aibioCitius Oncology gets Nasdaq minimum bid price deficiency notice, has until October 19, 2026
Tickers CTOR
Nasdaq says the stock closed below $1.00 for 30 consecutive business days. The company has until October 19, 2026 to cure, while its auditor has flagged going-concern doubt and its parent funds most operations.
Key facts
- Company
- Citius Oncology, Inc. (NASDAQ: CTOR)
- News type
- Listings
- Primary source
- CITIUS ONCOLOGY, INC. Form 8-K filed April 28, 2026 (SEC EDGAR)
Citius Oncology, Inc. (Nasdaq: CTOR) disclosed on April 28, 2026 that Nasdaq has sent it a minimum bid price deficiency notice. Nasdaq told the company on April 22, 2026 that for the last 30 consecutive business days the bid price of its common stock had closed below the $1.00 per share minimum for continued inclusion on the Nasdaq Capital Market. The company has until October 19, 2026 to regain compliance, according to its Form 8-K.
What the notice says
The notice cites Nasdaq Listing Rule 5550(a)(2), which the filing calls the Bid Price Rule. Under Rule 5810(c)(3)(A) the company has a compliance period of 180 calendar days. If the bid price closes at $1.00 or more for a minimum of ten consecutive business days before October 19, 2026, Nasdaq will confirm compliance in writing.
The stock stays listed on the Nasdaq Capital Market under "CTOR" for now. The company says it is evaluating its options and that there can be no assurance it will regain compliance or maintain compliance with other continued listing requirements.
If it misses the date, it may qualify for a second 180-day period, but only if it meets the market value of publicly held shares requirement and every other initial listing standard except the bid price. It would also have to give written notice that it intends to cure by a reverse stock split, if necessary. If it fails to cure in time, Nasdaq will notify it that the stock is subject to delisting, and the company may appeal to a Nasdaq hearings panel. Chairman and Chief Executive Officer Leonard Mazur signed the 8-K.
Going-concern doubt and thin cash
The company's annual report, filed December 23, 2025, carries an auditor's explanatory paragraph stating substantial doubt about its ability to continue as a going concern. The auditor cites recurring losses and a working capital deficit at September 30, 2025, and says the company is economically dependent on continued financial support from its majority owner, Citius Pharmaceuticals, Inc. (Citius Pharma).
At September 30, 2025, before capital raised afterward, cash and cash equivalents were approximately $3.9 million against an accumulated deficit of approximately $64 million. The company estimated that, counting the $6.0 million raised by Citius Pharma in October 2025 and the $18.0 million it raised in December 2025, it had enough capital to continue operations through March 2026. Beyond that, it said continued operations depend on a successful launch of its product and on raising more capital. It reported a net loss of $24.8 million for the fiscal year ended September 30, 2025, compared with $21.1 million a year earlier, and used $5.5 million in operations. Research and development expense was $6.4 million, up from $4.9 million.
The report also says the company is evaluating strategic alternatives, and that if it does not complete a strategic transaction, its board may decide to pursue a dissolution and liquidation.
One approved product
Citius Oncology, based in Cranford, New Jersey, has one approved product, LYMPHIR, an engineered IL-2 diphtheria toxin fusion protein for persistent or recurrent cutaneous T-cell lymphoma (CTCL), a rare form of non-Hodgkin lymphoma. The FDA approved it in August 2024 and the company launched it in December 2025. The company has generated no operating revenue to date, according to the annual report.
Approval rested on a single-arm, open-label pivotal trial sponsored by Eisai Co., Ltd. In the primary analysis set, 25 of 69 subjects responded as assessed by an independent review committee, an objective response rate of 36.2% (95% CI: 25.0%, 48.7%), with 6 complete responses. The company owes milestone payments to the licensor and former licensee, and a material breach, including late payment, would let the licensor terminate the license.
Ownership
The company came public through a reverse merger with TenX Keane Acquisition that closed on August 12, 2024. Right after closing, Citius Pharma owned approximately 92% of the shares. As of December 17, 2025 it owned approximately 77.9%, excluding pre-funded warrants for up to 15,229,358 shares in a transaction that closed on December 11, 2025. The annual report describes the company as a controlled company under Nasdaq standards, with governance exemptions that give other stockholders fewer protections.