Citius Pharmaceuticals, Inc. (NASDAQ: CTXR) is Specializing in Stem Cell Therapy & Critical Cancer Care Immunotherapy
By: Get News
May 11, 2022 at 18:21 PM EDT
CTXR has no debt on its balance sheet, which is rare for a loss-making pharma, which typically has high debt relative to its equity
Citius Pharmaceuticals, Inc. (NASDAQ: CTXR) Recent Highlights and Upcoming Milestones
“2022 is a year of important catalysts for Citius as we continue to make progress on multiple fronts. We recently released topline results for I/ONTAK which were consistent with the prior FDA-approved and marketed formulation of denileukin diftitox (ONTAK). In preparation for a planned BLA submission in the second half of 2022, we are marshalling the necessary manufacturing and commercial resources to support the application, and ultimately a successful launch,” stated Leonard Mazur, Chairman and CEO of Citius.
“Our Mino-Lok program continues to advance in accordance with the recommendations of the independent data monitoring committee, which advised us to continue with the trial as planned, following each of its three data reviews. We remain encouraged by the positive signal conveyed by the DMC guidance to proceed. Coupled with the recent ramp up in patient recruitment following an easing of COVID-related hospital restrictions, we believe our efforts to increase engagement with existing trial sites and to onboard additional sites will continue to drive trial enrollment and enable us to achieve the necessary trial events to support statistically significant results,” added Mazur.
“In April, we initiated our Phase 2b Halo-Lido trial for the treatment of hemorrhoids. By the end of 2022, we expect to complete trial enrollment. A data readout will follow upon validation and analysis of the information provided in the electronic patient reported outcome tool (ePRO) designed with guidance from the FDA. The results will be used to design the Phase 3 trial. As this product would ultimately be marketed directly to consumers, rather than to targeted physician and hospital groups like our other pipeline candidates, we will evaluate alternatives to optimize the value of this asset as we advance the program. Citius considers all strategic alternatives to maximize the value of our portfolio, individually and collectively, on an ongoing basis. We believe we remain well capitalized to advance our programs through multiple catalysts this year, and we plan to continue building long-term value in the business by focusing on execution,” concluded Mr. Mazur.
2022 Achieved and Anticipated Catalysts
Citius Pharmaceuticals, Inc. (NASDAQ: CTXR) is a late-stage biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products, with a focus on oncology, anti-infectives in adjunct cancer care, unique prescription products, and stem cell therapies. CTXR has two late-stage product candidates, Mino-Lok(R), an antibiotic lock solution for the treatment of patients with catheter-related bloodstream infections (CRBSIs), which is currently enrolling patients in a Phase 3 Pivotal superiority trial, and I/ONTAK (E7777), a novel IL-2R immunotherapy for an initial indication in cutaneous T-cell lymphoma (CTCL), which has completed enrollment in its Pivotal Phase 3 trial. Mino-Lok(R) was granted Fast Track designation by the U.S. Food and Drug Administration (FDA). I/ONTAK has received orphan drug designation by the FDA for the treatment of CTCL and peripheral T-cell lymphoma (PTCL).
Through its subsidiary, NoveCite, Inc., CTXR is developing a novel proprietary mesenchymal stem cell treatment derived from induced pluripotent stem cells (iPSCs) for acute respiratory conditions, with a near-term focus on acute respiratory distress syndrome (ARDS) associated with COVID-19.
Leonard Mazur named Chairman of the Board of Directors and CEO of CTXR.
Co-founder, Myron Holubiak to transition from President & CEO to Executive Vice Chairman of the Board of Directors to build commercial capabilities.
Jaime Bartushak, Chief Financial Officer, to assume additional responsibilities as Chief Business Officer.
For more information on Citius Pharmaceuticals, Inc. (NASDAQ: CTXR) visit http://www.citiuspharma.com
The products mentioned are THC-free and/or compliant with the 2018 Farm Bill.
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