Citius Pharmaceuticals, Inc. (OTCQB: CTXR), a specialty biopharmaceutical company that develops and commercializes therapeutics products, has been a topic of conversation among analysts since the initiation of its phase III clinical trial of Mino-Lok™, an antibiotic lock solution used to salvage infected central venous catheters and treat bloodstream infections that stem from catheters.
This phase III randomized, double-blind, multi-center study involves 700 patients and has a primary goal of measuring whether or not the majority of subjects have overall success maintaining the treated central venous catheters during the cure test in week eight. The company will also be testing the drug for safety, tolerability, vital signs, serious adverse events, physical examinations, and clinical laboratory evaluations.
According to the company, the phase III clinical trial is expected to take two years to complete, with enrollment of the first patient anticipated for the beginning of 2017. Citius also has a second drug in late stage development, a hydrocortisone and lidocaine cream, which the company expects to become the first prescription product to treat people with hemorrhoids in the U.S. market that is approved by the Food and Drug Administration (FDA).
The company has been described by Insider Financial (http://nnw.fm/2WF4b) as one of the most exciting situations it has seen in small caps, and, in October of this year, Oracle Dispatch (http://nnw.fm/U3nnv) said, “Citius Pharmaceuticals, Inc. is a micro-cap stock that’s grabbed hold of the attention of traders during the stock’s recent bounce off of key support in the $0.60-$0.75 ranged.” The company is currently trading at $0.46 per share, representing a 4.55% growth rate.
According to the article by Insider Financial, Citius Pharmaceuticals recently completed a private placement offering of 7.6 million units for net proceeds of over $4 million. Citius Pharmaceuticals, Inc. now has a market cap of approximately $54.7 million, with total assets equating to over $23 million. The combination of two promising drugs on the horizon and an investment of $3 million in the company from Chairman Leonard Mazur (in exchange for five million restricted shares) gives CTXR sufficient funding to move forward.
For more information, visit the company’s website at www.CitiusPharma.com
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