Citius Pharmaceuticals, Inc. Secures $3.8 million through New Jersey Economic Development Program
MWN-AI** Summary
Citius Pharmaceuticals, Inc. (Nasdaq: CTXR), a biopharmaceutical company focused on developing first-in-class critical care products, has announced the successful acquisition of $3.8 million in non-dilutive capital through New Jersey's Technology Business Tax Certificate Transfer Program, commonly referred to as the Net Operating Loss (NOL) Program. This funding is backed by the New Jersey Economic Development Authority (NJEDA) and is intended to bolster Citius’s financial standing as it advances its strategic objectives.
Chief Financial Officer Jaime Bartushak expressed satisfaction with the funding, highlighting its role in fortifying the company's balance sheet and enhancing its financial flexibility. The capital will support the commercial launch of Citius’s immunotherapy drug, LYMPHIR, and facilitate progress on other late-stage pipeline programs, including Mino-Lok®, designed to combat catheter-related bloodstream infections, and CITI-002 (Halo-Lido), aimed at treating hemorrhoids. Both products recently completed pivotal trials, with Mino-Lok successfully meeting its primary and secondary endpoints.
The NOL Program allows biotech firms with net operating losses to convert those losses into cash by selling them to profitable companies in New Jersey, supported by the NJEDA, which oversees eligibility. This initiative reflects New Jersey's commitment to fostering economic growth and supporting innovative industries.
Citius Pharmaceuticals remains focused on disciplined capital allocation and developing therapies that improve patient outcomes, reinforcing its long-term vision for shareholder value. However, the company is also aware of various risks, including the need for additional funding and the challenges associated with commercialization in a competitive landscape. For further information about Citius Pharma and its initiatives, visit www.citiuspharma.com.
MWN-AI** Analysis
Citius Pharmaceuticals, Inc. (Nasdaq: CTXR) recently secured $3.8 million through New Jersey's Technology Business Tax Certificate Transfer Program (also known as the Net Operating Loss Program). This non-dilutive funding represents a strategic boost to Citius Pharma, supporting its ongoing initiatives, including the commercial launch of its immunotherapy product, LYMPHIR.
This capital infusion not only strengthens the company's financial flexibility but also indicates a commitment from government entities to support the biopharmaceutical industry, which can provide investors with considerable confidence in Citius’ operational landscape. The successful commercialization of LYMPHIR, particularly targeting relapsed or refractory Stage I–III cutaneous T-cell lymphoma, could create significant revenue potential, given the unmet needs in this treatment area.
Furthermore, Citius Pharma's advanced pipeline, including the promising Mino-Lok and CITI-002 products, positions the company favorably for future growth. The positive outcomes from recent pivotal trials for Mino-Lok, combined with the company's proactive engagement with the FDA, enhance the potential for robust market entry and revenue generation.
However, investors need to consider the inherent risks outlined in the company's forward-looking statements. Factors such as dependency on additional funding, competition, and regulatory complexities could impact Citius' trajectory. The stock's performance may also be sensitive to broader market conditions and investor sentiment toward biopharmaceutical stocks as a whole.
In summary, Citius Pharmaceuticals presents a potentially attractive opportunity driven by its recent funding success and promising product pipeline. Yet, a cautious approach is advisable, keeping in mind the volatility of the biopharmaceutical sector and the need for ongoing operational milestones. Investors should monitor the company's developments closely as it executes its strategic plans, weighing potential returns against associated risks.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
Non-dilutive capital supports continued execution and value creation
CRANFORD, N.J., Feb. 24, 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 announced that the Company has received $3.8 million in non-dilutive capital through New Jersey's Technology Business Tax Certificate Transfer Program, more commonly known as the Net Operating Loss (NOL) Program, funded through the New Jersey Economic Development Authority (NJEDA).
"We are pleased to once again participate in New Jersey's NOL Program, which enables us to convert net operating losses into meaningful non-dilutive capital. As expected, this funding strengthened our balance sheet and enhances our financial flexibility as we continue executing on our strategy, including supporting the commercial launch of LYMPHIR and advancing our late-stage pipeline programs. We appreciate the continued support of the New Jersey Economic Development Authority and remain committed to disciplined capital allocation that drives long-term shareholder value while advancing important therapies for patients," stated Jaime Bartushak, Chief Financial Officer of Citius.
About the Technology Business Tax Certificate Transfer Program (NOL Program)
The Technology Business Tax Certificate Transfer Program enables approved technology and biotechnology businesses with net operating losses to sell their unused net operating loss carryover (NOL) and unused research and development tax credits (R&D Tax Credits) for at least 80% of the value of the tax benefits to a profitable corporate taxpayer in the State of New Jersey that is not an affiliated business. This allows technology and biotechnology businesses with net operating losses to turn their tax losses and credits into cash to buy equipment or facilities, or for other allowable expenditures. The NJEDA determines eligibility, and the New Jersey Division of Taxation determines the value of the tax benefits.
About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority serves as the State's principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey's long-term economic competitiveness.
To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.com and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.
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 74.8% 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. 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 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; the ability of LYMPHIR and our product candidates to impact the quality of life of our target patient populations; our ability to maintain Nasdaq's continued listing standards; 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; 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; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; 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 Pharma's Annual Report on Form 10-K for the year ended September 30, 2025, filed with the SEC on December 23, 2025, as amended 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
ir@citiuspharma.com
908-967-6677 x113
Media Contact:
STiR-communications
Greg Salsburg
Greg@STiR-communications.com
SOURCE Citius Pharmaceuticals, Inc.
FAQ**
How will the $3.8 million secured by Citius Pharmaceuticals Inc. (CTXR) through the New Jersey Economic Development Program specifically support the commercial launch of LYMPHIR and the advancement of its late-stage pipeline?
What strategies does Citius Pharmaceuticals Inc. (CTXR) plan to implement to ensure sustainable revenue generation from LYMPHIR, given the competitive landscape and regulatory considerations highlighted in its recent press release?
How does Citius Pharmaceuticals Inc. (CTXR) evaluate the effectiveness of the New Jersey Technology Business Tax Certificate Transfer Program for continuing its operations and research initiatives, especially in relation to its financial flexibility?
What measures is Citius Pharmaceuticals Inc. (CTXR) taking to mitigate the risks outlined in its forward-looking statements, particularly concerning the commercialization of LYMPHIR and relationships with third-party logistics providers and distributors?
**MWN-AI FAQ is based on asking OpenAI questions about Citius Pharmaceuticals Inc. (NASDAQ: CTXR).
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