Each brokerage/analyst has given CTXR a target over 200% higher than this Nasdaq past champ's closing valuation as of Thursday.
What's even better is HC Wainwright has boosted their target from $4.00 to $6.00 this year.
Could CTXR really be as undervalued as these brokerages/analysts suppose?
No. 2 CTXR Potential Catalyst - Important Business Update Shows Company's Overly Encouraging Path
Citius Pharmaceuticals, Inc. Reports Fiscal Third Quarter 2022 Fi-nan-cial Results and Provides Business Update
$48.0Mn in cash and cash equivalents as of June 30, 2022 to support ongoing programs through August 2023
International sites for Mino-Lok® Phase 3 trial engaged as recruitment accelerates
I/ONTAK Biologics License Application (BLA) on track for 2H 2022 submission
CRANFORD, N.J., Aug. 11, 2022 /PRNewswire/ -- Citius Pharmaceuticals, Inc. ("Citius" or the "Company") (Nasdaq: CTXR), a late-stage biopharmaceutical company developing and commercializing first-in-class critical care products, today reported business and fin-an-cial results for the third fiscal quarter of 2022 ended June 30, 2022.
Fiscal Q3 2022 Business Highlights and Subsequent Developments
- Mino-Lok® Phase 3 trial recruitment approached pre-CV-19 pace; international trial sites engaged to accelerate trial enrollment; Company reiterates 92 failure events required for trial completion;
- Halo-Lido Phase 2b trial initiated; enrollment completion anticipated by end of 2022;
- I/ONTAK (denileukin diftitox) topline results show no new safety signals and are consistent with prior formulation (ONTAK);
- Pre-BLA meeting held with the FDA for I/ONTAK; biologics license application (BLA) remains on track for submission in the second half of 2022; and,
- Announced intention to spinoff I/ONTAK into standalone oncology-focused publicly traded company.
"Citius made solid progress during the quarter to advance our multiple programs. We expanded the Phase 3 Mino-Lok trial to include international sites with the intention of increasing and accelerating enrollment. Our efforts remain focused on driving patient recruitment, which we believe will hasten trial completion. Based on the current the pace of enrollment and the ramp up of our international sites, we expect to enroll the last patient, to complete the trial by the end of 2022, subsequently with the required number of events," stated Leonard Mazur, Chairman and CEO of Citius.
"Our I/ONTAK program remains on track with an anticipated BLA submission later this year. Topline results for the Phase 3 trial of I/ONTAK were consistent with the prior FDA-approved formulation (ONTAK) and we believe there remains a significant unmet medical need in the market for CTCL patients. We recently completed a pre-BLA meeting with the U.S. Food and Drug Administration (FDA) and appreciate their continued guidance. Additionally, the Halo-Lido Phase 2b trial for the treatment of hemorrhoids was initiated during the quarter and we remain encouraged that we may complete enrollment in this trial by the end of the year," added Mazur.
"Our balance sheet remains strong with $48Mn in cash available and no debt, providing us with greater strategic and financing flexibility than many of our peers. We believe these funds are sufficient to allow us to execute our activities through August 2023..."
Read the full article here.
No. 3 CTXR Potential Catalyst - Company Aims To Optimize Commercialization Efforts Of 2 Late-Stage Product Candidates
Citius Pharmaceuticals, Inc. Announces Intention to Spinoff Late-Stage Oncology Asset, I/ONTAK, into a New Standalone Publicly Traded Company
IPO with distribution of shares to Citius shareholders planned for 2H 2022
Citius would retain Mino-Lok and other pipeline assets and continue to trade on Nasdaq (ticker: CTXR)
CRANFORD, N.J., May 25, 2022 /PRNewswire/ -- Citius Pharmaceuticals, Inc. ("Citius" or the "Company") (Nasdaq: CTXR), a late-stage biopharmaceutical company developing and commercializing first-in-class critical care products, today announced that it intends to split the Company's assets into two separate publicly-traded entities. Citius plans to form a new company (NewCo) focused on developing and commercializing I/ONTAK, for which a Phase 3 trial was completed in December 2021 and a biologics license application (BLA) is being planned for submission in the second half of 2022. The Company's other pipeline assets, including Mino-Lok®, would remain at Citius. Citius would continue to trade on the Nasdaq exchange under its current ticker CTXR. The strategic action is intended to optimize organizational resources and in-vest-ment capital to support the successful execution of each development program.
"As Citius prepares for the commercialization of its two late-stage product candidates, I/ONTAK and Mino-Lok, we believe that the market has not adequately valued the potential of our recent I/ONTAK licensing agreement. It is our view that a spinoff and IPO would create two focused standalone public companies that are better positioned to pursue their strategic priorities, in-vest in growth opp's and attract new in-vest-ors. Upon completion of the transactions, NewCo would be a pure-play oncology-focused biopharmaceutical company. Citius would retain i0074s Mino-Lok antibiotic lock solution at the core of its diversified pipeline. The planned transactions underscore our commitment to provide patients with superior therapeutics and reinforce our alignment with the needs of shareholders to deliver long term growth. Our intention is that the spinoff will be non-dilutive and tax-fee to Citius shareholders," stated Leonard Mazur, Chairman and CEO of Citius.
Citius intends the spinoff to be accomplished through an initial public offering (IPO) and pro rata distribution of stock in the NewCo to Citius shareholders. The spinoff and distribution of st-ock is expected to occur in a manner intended to qualify as a tax-free transaction for U.S. shareholders.
The transactions are expected to be completed in the second half of calendar year 2022, subject to the satisfaction of customary conditions, including final approval from the Citius Board of Directors, regulatory approvals and SEC filings.
There can be no assurance regarding the ultimate timing of the proposed transaction or that the transaction will be completed at all.
Read the full article here.
No. 4 CTXR Potential Catalyst - Key Technical Indicators Are Leaning Oversold
As of 2:00PM EST Thursday, Barchart was reporting this profile to have several oversold leaning technicals.
These technicals could be signaling a healthy reversal in the near term.
Here's the definition of a "reversal" from Investopedia:
"A reversal is a change in the price direction of an asset. A reversal can occur to the upside or downside. Following an uptrend, a reversal would be to the downside. Following a downtrend, a reversal would be to the upside. Reversals are based on overall price direction and are not typically based on one or two periods/bars on a chart."
Now, here are some key technicals (as of 2:00PM EST Thursday) that could signal CTXR to be leaning oversold and on the verge of a potential reversal.
- 9-Day Relative Strength Index: 38.90%
When these numbers drop down to the 30% range and lower, they can be viewed as being in oversold territory. While in this territory, they can paint the picture of a profile that is undervalued.
- 14-Day Raw Stochastic: 2.38%
- 14-Day Williams %R: 97.62%
As the Raw Stochastic nears the 10% range and lower and the Williams %R nears the 90% range or higher, these technical indicators may also be viewed as oversold and undervalued.
Keep an eye on these technicals closely.
CTXR Recap - 4 Potential Catalysts For This Nasdaq Past Champ
No. 1 - Strong Analyst Coverage Including A Pair Of $6.00 Targets
No. 2 - Important Business Update Shows Company's Overly Encouraging Path
No. 3 - Company Aims To Optimize Commercialization Efforts Of 2 Late-Stage Product Candidates
No. 4 - Key Technical Indicators Are Leaning Oversold
Coverage is officially reinitiated on CTXR. When you have time later, do this: