Citius Pharmaceuticals, Inc. Reports Fiscal Second Quarter 2026 Financial Results and Provides Business Update
$5.6 Million in net revenue for the first half of fiscal 2026 from ongoing launch of LYMPHIR ®
Citius Pharma raised $5 million in a registered direct offering; Citius Oncology secured up to $36.5 million in debt and equity financing
Advanced patient access with payer coverage near 100% of commercial lives and 83% of LYMPHIR target accounts on formulary or in review
CRANFORD, N.J., May 15, 2026 /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 second quarter ended March 31, 2026, and provided a business update, including progress at its majority-owned subsidiary, Citius Oncology, Inc. (Nasdaq: CTOR).
"The first half of fiscal 2026 demonstrated meaningful commercial progress at our majority-owned subsidiary Citius Oncology. In the four months of commercial sales since the December 2025 launch of LYMPHIR, Citius Oncology generated $5.6 million in net revenue at approximately 80% gross margins, advanced 83% of target accounts to formulary inclusion or active review, and secured payer coverage representing near 100% of covered commercial lives with no reimbursement denials reported to date. Importantly, major academic centers have begun to transition patients to local community infusion centers for treatment, a critical next phase of commercial scaling. These results reflect our efforts to build a durable patient access foundation upon which to drive growth," said Leonard Mazur, Chairman and Chief Executive Officer of Citius Pharma and Citius Oncology.
"Subsequent to quarter end, Citius Oncology secured up to $36.5 million in combined debt and equity financing through its senior secured credit facility with Avenue Capital and the exercise of outstanding warrants, complemented by Citius Pharma's $5 million registered direct offering. Together, these proceeds are expected to fund Citius Pharma's activities as well as the completion of the LYMPHIR commercial field force buildout by mid-summer. This will support expanded physician engagement and broader market penetration, positioning Citius Oncology to accelerate growth as the launch matures. We believe Citius Oncology maintains sufficient inventory to support anticipated commercial demand, as well as additional demand outside the U.S., as we begin to see orders for product through our global distribution partners."
"Moreover, we are encouraged by positive preliminary topline Phase 1 data from two investigator-initiated combination studies, with pembrolizumab and prior to CAR-T therapy, which reinforce LYMPHIR's potential as a platform asset in combination regimens. At the Citius Pharma level, we also remain focused on advancing Mino-Lok and Halo-Lido with the FDA and on disciplined execution of our mission to bring first-in-class therapies to patients," concluded Mazur.
Fiscal Second Quarter 2026 Business Highlights and Subsequent Developments
Fiscal Second Quarter 2026 Financial Highlights and Subsequent Events
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 71% 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 Pharmaceuticals. 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 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 obtain, perform under and maintain financing, strategic and third party agreements and relationships, including obtaining a new bulk drug substance supplier; our ability to regain compliance with Nasdaq's continued listing standards; 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 any new pipeline assets; our ability to procure cGMP commercial-scale supply; market and other conditions; risks related to our growth strategy; patent and intellectual property matters; 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 and as amended on January 28, 2026. 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.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
March 31,
September 30,
2026
2025
ASSETS
Current Assets:
Cash and cash equivalents
$
4,590,174
$
4,252,290
Accounts receivable, net of allowances
1,079,055
-
Inventory
22,659,590
22,286,693
Prepaid expenses
3,356,882
1,395,490
Total Current Assets
31,685,701
27,934,473
Operating lease right-of-use asset, net
794,518
818,694
Deposits
38,062
38,062
In-process research and development, net of accumulated amortization
90,506,250
92,800,000
Deferred financing costs
169,252
-
Goodwill
9,346,796
9,346,796
Total Other Assets
100,060,360
