CRANFORD, New Jersey, February 19, 2021 / PRNewswire / – Citius Pharmaceuticals, Inc. (Nasdaq: CTXR) (“Citius” or the “Company”), a specialty pharmaceutical company focused on the development and commercialization of critical care pharmaceuticals, today announced that it has completed the previously announced sale of a total of 50,830,566 shares of its common stock and accompanying warrants to purchase up to a total of 25,415,283 shares of its common stock, at a purchase price of $ 1.505 per share and the accompanying warrant as part of a direct offer recorded at market price in accordance with Nasdaq rules.

HC Wainwright & Co. acted as the exclusive placement agent for the offering.

The warrants have an exercise price of $ 1.70 per share, are immediately exercisable and will expire five years after the date of issue.

The total gross proceeds the Company will derive from the offering is approximately $ 76.5 million, before deduction of placement agent fees and other offering fees payable by the Company. Citius currently intends to use the net proceeds of the offering for general corporate purposes, including preclinical and clinical development of our product candidates and working capital and capital expenditures.

The securities described above were offered under a “shelf” registration statement (file no. 333-248748) filed with the Securities and Exchange Commission (SEC) and declared effective on September 25, 2020, and an additional registration statement on Form S-3 (file no.333-253179) filed on February 16, 2021 in accordance with Rule 462 (b), which came into force automatically upon filing. The offer was made only by means of a prospectus, including a prospectus supplement, which is part of the actual registration statement. A final prospectus supplement and accompanying prospectus relating to the Offered Securities have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Electronic copies of the Final Prospectus Supplement and accompanying prospectus relating to the securities being offered may also be obtained by contacting HC Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, New York State 10022, by calling (646) 975-6996 or by emailing placements@hcwco.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described in this document, and there will be no sale of such securities in any state or jurisdiction in which such offering, solicitation or sale would be illegal. prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Citius Pharmaceuticals, Inc.

Citius is an advanced stage specialty pharmaceutical company dedicated to the development and commercialization of critical care products, with a focus on anti-infective and cancer care. For more information, please visit www.citiuspharma.com.

Forward-looking statements

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on our expectations and beliefs regarding future events affecting Citius . You can identify these statements by the fact that they use words such as “will”, “anticipate”, “estimate”, “expect”, “should” and “could” and other words and terms with meaning similar or future Rendezvous use. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could adversely affect our business, results of operations, financial condition and share price, and all include statements regarding the intended use of the net proceeds of the registered direct offer . Factors that could cause actual results to differ materially from those currently anticipated are: market and other conditions; our ability to initiate and successfully complete clinical trials and the results of such trials for our product candidates; our need for substantial additional funds; risks linked to the results of research and development activities; uncertainties relating to preclinical and clinical trials; the initial stage of products under development; the estimated markets for our product candidates and their acceptance by any market; the risks associated with our growth strategy; patent and intellectual property issues, our ability to attract, integrate and retain key personnel; our ability to secure, execute and maintain funding and strategic agreements and relationships; our ability to identify, acquire, close and integrate product candidates and businesses successfully and in a timely manner; our dependence on third party suppliers; government regulations; competition; as well as other risks described in our filings with the SEC. We expressly disclaim any obligation or commitment to publicly release any update or revision to any forward-looking statement contained herein to reflect any change in our expectations or any change in the events, conditions or circumstances upon which such statement is based, unless required by law.

Contact:

Andrew Scott
Vice-President, Corporate Development
(O) 908-967-6677 ext 105
ascott@citiuspharma.com

Cision

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SOURCE Citius Pharmaceuticals, Inc.

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