Citius Pharmaceuticals, Inc. Reports Fiscal Year 2025 Financial Results and Provides Business Update

Subsidiary, Citius Oncology, launches cancer immunotherapy, LYMPHIR™, in the U.S. in December 2025

CRANFORD, N.J., Dec. 23, 2025 /PRNewswire/ -- Citius Pharmaceuticals, Inc. ("Citius Pharma" or the "Company") (Nasdaq: CTXR), a biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products today reported business and financial results for the fiscal year ended September 30, 2025.

"2025 was a pivotal year for Citius as we successfully launched LYMPHIR following its FDA approval, marking the first new systemic therapy for cutaneous T-cell lymphoma (CTCL) patients since 2018. This milestone reflects our ability to execute and our commitment to delivering impactful treatments for patients with limited options," said Leonard Mazur, Chairman and CEO of Citius Pharma. "With LYMPHIR commercially available as of December 2025, we are focused on its successful launch and adoption in 2026, with even greater opportunities ahead to drive value for patients and shareholders. We are actively engaging with the FDA to advance Mino-Lok, exploring additional indications and markets for LYMPHIR, and working diligently to strengthen our financial and operational foundation to support sustained growth. We look forward to reporting on our continued progress in the coming months."

Fiscal Year 2025 Business Highlights and Subsequent Developments

Fiscal Year 2025 Financial Highlights

About Citius Oncology, Inc.

Citius Oncology, Inc. (Nasdaq: CTOR) is a platform to develop and commercialize novel targeted oncology therapies. In December 2025, Citius Oncology launched LYMPHIR, approved by the FDA for the treatment of adults with relapsed or refractory Stage I–III CTCL who had had at least one prior systemic therapy. Management estimates the initial market for LYMPHIR currently exceeds $400 million, is growing, and is underserved by existing therapies. Robust intellectual property protections that span orphan drug designation, complex technology, trade secrets and pending patents for immuno-oncology use as a combination therapy with checkpoint inhibitors would further support Citius Oncology's competitive positioning. For more information, please visit www.citiusonc.com.

About Citius Pharmaceuticals, Inc.

Citius Pharmaceuticals, Inc. (Nasdaq: CTXR) is a biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products. Citius Pharma owns approximately 78% of Citius Oncology. In December 2025, Citius Oncology launched LYMPHIR, a targeted immunotherapy for the treatment of adults with relapsed or refractory Stage I–III CTCL who had had at least one prior systemic therapy. Citius Pharma's late-stage pipeline also includes Mino-Lok ®, a catheter lock solution to salvage catheters in patients with catheter-related bloodstream infections, and CITI-002 (Halo-Lido), a topical formulation for the relief of hemorrhoids. A pivotal Phase 3 trial for Mino-Lok and a Phase 2b trial for Halo-Lido were completed in 2023. Mino-Lok met primary and secondary endpoints of its Phase 3 trial. Citius Pharma is actively engaged with the FDA to outline next steps for both programs. For more information, please visit www.citiuspharma.com.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are made based on our expectations and beliefs concerning future events impacting Citius Pharma and Citius Oncology. You can identify these statements by the fact that they use words such as "will," "anticipate," "estimate," "expect," "plan," "should," and "may" and other words and terms of similar meaning or use of future dates. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated, and, unless noted otherwise, that apply to Citius Pharma and Citius Oncology, are: our need for substantial additional funds and our ability to raise additional money to fund our operations for at least the next 12 months as a going concern; our ability to successfully commercialize LYMPHIR and establish a sustainable revenue stream; the estimated markets for LYMPHIR and our product candidates and the acceptance thereof by any market; our ability to secure strategic partnerships and expand international access to LYMPHIR; our ability to use the latest technology to support our commercialization efforts for LYMPHIR; physician and patient acceptance of LYMPHIR in a competitive treatment landscape; our reliance on third-party logistics providers, distributors, and specialty pharmacies to support commercial operations; our ability to educate providers and payers, secure adequate reimbursement, and maintain uninterrupted product supply; post-marketing requirements and ongoing regulatory compliance related to LYMPHIR; the ability of LYMPHIR and our product candidates to impact the quality of life of our target patient populations; risks relating to the results of research and development activities, including those from our existing and any new pipeline assets; our ability to procure cGMP commercial-scale supply; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our ability to maintain Nasdaq's continued listing standards; market and other conditions; risks related to our growth strategy; patent and intellectual property matters; our ability to identify, acquire, close and integrate product candidates and companies successfully and on a timely basis; government regulation; as well as other risks described in our Securities and Exchange Commission ("SEC") filings. These risks have been and may be further impacted by any future public health risks. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements. Risks regarding our business are described in detail in our SEC filings which are available on the SEC's website at www.sec.gov, including in Citius Oncology's Annual Report on Form 10-K for the year ended September 30, 2025, filed with the SEC on December 23, 2025. These forward-looking statements speak only as of the date hereof, and we expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

Investor Contact:

Ilanit Allen

[email protected]

908-967-6677 x113

Media Contact:

STiR-communications

Greg Salsburg

[email protected]

-- Financial Tables Follow –

CITIUS PHARMACEUTICALS, INC.

