Still think TITNC3: Return of the Iceberg was peak

TreeFortRichard · Dec 16, 2021

98tacoma27 said: ↑

CTXR earnings...

Citius Pharmaceuticals, Inc. Reports Fiscal Full Year 2021 Financial Results and Provides Business Update

$70.1 million in cash and cash equivalents as of September 30, 2021 to advance pipeline

Completed treatment phase of Pivotal Phase 3 trial in cancer immunotherapy I/ONTAK for the treatment of cutaneous T- cell lymphoma

Independent Data Monitoring Committee recommended continuing the Mino-Lok(R) Phase 3 clinical superiority trial as planned without modifications; no safety concerns identified

PR Newswire

CRANFORD, N.J., Dec. 15, 2021

CRANFORD, N.J., Dec. 15, 2021 /PRNewswire/ -- Citius Pharmaceuticals, Inc. ("Citius" or the "Company") (Nasdaq: CTXR), a late-stage biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products with a focus on oncology, anti-infective products in adjunct cancer care, unique prescription products, and stem cell therapies, today reported business and financial results for the fiscal full year ended September 30, 2021.

Fiscal Full Year 2021 Business Highlights and Subsequent Developments

-- Completed subject treatment in December 2021 in Pivotal Phase 3 trial of
I/ONTAK (E7777) with topline results anticipated in the first half of
2022 and a biologics license application (BLA) submission in the second
half of 2022;

-- Acquired Dr. Reddy's Laboratories' license for late-Phase 3 oncology
immunotherapy I/ONTAK for the treatment of cutaneous T-cell lymphoma
(CTCL) and other cancer indications;

-- Received third positive recommendation from independent Data Monitoring
Committee to continue the Mino-Lok(R) Phase 3 clinical superiority trial
as planned without modifications; no safety concerns identified;

-- Completed dose-ranging proof-of-concept sheep study of iPSC-derived novel
induced-mesenchymal stem cells (i-MSCs) for the treatment of acute
respiratory distress syndrome (ARDS); analysis and documentation underway
for peer-reviewed publication submission;

-- Expanded clinical, manufacturing and commercial capabilities with the
addition of seasoned pharmaceutical executives;

-- Citius added to the Russell 3000(R) and 2000(R) indexes; and,

-- Raised net proceeds of $120.6 million in financing activities during the
year.

Financial Highlights

-- Cash and cash equivalents of $70.1 million as of September 30, 2021;

-- R&D expenses were $12.2 million for the full year ended September 30,
2021, compared to $8.8 million for the full year ended September 30,
2020;

-- G&A expenses were $9.8 million for the full year ended September 30,
2021, compared to $8.1 million for the full year ended September 30,
2020;

-- Stock-based compensation expense was $1.5 million for the full year ended
September 30, 2021, compared to $0.8 million for the full year ended
September 30, 2020; and,

-- Net loss was $23.1 million, or ($0.23) per share for the full year ended
September 30, compared to a net loss of $17.5 million, or ($0.45) per
share for the full year ended September 30, 2020.

"2021 was a transformative year for Citius as we positioned the company financially and strategically to drive growth. We raised more than $120 million in proceeds to support our activities, providing us with the flexibility to advance our clinical programs and invest in opportunities for additional growth. With the recent addition of cancer immunotherapy I/ ONTAK to our portfolio, we now have a robust pipeline that includes two late Phase 3 programs and three potentially first-in-class products, " stated Myron Holubiak, President and Chief Executive Officer of Citius Pharmaceuticals.

"As we move into 2022, we anticipate multiple positive milestones. These include: accelerated enrollment and completion of the Mino-Lok(R) trial during the year, topline results in the first half of 2022 for the recently completed I/ONTAK Pivotal Phase 3 trial followed by a BLA submission in the second half of the year, initiation of the Halo-Lido study in early 2022 and completion of the study by the end of the year, and continued progress on Mino-Wrap and our iPSC-derived mesenchymal stem cells for the treatment of acute respiratory distress syndrome (ARDS). With the addition of key personnel to our clinical, manufacturing and commercial teams, we are aligning our resources to ensure continued progress across each of our development programs, and the successful launch of potentially two commercial products in 2023. We believe our strong balance sheet will allow us to execute our development programs as planned in 2022 and we do not anticipate a need to raise additional capital in the coming year," concluded Mr. Holubiak.

