CRANFORD, N.J., May 12, 2020 /PRNewswire/ -- Citius
Pharmaceuticals, Inc. ("Citius" or the "Company") (Nasdaq: CTXR), a
specialty pharmaceutical company focused on developing and
commercializing critical care drug products, today announced
that the Company has issued its May 2020 Shareholder
Letter. The letter highlights the Company's exclusive option
to license a novel stem-cell therapy to treat acute respiratory
distress syndrome (ARDS) associated with COVID-19, and the clinical
progress of the Company's core products: Mino-Lok®, Mino-Wrap™, and
Halo-Lido.
Recent Company Highlights include:
- Submitting a pre-IND to the FDA under the Coronavirus Treatment
Acceleration Program (CTAP) for a novel stem-cell therapy to treat
ARDS associated with COVID-19
- Obtaining an exclusive option from Novellus, Inc. to license a
stem-cell therapy to treat ARDS associated with COVID-19
- Achieving 50% patient enrollment in the Phase 3 Mino-Lok®
pivotal trial
- Passing the interim futility analysis successfully in the
ongoing Phase 3 trial of Mino-Lok vs. standard-of-care antibiotic
locks
"Despite the challenges presented by COVID-19, we are in the
midst of an exciting time for Citius," said Myron Holubiak, Chief Executive Officer of
Citius. "We're hard at work on a potentially groundbreaking
treatment for ARDS associated with COVID-19, and our core therapies
are making steady progress through their respective clinical
development timelines. I look forward to sharing the future
developments with our shareholders as we move forward with our
pipeline and achieve clinical and regulatory milestones."
To view the Company's Corporate Update Letter in its entirety,
please visit:
https://www.citiuspharma.com/wp-content/uploads/2020/05/CTXR_May2020ShareholderLetter_final.pdf
About Citius Pharmaceuticals, Inc.
Citius is a
late-stage specialty pharmaceutical company dedicated to the
development and commercialization of critical care products, with a
focus on anti-infectives and cancer care. For more information,
please visit www.citiuspharma.com.
Safe Harbor
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.
You can identify these statements by the fact that they use words
such as "will," "anticipate," "estimate," "expect," "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: the risk
of successfully negotiating a license agreement with Novellus
within the option period; our need for substantial additional
funds; the estimated markets for our product candidates, including
those for ARDS, and the acceptance thereof by any market; risks
associated with conducting trials for our product candidates,
including those expected to be required for any treatment for ARDS
and our Phase III trial for Mino-Lok; risks relating to the results
of research and development activities; risks associated with
developing our product candidates, including any licensed from
Novellus, including that preclinical results may not be predictive
of clinical results and our ability to file an IND for such
candidates; uncertainties relating to preclinical and clinical
testing; the early stage of products under development; risks
related to our growth strategy; our ability to obtain, perform
under, and maintain financing and strategic agreements and
relationships; our ability to identify, acquire, close, and
integrate product candidates and companies successfully and on a
timely basis; our ability to attract, integrate, and retain key
personnel; government regulation; patent and intellectual property
matters; competition; as well as other risks described in our SEC
filings. 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.
Contact:
Andrew
Scott
Vice President, Corporate Development
(O) 908-967-6677 x105
ascott@citiuspharma.com
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SOURCE Citius Pharmaceuticals, Inc.