CONSOLIDATED BALANCE SHEETS

SEPTEMBER 30, 2025 AND 2024

2025

2024

ASSETS

Current Assets:

Cash and cash equivalents

4,252,290

3,251,880

Inventory

22,286,693

8,268,766

Prepaid expenses

1,395,490

2,700,000

Total Current Assets

27,934,473

14,220,646

Operating lease right-of-use asset, net

818,694

246,247

Other Assets:

Deposits

38,062

In-process research and development

92,800,000

Goodwill

9,346,796

Total Other Assets

102,184,858

Total Assets

130,938,025

116,651,751

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities:

Accounts payable

13,693,692

4,927,211

License payable

22,650,000

28,400,000

Accrued expenses

4,190,253

17,027

Accrued compensation

3,292,447

2,229,018

Note payable

1,000,000

—

Operating lease liability

88,348

241,547

Total Current Liabilities

44,914,740

35,814,803

Deferred tax liability

7,770,760

6,713,800

Operating lease liability – non current

724,925

21,318

Total Liabilities

53,410,425

42,549,921

Commitments and Contingencies

Stockholders' Equity:

Preferred stock - $0.001 par value; 10,000,000 shares authorized; no shares issued

and outstanding

—

Common stock - $0.001 par value; 250,000,000 and 16,000,000 shares authorized at

September 30, 2025 and 2024, respectively; 18,067,744 and 7,247,243 shares

issued and outstanding at September 30, 2025 and 2024, respectively

18,068

7,247

Additional paid-in capital

306,336,239

271,440,421

Accumulated deficit

(238,804,129)

(201,370,218)

Total Citius Pharmaceuticals, Inc. Stockholders' Equity

67,550,178

70,077,450

Non-controlling interest

9,977,422

4,024,380

Total Equity

77,527,600

74,101,830

Total Liabilities and Equity

130,938,025

116,651,751

CITIUS PHARMACEUTICALS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE YEARS ENDED SEPTEMBER 30, 2025 AND 2024

2025

2024

Revenues

—

Operating Expenses:

Research and development

9,156,474

11,906,601

General and administrative

18,532,843

18,249,402

Stock-based compensation – general and administrative

10,836,291

11,839,678

Total Operating Expenses

38,525,608

41,995,681

Operating Loss

(38,525,608)

(41,995,681)

Other Income (Expense):

Interest income

110,081

758,000

Interest expense

(267,782)

—

Gain on sale of New Jersey net operating losses

—

2,387,842

Total Other Income (Expense), Net

(157,701)

3,145,842

Loss before Income Taxes

(38,683,309)

(38,849,839)

Income tax expense

1,056,960

576,000

Net Loss

(39,740,269)

(39,425,839)

Net loss attributable to non-controlling interest

2,306,358

287,000

Deemed dividend on warrant extension

—

(1,047,312)

Net Loss Applicable to Common Stockholders

(37,433,911)

(40,186,151)

Net Loss Per Share Applicable to Common Stockholders - Basic and Diluted

(3.38)

(5.97)

Weighted Average Common Shares Outstanding

Basic and diluted

11,065,225

6,726,999

CITIUS PHARMACEUTICALS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED SEPTEMBER 30, 2025 AND 2024

2025

2024

Cash Flows From Operating Activities:

Net loss

(39,740,269)

(39,425,839)

Adjustments to reconcile net loss to net cash used in operating activities:

Stock-based compensation

10,836,291

11,839,678

Issuance of common stock for services

26,600

284,176

Amortization of operating lease right-of-use asset

214,250

208,179

Depreciation

—

1,432

Deferred income tax expense

1,056,960

576,000

Changes in operating assets and liabilities:

Inventory

(12,649,207)

(2,133,871)

Prepaid expenses

(64,210)

(945,389)

Accounts payable

8,766,481

1,999,877

Accrued expenses

4,173,226

(459,273)

Accrued compensation

1,063,429

72,035

Operating lease liability

(236,289)

(218,380)

Net Cash Used In Operating Activities

(26,552,738)

(28,201,375)

Cash Flows From Investing Activities:

License payment

(5,750,000)

(5,000,000)

Net Cash Used In Investing Activities

(5,750,000)

(5,000,000)

Cash Flows From Financing Activities:

Proceeds from note payable and advance from employee

1,300,000

—

Repayment of advance from employee

(300,000)

—

Merger, net

—

(3,831,357)

Net proceeds from common stock offerings

32,303,148

13,803,684

Net Cash Provided By Financing Activities

33,303,148

9,972,327

Net Change in Cash and Cash Equivalents

1,000,410

(23,229,048)

Cash and Cash Equivalents – Beginning of Year

3,251,880

26,480,928

Cash and Cash Equivalents – End of Year

4,252,290

3,251,880

Supplemental Disclosures of Cash Flow Information and Non-cash Activities:

IPR&D Milestones included in License Payable

—

28,400,000

Net Prepaid Manufacturing transferred to Inventory

1,368,720

6,134,895

Operating lease right-of-use asset and liability recorded

786,697

—

Interest paid

187,389

—

SOURCE Citius Pharmaceuticals, Inc.