--- title: "Citius Pharmaceuticals 10-Q cites going-concern doubt" url: "https://aibio.space/news/citius-pharmaceuticals-10-q-cites-going-concern-doubt-nasdaq/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-05-14" section: "Distress" tickers: "NASDAQ:CTXR, NASDAQ:CTOR" source: "https://www.sec.gov/Archives/edgar/data/1506251/000121390025043360/ea0241638-10q_citius.htm" summary: "The company had $26,410 in cash at March 31, 2025. Its own estimate says cash, including $1.735 million of net proceeds from an April offering, lasts only" --- By the aibio.space news desk. Sources - [Citius Pharmaceuticals, Inc. 10-Q (2025-05-14)](https://www.sec.gov/Archives/edgar/data/1506251/000121390025043360/ea0241638-10q_citius.htm) - [Citius Pharmaceuticals, Inc. 10-K (2024-12-27): business](https://www.sec.gov/Archives/edgar/data/1506251/000121390024113149/ea0225656-10k_citius.htm) [CTXR](https://aibio.space/companies/citius-pharmaceuticals/) [CTOR](https://aibio.space/companies/citius-oncology/) 2025-05-14 # Citius Pharmaceuticals 10-Q cites going-concern doubt and Nasdaq compliance Tickers [CTXR](https://aibio.space/companies/citius-pharmaceuticals/)[CTOR](https://aibio.space/companies/citius-oncology/) The company had $26,410 in cash at March 31, 2025. Its own estimate says cash, including $1.735 million of net proceeds from an April offering, lasts only through May 2025, and it lost $21,792,751 in the six months to March 31. ## Key facts - **Companies**: Citius Pharmaceuticals, Inc. (NASDAQ: CTXR), Citius Oncology, Inc. (NASDAQ: CTOR) - **News type**: Distress - **Primary source**: [Citius Pharmaceuticals, Inc. 10-Q (2025-05-14)](https://www.sec.gov/Archives/edgar/data/1506251/000121390025043360/ea0241638-10q_citius.htm) *The Capitol in autumn. CC0, via rawpixel. The picture shows the field, not the companies named.* Citius Pharmaceuticals, Inc. (Nasdaq: [CTXR](https://aibio.space/companies/citius-pharmaceuticals/)) filed its quarterly report on Form 10-Q for the quarter ended March 31, 2025 on May 14, 2025. The report repeats the auditor's explanatory paragraph warning of substantial doubt about the company's ability to continue as a going concern. The company ties that doubt to its cash runway. Its going-concern note says cash, together with the April proceeds, is sufficient to fund operations only through May 2025. ## What the going-concern note says Net cash used in operations was $9,265,328 for the six months ended March 31, 2025. Working capital was negative by approximately $31.5 million. Cash and cash equivalents were $26,410, down from $3,251,880 at September 30, 2024. The filing says the company's only means of funding since inception has been financing. It received net proceeds of $6,039,858 from equity issuances in the six months. The company is also raising capital at its 92.3% owned subsidiary, Citius Oncology, Inc. (Nasdaq: [CTOR](https://aibio.space/companies/citius-oncology/)), to extend the cash runway. Citius Oncology has retained Jefferies LLC as its exclusive financial advisor for strategic alternatives. The filing says there is no assurance that Citius Oncology will raise the capital it needs. It also says continued operations beyond May 2025 depend on regulatory approval for Mino-Lok, substantial revenue from LYMPHIR and additional capital. ## Offerings in the quarter On April 2, 2025, the company sold 465,000 shares and pre-funded warrants for 1,274,131 shares, at $1.15 and $1.1499 respectively. Net proceeds were approximately $1.735 million. H.C. Wainwright and Co., LLC was the exclusive placement agent. The company paid it a cash fee of 7.0% of gross proceeds, plus $25,000 for legal fees, $10,000 for expenses and $10,000 for a clearing fee. It also granted placement agent warrants for 121,739 shares at $1.4375. On January 7, 2025, the company sold 743,496 shares and warrants for the same number of shares in a registered direct offering. Gross proceeds were about $3,000,000, and net proceeds were $2,657,167. Separately, under an at-the-market sales agreement with H.C. Wainwright dated August 12, 2024, the company sold 289,910 shares in the quarter for gross proceeds of $839,468 and net proceeds of $808,640. ## Losses, inventory and liabilities The net loss for the quarter was $11,511,505, or $1.27 per share, against $8,544,154, or $1.34 per share, a year earlier. For the six months, the net loss was $21,792,751, or $2.58 per share, against $17,775,339, or $2.79. Of the six-month loss, $1,108,000 was attributed to non-controlling interests. Inventory was $15,339,253, up from $8,268,766, and is the company's largest current asset. Total liabilities rose to $57,905,619 from $42,549,921. The license payable stood at $28,400,000. Stockholders' equity attributable to the company fell to $60,659,412 from $70,077,450. ## The subsidiary's obligations The 10-Q says the company needs substantial additional financing to meet milestone payments for LYMPHIR and minimum purchase commitments under Citius Oncology's supply agreements. Citius Pharma guarantees Citius Oncology's obligations. Citius Oncology must pay Eisai $2,535,318 on or before July 15, 2025, with further installments through December 15, 2025. ## Listing, business and what the filing leaves out The report says the company received notice on December 18, 2024 that it had regained compliance with the $1.00 bid price requirement. The risk list names the ability to maintain compliance with Nasdaq's continued listing requirements. Shares outstanding were 8,760,649 at March 31, 2025 and 10,290,335 as of May 9, 2025. The annual report describes Mino-Lok as an antibiotic lock solution for catheter-related bloodstream infections, Halo-Lido as a topical formulation for hemorrhoids, and NoveCite as a mesenchymal stem cell therapy for ARDS, a company in which it owns 75%. The report says Citius Pharma has funded and continues to fund Citius Oncology, which owns LYMPHIR. The report gives no date for a Mino-Lok decision and no amount for the financing it needs. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story CTXR Citius Pharmaceuticals, Inc. NASDAQ · United States Open the starter desk CTOR Citius Oncology, Inc. NASDAQ · United States Open the starter desk ## More in Distress Distress ### [Mineralys takes ownership of lorundrostat patents but keeps Tanabe milestone debts](https://aibio.space/news/mineralys-takes-ownership-lorundrostat-patents-but-keeps-tanabe/) Oct 29, 2026 Distress ### [Bristol Myers Squibb drops Prothena's PRX019, ending up to $617.5 million in milestones](https://aibio.space/news/bristol-myers-squibb-drops-prothenas-prx019-ending-up-617-5-million/) Oct 29, 2026 Distress ### [LENZ Therapeutics reorganizes to cut 2027 operating expenses by more than 50%](https://aibio.space/news/lenz-therapeutics-reorganizes-cut-2027-operating-expenses-more-50/) Oct 28, 2026 --- Source page: https://aibio.space/news/citius-pharmaceuticals-10-q-cites-going-concern-doubt-nasdaq/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Citius Pharmaceuticals 10-Q cites going-concern doubt", 2025-05-14, https://aibio.space/news/citius-pharmaceuticals-10-q-cites-going-concern-doubt-nasdaq/