Citius Announces $5.3 Million Registered Direct Offering Priced At-the-Market

About this update from Citius Pharmaceuticals, Inc.

[{"type":"text","content":" CRANFORD, N.J., April 1, 2019 /PRNewswire/ -- Citius Pharmaceuticals Inc. (Nasdaq: CTXR), a specialty pharmaceutical company focused on adjunctive cancer care and critical care drug products, today announced that it has entered into definitive agreements with several institutional and accredited investors for the purchase of 3,430,421 shares of its common stock, at a purchase price per share of $1.545 for gross proceeds of approximately $5.3 million, in a registered direct offering priced at-the-market. Additionally, Citius has also agreed to issue to the investors unregistered warrants to purchase up to 3,430,421 shares of common stock. The closing of the offering is expected to occur on or about April 3, 2019, subject to the satisfaction of customary closing conditions. \nH.C. Wainwright & Co. is acting as exclusive placement agent for the offering.\nThe warrants have an exercise price of $1.42 per share, will be immediately exercisable, and will expire two years from the issue date.\nCitius intends to use the net proceeds from the offering for general corporate purposes, including its Phase 3 clinical Mino-Lok trial for the treatment of catheter related bloodstream infections, its Phase 2b clinical trial of Halobetasol-Lidocaine cream for the treatment of hemorrhoids, development of Mino-Wrap , a liquefying gel-based wrap containing minocycline and rifampin for reducing tissue expander (TE) infections following breast reconstructive surgeries, and working capital and capital expenditures.\nThe shares of common stock described above (but not the warrants or the shares of common stock underlying the warrants) are being offered pursuant to a \"shelf\" registration statement (File 333-221492) filed with the Securities and Exchange Commission (SEC) and declared effective on December 15, 2017. Such shares of common stock may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC. Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, ...

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