102,184,858
Total Assets
$
132,540,579
$
130,938,025
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable
$
9,453,803
$
13,693,692
License payable
17,650,000
22,650,000
Accrued expenses
24,138,264
4,190,253
Accrued compensation
3,602,007
3,292,447
Note payable
-
1,000,000
Operating lease liability
171,495
88,348
Total Current Liabilities
55,015,569
44,914,740
Deferred tax liability
7,803,790
7,770,760
Operating lease liability – noncurrent
636,667
724,925
Total Liabilities
63,456,026
53,410,425
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 shares authorized; 22,376,427 and
18,067,744 shares issued and outstanding at March 31, 2026 and September 30,
2025, respectively
22,376
18,068
Additional paid-in capital
329,775,214
306,336,239
Accumulated deficit
(268,256,054)
(238,804,129)
Total Citius Pharmaceuticals, Inc. Stockholders' Equity
61,541,536
67,550,178
Non-controlling interest
7,543,017
9,977,422
Total Equity
69,084,553
77,527,600
Total Liabilities and Equity
$
132,540,579
$
130,938,025
CITIUS PHARMACEUTICALS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE AND SIX MONTHS ENDED MARCH 31, 2026 AND 2025
(Unaudited)
Three Months Ended
Six Months Ended
March 31,
March 31,
March 31,
March 31,
2026
2025
2026
2025
Revenues
$
1,667,298
$
—
$
5,611,409
$
—
Cost of revenues
(328,878)
—
(1,118,086)
—
Gross Profit
1,338,420
—
4,493,323
—
Operating Expenses
Research and development
1,633,518
3,766,525
3,233,237
5,893,563
Amortization of in-process research and development
1,720,312
—
2,293,750
—
General and administrative
26,391,101
4,792,122
32,111,828
10,179,874
Stock-based compensation – general and administrative
3,788,275
2,702,031
8,068,502
5,226,855
Total Operating Expenses
33,533,206
11,260.678
45,707,317
21,300,292
Operating Loss
(32,194,786)
(11,260,678)
(41,213,994)
(21,300,292)
Other Income (Expense)
Interest income
53,584
13,413
98,681
36,021
Gain on sale of New Jersey net operating losses
3,833,277
—
3,833,277
—
Interest expense
(33,031)
—
(188,569)
—
Total Other Income, Net
3,853,830
13,413
3,743,389
36,021
Loss before Income Taxes
(28,340,956)
(11,247,265)
(37,470,605)
(21,264,271)
Income tax expense (benefit)
(231,210)
264,240
33,030
528,480
Net Loss
(28,109,746)
(11,511,505)
(37,503,635)
(21,792,751)
Net loss attributable to non-controlling interest
6,878,606
595,000
8,051,710
1,108,000
Net loss applicable to common stockholders
$
(21,231,140)
$
(10,916,505)
$
(29,451,925)
$
(20,684,751)
Net Loss Per Share - Basic and Diluted
$
(0.95)
$
(1.27)
$
(1.34)
$
(2.58)
Weighted Average Common Shares Outstanding
Basic and diluted (includes pre-funded warrants from the
October 2025 offering)
22,376,427
8,581,207
21,931,009
8,029,834
CITIUS PHARMACEUTICALS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED MARCH 31, 2026 AND 2025
(Unaudited)
2026
2025
Cash Flows From Operating Activities:
Net loss
$
(37,503,635)
$
(21,792,751)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense
8,068,502
5,226,855
Issuance of common stock for services
107,510
-
Issuance of common stock warrant
68,597
-
Amortization of in-process research and development
2,293,750
-
Amortization (accretion) of operating lease right-of-use asset
24,176
110,845
Deferred income tax expense
33,030
528,480
Changes in operating assets and liabilities:
Accounts receivable, net of allowances
(1,079,055)
-
Inventory
(372,897)
(7,070,487)
Prepaid expenses
(1,961,392)
(308,791)
Accounts payable
(4,239,889)
4,441,023
Accrued expenses
19,948,011
8,762,217
Accrued compensation
309,560
955,048
Operating lease liability
(5,111)
(117,767)
Net Cash Used In Operating Activities
(14,308,843)
(9,265,328)
Cash Flows From Investing Activities:
License fee payments
(5,000,000)
—
Net Cash Used in Investing Activities
(5,000,000)
—
Cash Flows From Financing Activities:
Repayment of note payable
(1,000,000)
—
Deferred financing costs
(169,252)
—
Proceeds from exercise of Citius Oncology pre-funded warrants
818
—
Net proceeds from common stock offerings
20,815,161
6,039,858
Net Cash Provided By Financing Activities
19,646,727
6,039,858
Net Change in Cash and Cash Equivalents
337,884
(3,225,470)
Cash and Cash Equivalents - Beginning of Period
4,252,290
3,251,880
Cash and Cash Equivalents - End of Period
$
4,590,174
$
26,410
Supplemental Disclosures of Cash Flow Information and Non-cash Transactions:
Interest paid
$
105,310
$
—
Operating lease right-of-use asset and liability recorded
$
—
$
786,697
SOURCE Citius Pharmaceuticals, Inc.