk
Summary
Based
on its mechanism of action, LYMPHIR can cause fetal harm when administered to a pregnant woman. There are no available data on the use
of LYMPHIR in pregnant women to evaluate for a drug-associated risk. No animal reproductive and developmental toxicity studies have been
conducted with denileukin diftitox.
Denileukin
diftitox-cxdl causes depletion of regulatory T lymphocytes (Treg), immune activation, and capillary leak syndrome, compromising pregnancy
maintenance. Advise pregnant women of the potential risk to a fetus.
In
the U.S. general population, the estimated background risk of major birth defects and miscarriage in clinically recognized pregnancies
are 2-4% and 15-20%, respectively.
Lactation
Risk
Summary
No
data are available regarding the presence of denileukin diftitox-cxdl in human milk, the effects on the breastfed child, or on milk production.
Because of the potential for serious adverse reactions in breastfed children, advise women not to breastfeed during treatment with LYMPHIR
and for 7 days after the last dose.
Females
and Males of Reproductive Potential
Based
on its mechanism of action, LYMPHIR can cause fetal harm when administered to a pregnant woman.
Pregnancy
Testing
Verify
the pregnancy status of females of reproductive potential prior to initiating LYMPHIR.
Contraception
Females
Advise
females of reproductive potential to use effective contraception during treatment with LYMPHIR and for 7 days after the last dose.
Infertility
Males
Based
on findings in rats, male fertility may be compromised by treatment with LYMPHIR. The reversibility of the effect on fertility is unknown.
Pediatric
Use
Safety
and effectiveness of LYMPHIR in pediatric patients have not been established.
Geriatric
Use
Of
the 69 patients with Stage I-III r/r CTCL who received LYMPHIR, 34 patients (49%) were 65 years of age and older and 10 patients (14%)
were 75 years of age and older. Clinical studies of LYMPHIR did not include sufficient numbers of patients 65 years of age and older
to determine whether they respond differently from younger adult patients.
You
may report side effects to the FDA at 1-800-FDA-1088 or www.fda.gov/medwatch. You may also report side effects to Citius Oncology at
1-844-459-6744.
Please
read Important Safety Information and full Prescribing Information, including Boxed WARNING, for LYMPHIR.
Investor
Contact:
Ilanit
Allen
ir@citiuspharma.com
908-967-6677
x113
Media
Contact:
STiR-communications
Greg
Salsburg
Greg@STiR-communications.com