Business
Citius Pharmaceuticals, Inc. Reports Fiscal First Quarter 2022 Financial Results and Provides Business Update
Strong balance sheet with $65.4 million in cash and cash equivalents as of December 31, 2021 and no debt Topline results of Pivotal Phase 3 trial in cancer
About this update from Citius Pharmaceuticals, Inc.
[{"type":"text","content":"Strong balance sheet with $65.4 million in cash and cash equivalents as of December 31, 2021 and no debt\n Topline results of Pivotal Phase 3 trial in cancer immunotherapy I/ONTAK for the treatment of cutaneous T-cell lymphoma expected 1H 2022; BLA submission planned for 2H 2022\n Mino-Lok® Phase 3 trial progressed despite Covid-19-related recruitment challenges\n\n\nCRANFORD, N.J., Feb. 10, 2022 /PRNewswire/ -- Citius Pharmaceuticals, Inc. (\"Citius\" or the \"Company\") (Nasdaq: CTXR), a late-stage biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products with a focus on oncology, anti-infective products in adjunct cancer care, unique prescription products, and stem cell therapies, today reported business and financial results for the first fiscal quarter of 2022 ended December 31, 2021.\nFiscal Q1 2022 Business Highlights and Subsequent Developments\nPivotal Phase 3 trial of I/ONTAK (E7777) completed in December 2021 with topline results anticipated in the first half of 2022 and a biologics license application (BLA) submission planned in the second half of 2022; Mino-Lok® Phase 3 trial completion anticipated in 2022; and, Regulatory, manufacturing, clinical and commercial capabilities expanded to support late-stage pipeline with the addition of seasoned executives with extensive pharmaceutical industry experience: Catherine Kessler MS – EVP, Regulatory Affairs Kelly Creighton, PhD – EVP, Chemistry, Manufacturing and Controls Kevin Carey – VP, Program Management Preeti Singh, MD – Medical DirectorFinancial Highlights\nCash and cash equivalents of $65.4 million as of December 31, 2021; R&D expenses were $5.5 million for the first quarter ended December 31, 2021, compared to $6.2 million for the first quarter ended December 31, 2020; G&A expenses were $2.9 million for the first quarter ended December 31, 2021, compared to $1.7 million for the first quarter ended December 31, 2020; Stock-based compensation expense was $0.9 million for the first quarter ended December 31, 2021, compared to $0.3 million for the first quarter ended December 31, 2020; and, Net loss was $9.2 million, or ($0.06) per share for the first quarter ended December 31, 2021, compared to a net loss of $8.1 million, or ($0.15) per share for the first quarter ended December 31, 2020.\"We anticipate 2022...