Citius Pharmaceuticals raises $5 million in registered direct offering

Citius Pharmaceuticals Inc. (NASDAQ: CTXR) entered into an agreement to sell 5,076,143 shares of common stock at $0.985 per share in a registered direct offering, the company announced April 24.

The biopharmaceutical company will receive approximately $5 million in gross proceeds before deducting placement agent fees and other offering expenses. H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering.

In a concurrent private placement, Citius will issue warrants to purchase up to 5,076,143 shares at an exercise price of $0.86 per share. The warrants will be exercisable immediately upon issuance and expire five years after the effective date of a registration statement covering the underlying shares.

The company plans to use the net proceeds to support the commercial launch of LYMPHIR, including milestone and regulatory payments, development initiatives for product candidates, and general corporate purposes.

The offering is being conducted under a shelf registration statement filed with the Securities and Exchange Commission on February 23, 2024, and declared effective March 1, 2024. The closing is expected to occur April 24, subject to customary closing conditions.

Citius Pharmaceuticals develops critical care products and owns approximately 71% of Citius Oncology. In December 2025, Citius Oncology launched LYMPHIR, a targeted immunotherapy for adults with relapsed or refractory Stage I-III cutaneous T-cell lymphoma who have received at least one prior systemic therapy.

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