The Company recently announced a $3 Million Equity Investment from their Executive Chairman, Mr. Leonard Mazur.
The financial commitment reiterates management's confidence in Citius' strong portfolio and overall growth potential.
Citius made significant strides in both the development and commercialization efforts of their 2 premier products; Mino-Lok™ and Hydro-Lido.
The Company completed a feasibility study of major academic sites with respect to conducting phase 3 trials for its Mino-Lok™ product, and has identified sites that are interested in participation.
The Company reported positive results from the Phase 2a trial of their Hydrocortisone and Lidocaine combination product in patients with Grade I and II hemorrhoids.
The Mino-Lok™ product is an antibiotic lock solution used to treat patients with catheter-related bloodstream infections (CRBSIs). CRBSIs are very serious, especially in cancer patients receiving therapy through central venous catheters (CVCs), and in hemodialysis patients where maintaining venous access presents a challenge. Central venous catheters (CVCs) are life-saving vascular access ports in many patients requiring long-term intravenous therapy. Approximately 7 million CVCs are used annually and about 500,000 of those result in CRBSIs leading to serious, life threatening infections and morbidities.
The Company's topical Hydro-Lido product is being developed to provide anti-inflammatory and anesthetic relief to persons suffering from hemorrhoids. Hemorrhoids are a common gastrointestinal disorder characterized by pain, swelling, itching, tenderness, and bleeding. Hemorrhoids affect nearly 5% of the U.S. population, with 10 million patients reporting symptoms and a third seeking treatment from doctors. Between 50% and 90% of the U.S. population will experience inflamed hemorrhoids in their lifetime. Currently, over 25 million units of topical products for hemorrhoids are sold annually in the U.S. The estimated prescription market in the U.S. is over $1.0 billion.
In addition to product development, Citius strengthened its leadership and executive management team with the addition of Myron Holubiak as the Company's President and CEO. Mr. Holubiak is the former President of Roche Laboratories, Inc., a major research-based pharmaceutical company. Mr. Holubiak stated, "We are extremely pleased with the progress that we have made during the previous 12 months. We are confident that we have built a strong platform to realize our goal of becoming an important player in the critical care space and in adjunctive cancer care. We also have the luxury of owning an asset in Hydro-Lido that has the potential to be the first prescription hemorrhoid treatment with evidence of efficacy and safety. We still have a lot of work to do, but we've made significant progress towards addressing previously unmet and underserved medical needs. We believe that the commercial opportunities for Mino-Lok™ and Hydro-Lido, combined with current industry towards cost-effective therapies will allow us to create new markets and enhance our shareholder value."
Recent CTXR News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/13/2024 12:30:09 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/11/2024 09:26:01 PM
- Citius Pharmaceuticals to Participate in the H.C. Wainwright 26th Annual Global Investment Conference • PR Newswire (US) • 09/05/2024 08:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/05/2024 08:15:10 PM
- Citius Pharmaceuticals, Inc. and Citius Oncology, Inc. Announce LYMPHIR™ (Denileukin Diftitox-cxdl) Added to National Comprehensive Cancer Network (NCCN) Clinical Practice Guidelines in Oncology • PR Newswire (US) • 09/05/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/30/2024 08:01:05 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/30/2024 08:01:03 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/16/2024 08:35:55 PM
- Form SC 13D - General Statement of Acquisition of Beneficial Ownership • Edgar (US Regulatory) • 08/16/2024 08:34:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/14/2024 10:25:24 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 08/14/2024 10:19:43 PM
- Citius Pharmaceuticals, Inc. Reports Fiscal Third Quarter 2024 Financial Results and Provides Business Update • PR Newswire (US) • 08/12/2024 09:28:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/12/2024 09:25:09 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 08/12/2024 09:10:24 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/12/2024 08:51:13 PM
- Citius Pharmaceuticals Completes Merger of Subsidiary with TenX Keane to form Citius Oncology, Inc. • PR Newswire (US) • 08/12/2024 08:22:00 PM
- Citius Pharmaceuticals to Host Investor Call to Discuss Recent and Upcoming Developments • PR Newswire (US) • 08/12/2024 12:00:00 PM
- TenX Keane Acquisition Addresses Trading Halt, Continues Towards Closing of Business Combination, and Provides Market Update • GlobeNewswire Inc. • 08/09/2024 11:30:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 01:20:18 PM
- Citius Pharmaceuticals Receives FDA Approval for LYMPHIR™ (denileukin diftitox-cxdl) Immunotherapy for the Treatment of Adults with Relapsed or Refractory Cutaneous T-Cell Lymphoma • PR Newswire (US) • 08/08/2024 10:59:00 AM
- Citius Pharmaceuticals Announces TenX Keane Shareholder Approval of Merger with Citius Oncology, Inc. • PR Newswire (US) • 08/05/2024 12:00:00 PM
- TenX Keane Acquisition Shareholders Approve Previously Announced Merger to Form Citius Oncology, Inc., a Publicly Listed Subsidiary of Citius Pharmaceuticals • GlobeNewswire Inc. • 08/05/2024 12:00:00 PM
- Citius Pharmaceuticals Details Near-Term Milestones for Late-Stage Candidates • PR Newswire (US) • 07/10/2024 01:10:00 PM
- Citius Pharmaceuticals to Host Investor Call to Discuss Topline Results of Phase 3 Trial of Mino-Lok Antibiotic Lock Solution • PR Newswire (US) • 05/29/2024 12:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/21/2024 08:05:34 PM
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