Citius Pharmaceuticals Regains Compliance with Nasdaq Listing Requirements

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Citius Pharmaceuticals (NASDAQ: CTXR) announced on July 10, 2020, that it has regained compliance with NASDAQ's minimum bid price requirements, allowing it to remain listed on the exchange. This compliance closure is significant for the company as it continues its focus on developing critical care and cancer treatment products. Citius specializes in proprietary formulations of previously-approved drugs, targeting unmet medical needs while mitigating development risks.

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CRANFORD, N.J., July 13, 2020 /PRNewswire/ -- Citius Pharmaceuticals, Inc. ("Citius" or the "Company") (NASDAQ: CTXR), a specialty pharmaceutical company focused on adjunctive cancer care and critical care drug products, announced that it received notice from The Nasdaq Stock Market LLC ("NASDAQ") on July10, 2020 indicating that the Company has regained compliance with the minimum bid price requirement under NASDAQ Listing Rule 5550(a)(2) (the "Bid Price Rule") for continued listing on The NASDAQ Capital Market. Accordingly, the Company has regained compliance with the Bid Price Rule and NASDAQ considers the matter closed.

About Citius Pharmaceuticals, Inc.

Citius is a specialty pharmaceutical company dedicated to the development and commercialization of critical care products, with a focus on anti-infectives, cancer care, and unique prescription products that use innovative, patented, or proprietary formulations of previously-approved active pharmaceutical ingredients. We seek to achieve leading market positions by providing therapeutic products that address unmet medical needs. By using previously approved drugs with substantial safety and efficacy data, we seek to reduce the risks associated with pharmaceutical product development and regulatory requirements. Citius develops products that have intellectual property protection and competitive advantages to existing therapeutic approaches. 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: risks associated with continuing to meet the listing requirements of The Nasdaq Capital Market; risks associated with conducting clinical trials for our product candidates; the estimated markets for our product candidates and the acceptance thereof by any market; our need for substantial additional funds; risks associated with developing product candidates, including that preclinical results may not be predictive of clinical results and our ability to file an IND for any product candidate; risks related to our growth strategy; our ability to identify, acquire, close and integrate product candidates and companies successfully and on a timely basis; risks relating to the results of research and development activities; uncertainties relating to preclinical and clinical testing; the early stage of products under development; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; 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.

FAQ

What does the announcement by Citius Pharmaceuticals on July 10, 2020, signify for CTXR?

The announcement indicates that Citius Pharmaceuticals has regained compliance with NASDAQ's minimum bid price requirements, allowing continued listing on the NASDAQ Capital Market.

How does compliance with NASDAQ affect Citius Pharmaceuticals?

Regaining compliance with NASDAQ helps ensure the company's stock remains publicly traded, which can positively influence investor confidence and market perception.

What is the focus of Citius Pharmaceuticals?

Citius Pharmaceuticals focuses on developing adjunctive cancer care and critical care drug products, using innovative formulations of previously-approved active pharmaceutical ingredients.