24/7 Market News Snapshot 18 November, 2024 – Citius Pharmaceuticals Inc. Common (NASDAQ:CTXR)

November 18, 2024

DENVER, Colo., 18 November, 2024 (247marketnews.com) – (NASDAQ:CTXR) are discussed in this article.
Citius Pharmaceuticals Inc. has demonstrated robust market activity, opening trading at $0.202 and reaching a current price of $0.222, representing an approximate 11% increase from the previous closing price of $0.200. This surge in share price is accompanied by a trading volume of 12.44 million shares, highlighting increased investor engagement and interest. Analysts are observing key resistance levels at $0.225 and $0.230, while support may emerge around $0.210. The positive momentum in both price and volume signals potential for continued upward trends, prompting further evaluation for strategic investment opportunities.

Additionally, Citius Pharmaceuticals has successfully completed a registered direct offering that secured $3 million in funding through the sale of 12 million shares of common stock, accompanied by warrants, with a per-share pricing set at $0.25. The newly issued warrants are both exercisable immediately and will remain valid for five years. This financing endeavor was facilitated by H.C. Wainwright & Co. and is expected to bolster the company’s efforts in advancing its innovative critical care product pipeline.

The proceeds from this offering will be directed towards essential corporate objectives, including the ongoing pre-clinical and clinical advancement of Citius’s promising product candidates, alongside general working capital needs. Notably, the company recently received FDA approval for its first-in-class targeted immunotherapy, LYMPHIR™, aimed at treating cutaneous T-cell lymphoma, and is progressing with its late-stage product, Mino-Lok®, alongside CITI-002 (Halo-Lido) for hemorrhoid relief.

Citius Pharmaceuticals remains committed to advancing its healthcare solutions, with this funding serving as a significant milestone in enhancing its product offerings and improving patient outcomes. Stakeholders can anticipate forthcoming updates as the company continues its trajectory of growth and innovation in the pharmaceutical industry.

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