Citius Pharmaceuticals raises $6 million in registered direct offering

Citius Pharmaceuticals Inc. (NASDAQ: CTXR) announced it entered into a definitive agreement for a registered direct offering to raise approximately $6.0 million in gross proceeds.

The biopharmaceutical company will sell 3,973,510 shares of common stock at $1.51 per share, along with accompanying warrants to purchase an additional 3,973,510 shares. The warrants have an exercise price of $1.40 per share, are exercisable immediately upon issuance, and expire five years from the initial exercise date.

H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering. The transaction is expected to close on or about October 21, 2025, subject to customary closing conditions.

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

The securities are being offered under a shelf registration statement filed with the Securities and Exchange Commission on February 23, 2024, and declared effective on March 1, 2024.

Citius Pharmaceuticals focuses on developing critical care products. The FDA approved its LYMPHIR immunotherapy for cutaneous T-cell lymphoma treatment in August 2024. The company's pipeline includes Mino-Lok, an antibiotic lock solution, and CITI-002 for hemorrhoid relief.

Information in this article is based on the company's press release statement.

You May Also Be Interested In

• Osprey Acquisition Corp. III raises $300M in Nasdaq IPO
• Cosmos Health buyback reaches 3.42M shares at ~$650,000 spent
• Meridian3 Industrials prices $175M IPO on Nasdaq