Full Year 2021 Financial Results:

Liquidity

As of September 30, 2021, the Company had $70.1 million in cash and cash equivalents. During the fiscal year ended September 30, 2021, the Company received net proceeds of $120.6 million from financing activities.

In January 2021, the Company closed a private placement for common stock and warrants totaling gross proceeds of approximately $20 million and net proceeds of $18.5 million. In February 2021, the Company closed a registered direct offering of its common stock and warrants for gross proceeds of $76.5 million and net proceeds of $71 million. During the year ended September 30, 2021, the Company received $31.2 million in proceeds from the exercise of common stock options and warrants.

On June 21, 2021, stockholders approved an amendment to the Company's Articles of Incorporation to increase the authorized number of shares from 210,000,000 to 410,000,000 and the authorized number of common shares from 200,000,000 to 400,000,000. As of September 30, 2021, the Company had 145,979,429 common shares issued and outstanding.

In 2021, the Company raised a total of $127.6 million through financing activities. We estimate that we will have sufficient funds for our operations through March 2023.

Research and Development (R&D) Expenses

R&D expenses were $12.2 million for the full year ended September 30, 2021, compared to $8.8 million for the full year ended September 30, 2020. The increase of $3.4 million is primarily due to an increase in research and development expenses for our proposed novel cellular therapy for ARDS of $6.1 million, of which $5 million was a license fee paid to Novellus, and an increase in R&D expenses related to the I/ONTAK license and Mino-Wrap, offset by decreases in research and development expenses related to our Mino-Lok(R) and Halo-Lido product candidates.

We expect that research and development expenses will increase in fiscal 2022 as we continue to focus on our Phase 3 trial for Mino-Lok(R) , progress the Halo-Lido product candidate, and continue our research and development efforts related to ARDS, Mino-Wrap and I/ONTAK (E7777).

General and Administrative (G&A) Expenses

G&A expenses were $9.8 million for the full year ended September 30, 2021, compared to $8.1 million for the full year ended September 30, 2020. The primary reason for the increase is costs associated with additional compensation costs for new employees and performance bonuses. General and administrative expenses consist primarily of compensation costs, professional fees related to our capital raising activities, corporate development services, and investor relations.

Stock-based Compensation Expense

For the full year ended September 30, 2021, stock-based compensation expense was $1.5 million as compared to $0.8 million for the prior year. The increase reflects expenses related to new grants made by Citius and the NoveCite stock option plan.

Net loss

Net loss was $23.1 million, or ($0.23) per share for the year ended September 30, compared to a net loss of $17.5 million, or ($0.45) per share for the year ended September 30, 2020. The increase in net loss is primarily due to the $ 3.4 million increase in our research and development expenses and a $1.6 million increase in general and administrative expenses.
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MickDog13 said: ↑

I’ve been upside down on this one for months, please, please take these oppressively heavy bags off my hands.
Click to expand...

Not likely....Mino-Lok still paddling around the tub and a 100% dilution available at any time, doubling the float...
On June 21, 2021, stockholders approved an amendment to the Company's Articles of Incorporation to increase the authorized number of shares from 210,000,000 to 410,000,000 and the authorized number of common shares from 200,000,000 to 400,000,000. As of September 30, 2021, the Company had 145,979,429 common shares issued and outstanding.

It's a long hold right now for the shares I kept...Trailing stops got bless you!

But that fucker couldn't wait 4 DAYS and save me like $600 in extra taxes?

TreeFortRichard · Dec 16, 2021

These cheap bastards...STILL no contract volume...

TreeFortRichard · Dec 16, 2021

Ok...
THis just filled

theesotericone · Dec 16, 2021

TreeFortRichard said: ↑

These cheap bastards...STILL no contract volume...

