Business
Citius Pharmaceuticals, Inc. Reports Fiscal Full Year 2021 Financial Results and Provides Business Update
$70.1 million in cash and cash equivalents as of September 30, 2021 to advance pipeline Completed treatment phase of Pivotal Phase 3 trial in cancer
About this update from Citius Pharmaceuticals, Inc.
[{"type":"text","content":"$70.1 million in cash and cash equivalents as of September 30, 2021 to advance pipeline\n Completed treatment phase of Pivotal Phase 3 trial in cancer immunotherapy I/ONTAK for the treatment of cutaneous T-cell lymphoma\n Independent Data Monitoring Committee recommended continuing the Mino-Lok® Phase 3 clinical superiority trial as planned without modifications; no safety concerns identified\n\n\n\n CRANFORD, N.J., Dec. 15, 2021 /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 fiscal full year ended September 30, 2021.\nFiscal Full Year 2021 Business Highlights and Subsequent Developments\nCompleted subject treatment in December 2021 in Pivotal Phase 3 trial of I/ONTAK (E7777) with topline results anticipated in the first half of 2022 and a biologics license application (BLA) submission in the second half of 2022; Acquired Dr. Reddy's Laboratories' license for late-Phase 3 oncology immunotherapy I/ONTAK for the treatment of cutaneous T-cell lymphoma (CTCL) and other cancer indications; Received third positive recommendation from independent Data Monitoring Committee to continue the Mino-Lok® Phase 3 clinical superiority trial as planned without modifications; no safety concerns identified; Completed dose-ranging proof-of-concept sheep study of iPSC-derived novel induced-mesenchymal stem cells (i-MSCs) for the treatment of acute respiratory distress syndrome (ARDS); analysis and documentation underway for peer-reviewed publication submission; Expanded clinical, manufacturing and commercial capabilities with the addition of seasoned pharmaceutical executives; Citius added to the Russell 3000® and 2000® indexes; and, Raised net proceeds of $120.6 million in financing activities during the year. Financial Highlights\nCash and cash equivalents of $70.1 million as of September 30, 2021; R&D expenses were $12.2 million for the full year ended September 30, 2021, compared to $8.8 million for the full year ended September 30, 2020; G&A expenses were $9.8 million for the full year ended...