Citius Pharmaceuticals Completes $3 Million Registered Direct Offering
CRANFORD, N.J., Nov. 18, 2024 – Citius Pharmaceuticals, Inc. has officially completed a $3 million registered direct offering, marking a significant step in its funding strategy and future project development.
H.C. Wainwright & Co. served as the exclusive placement agent for this financial initiative, showcasing their role in facilitating the transaction.
The total gross proceeds from this offering amounted to $3 million, which will be utilized primarily for critical corporate functions. The company plans to allocate the net proceeds towards advancing pre-clinical and clinical development of its promising product candidates, alongside funding for working capital and necessary capital expenditures.
The securities in this offering are available under a “shelf” registration statement (File No. 333-277319) filed with the Securities and Exchange Commission (SEC) on February 23, 2024. This registration was declared effective on March 1, 2024. For potential investors, the offering is exclusively conducted through a comprehensive prospectus, which includes a prospectus supplement that is part of the effective registration statement. The relevant prospectus supplement and associated prospectus were filed with the SEC on November 18, 2024, and can be accessed via the SEC’s official website at www.sec.gov.
Interested parties can also obtain electronic copies of the prospectus supplement and prospectus by reaching out to H.C. Wainwright & Co., LLC located at 430 Park Avenue, 3rd Floor, New York, NY 10022, or by calling (212) 856-5711, or emailing [email protected].
This press release does not represent an offer to sell or a solicitation for offers to purchase any of the securities mentioned. Furthermore, the sale of these securities is prohibited in any state or jurisdiction where such offers, solicitations, or sales would be deemed unlawful, prior to registration or qualification under the respective securities laws of those states or jurisdictions.
About Citius Pharmaceuticals, Inc.
Forward Looking Statements
Investor Contact:
Ilanit Allen
[email protected]
908-967-6677 x113
Media Contact:
STiR-communications
Greg Salsburg
[email protected]
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What are the main goals Citius Pharmaceuticals aims to achieve with the recent $3 million funding?
**Interview with Dr. John Smith, CEO of Citius Pharmaceuticals, on the Recent $3 Million Registered Direct Offering**
**Interviewer**: Good afternoon, Dr. Smith. Thank you for joining us today. Citius Pharmaceuticals just completed a $3 million registered direct offering. Can you tell us what this means for the company?
**Dr. John Smith**: Thank you for having me. This $3 million offering is crucial for our funding strategy. These funds will primarily support the development of our pre-clinical and clinical product candidates, ensuring that we can continue making progress on our innovative therapies.
**Interviewer**: That’s exciting. What are some specific projects or initiatives that these funds will support?
**Dr. Smith**: We have several promising candidates in our pipeline. The allocation from this offering will enhance our ability to advance these candidates through their respective clinical trials. Additionally, a portion will go towards essential working capital and capital expenditures that keep our operations running smoothly.
**Interviewer**: H.C. Wainwright & Co. served as the exclusive placement agent for the offering. How did they contribute to this process?
**Dr. Smith**: H.C. Wainwright has been instrumental in facilitating this transaction. Their expertise and established relationships helped ensure that we could execute this offering efficiently and effectively, allowing us to reach potential investors and communicate our financial needs clearly.
**Interviewer**: You’ve mentioned that this offering comes under a “shelf” registration statement. Can you explain what that means for potential investors?
**Dr. Smith**: Certainly. A “shelf” registration allows us to register securities with the SEC in advance, which gives us the flexibility to offer those securities as needed. For investors, it means they can find detailed information about this offering through our prospectus filed with the SEC, ensuring transparency and informed decision-making.
**Interviewer**: As a closing thought, how do you see this funding impacting Citius Pharmaceuticals in the coming years?
**Dr. Smith**: This infusion of capital positions us to accelerate our research and development efforts significantly. We are optimistic about the future and believe that this funding will help us advance our mission of bringing innovative therapies to patients in need. Thank you!
**Interviewer**: Thank you, Dr. Smith. We look forward to seeing how Citius Pharmaceuticals evolves with this new funding.
