#FDA Approval #CTXR #Citius Pharmaceuticals

Citius Pharmaceuticals Secures $3 Million in Registered Direct Offering

Citius Pharmaceuticals Inc. (Nasdaq: CTXR), a prominent name in the biopharmaceutical sector, has recently finalized agreements that will see the sale of 743,496 shares of its common stock at a market price of $4.035 per share. This strategic move, categorized as a registered direct offering, is expected to generate approximately $3 million for the company.

The offering's structure includes accompanying warrants aimed at enabling investors to purchase the same number of shares, with the exercise price set at $3.91. These warrants are designed for immediate exercise post-issuance and include a five-year expiration from the date they are activated. The closure of this offering is slated for on or around January 8, 2025, contingent upon traditional closing conditions being met.

H.C. Wainwright & Co. has been appointed as the exclusive placement agent for this offering, assisting Citius Pharmaceuticals in effectively navigating the financial landscape and maximizing its market presence. It's crucial to note that the gross proceeds mentioned will be subject to deductions for placement agent fees and other associated costs.

The primary aim of the funds raised through this offering is to bolster general corporate uses, specifically in advancing pre-clinical and clinical development of their promising product candidates, as well as providing capital for working expenses. Citius Pharma is noted for its dedication to developing groundbreaking critical care products, and this influx of capital is poised to play a significant role in achieving its corporate objectives and fostering innovation.

This offering falls under the company's existing