Click to expand...

Check out NVDA. Lots of volume. I got some DEC 17 $320's I'd let go for cheap. lol

TreeFortRichard · Dec 16, 2021

theesotericone said: ↑

Check out NVDA. Lots of volume. I got some DEC 17 $320's I'd let go for cheap. lol
Click to expand...

Luckily I closed yesterday...My friend had 25 12/23's of various $$ some ITM some leaps... Closed them ALL at the open today on that drop from 9:30 to 9:34 because he had a meeting and works in a no signal type place...

I messaged him (he still gets texts) good move...dropped...Made 28K...if he waited complete loss...

MedlinAround · Dec 16, 2021

I feel like I own the entire company of ITRM now. Never gonna be able to sell these shares

TreeFortRichard · Dec 16, 2021

$GTii needs to..
https://www.youtube.com/watch?v=P1DJNHyc9zs

Iwilltaco · Dec 16, 2021

TreeFortRichard said: ↑

$GTii needs to..
https://www.youtube.com/watch?v=P1DJNHyc9zs
Click to expand...

Needed a rest day

98tacoma27 · Dec 16, 2021

Seems to be a low volume day all around.

MickDog13 · Dec 16, 2021

GtII battling to stay above water today.

MickDog13 · Dec 16, 2021

98tacoma27 said: ↑

Seems to be a low volume day all around.
Click to expand...

volume on everything I’m involved with is WAY down.

scottstrong89 · Dec 16, 2021

JDR07 said: ↑

I’m Rushin to stop the bleeding of all my accounts
Click to expand...

Haha love it.

MickDog13 · Dec 16, 2021

TreeFortRichard · Dec 16, 2021

Crude just gave us the old "I'm over here now..."

TreeFortRichard · Dec 16, 2021

MickDog13 said: ↑

Click to expand...

Did some reading up on this...
Basically Brokerages/Banks are acting like it's still 1985 and all communications happen over a land line so employee comms can be tracked...
in 2021 you should be prohibiting the use of private cell phones at work if you're in one of these places...sure as shit you could work out a code system for tipping people to trades...

theesotericone · Dec 16, 2021

You guys are awfully quiet today. Must mean some big losses are happening. lol

MickDog13 · Dec 16, 2021

TreeFortRichard said: ↑

Did some reading up on this...
Basically Brokerages/Banks are acting like it's still 1985 and all communications happen over a land line so employee comms can be tracked...
in 2021 you should be prohibiting the use of private cell phones at work if you're in one of these places...sure as shit you could work out a code system for tipping people to trades...
Click to expand...

I’m absolutely positive that nobody with insider knowledge, whether in DC or NYC, ever profit from it. There’s no way those individuals would betray that trust.

TreeFortRichard · Dec 16, 2021

MickDog13 said: ↑

I’m absolutely positive that nobody with insider knowledge, whether in DC or NYC, ever profit from it. There’s no way those individuals would betray that trust.

Click to expand...

Hey dad, PUT your apples on the counters...I'll pick them up on 12/23 and pay you the $175 I owe you...

MickDog13 · Dec 16, 2021

theesotericone said: ↑

You guys are awfully quiet today. Must mean some big losses are happening. lol
Click to expand...

im down 4% at the moment. Had to trim the more expensive shares of ctxr cause I can’t wait years to get that money back.
Was too concentrated with that fat cow anyway.
Back to 25% cash to hop on another play.

98tacoma27 · Dec 16, 2021

theesotericone said: ↑

You guys are awfully quiet today. Must mean some big losses are happening. lol
Click to expand...

Nah, slow and boring market day. Calm before a storm maybe?

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TreeFortRichard Barcelona Red is the best red...

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TreeFortRichard Barcelona Red is the best red...

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theesotericone Well-Known Member

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TreeFortRichard Barcelona Red is the best red...

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MedlinAround Failure is the result of letting setbacks stop you

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TreeFortRichard Barcelona Red is the best red...

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98tacoma27 is going full "SANDWICH" Moderator

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