Notable News Spotlight: Citius Pharmaceuticals (NASDAQ:CTXR)

Citius Pharmaceuticals (NASDAQ:CTXR) spotted trading -71.43% off 52-week high price. On the other end, the stock has been noted 0.00% away from the low price over the last 52-weeks. The stock changed -5.57% to recent value of $0.72. The stock transacted 396723 shares during most recent day however it has an average volume of 116.43K shares. The company has 23.33M of outstanding shares and 12.56M shares were floated in the market.  

On Sept. 27, 2019, Citius Pharmaceuticals (NASDAQ:CTXR) a specialty pharmaceutical company focused on adjunctive cancer care and critical care drug products, revealed the closing of the previously announced underwritten at-the-market offering of 7,821,230 shares of its common stock (Common Stock) (or Common Stock equivalent) and common warrants to purchase up to an aggregate of 7,821,230 shares of Common Stock (the Offering). Each share of Common Stock (or Common Stock equivalent) was sold together with a common warrant to purchase one share of Common Stock at a combined effective price of $0.8951 per share and accompanying common warrant. The Company has granted the underwriter a 30-day option to purchase up to an additional 1,173,184 shares of Common Stock and/or common warrants to purchase up to 1,173,184 shares of Common Stock.

H.C. Wainwright & Co. acted as the sole book-running manager for the Offering.

The gross proceeds of the Offering were approximately $7.0 million and the net proceeds from the Offering were approximately $6.1 million, after deducting underwriting discounts and commissions and other offering expenses. Citius intends to use the net proceeds from the Offering for general corporate purposes, including its Phase 3 clinical Mino-Lok trial for the treatment of catheter related bloodstream infections, the investigational new drug (IND) regulatory pathway for Mino-Wrap and its Phase 2b clinical trial of Halo-Lido cream for the treatment of hemorrhoids, and working capital and capital expenditures.

The common warrants issued in the Offering are exercisable immediately at an exercise price of $0.77 per share and will expire five years from the date of issuance.

 Its earnings per share (EPS) expected to touch remained 38.30% for this year.

 According to the most recent quarter its current ratio was 1.1 that represents company’s ability to meet its current financial obligations. The price moved ahead of -27.66% from the mean of 20 days, -33.00% from mean of 50 days SMA and performed -35.78% from mean of 200 days price. Company’s performance for the week was -24.21%, -30.16% for month and YTD performance remained -30.77%.

Leave a Reply

Your email address will not be published. Required fields are marked *