Citius Pharmaceuticals regains Nasdaq compliance

Citius Pharmaceuticals Inc. (NASDAQ: CTXR) announced Tuesday that it has regained compliance with Nasdaq's minimum bid price requirement after its stock closed at $1.00 or higher for 10 consecutive trading days from June 20 to July 3.

The Cranford, New Jersey-based biopharmaceutical company received formal notification from The Nasdaq Stock Market LLC confirming compliance with Nasdaq Listing Rule 5550(a)(2). A previously scheduled Nasdaq Hearing Panel has been cancelled, and the company's securities will continue to be listed and traded on the Nasdaq Stock Market.

"We are pleased to have regained compliance with Nasdaq's minimum bid price requirement," said Leonard Mazur, Chairman and CEO of Citius Pharmaceuticals. "This reflects our continued focus on bringing critical care products to patients and creating long-term value for our shareholders."

The company develops critical care products and received FDA approval for LYMPHIR, a targeted immunotherapy for cutaneous T-cell lymphoma treatment, in August 2024. Its pipeline includes Mino-Lok, an antibiotic lock solution for catheter-related bloodstream infections, and CITI-002 (Halo-Lido), a topical hemorrhoid treatment.

Citius completed pivotal Phase 3 trials for Mino-Lok and Phase 2b trials for Halo-Lido in 2023, with Mino-Lok meeting primary and secondary endpoints. The company is working with the FDA on next steps for both programs.

Citius Pharmaceuticals owns 92% of Citius Oncology (NASDAQ: CTOR).

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