Citius Pharmaceuticals, Inc.,"Citius" (OTCQB: CTXR) today announced that the Company has completed the final phase of its private placement offering of 7.6mm units for net proceeds of $4.1mm dollars. Each unit consists of one share of common stock and one warrant to purchase a share of common stock for $0.60 per share. As a result of the completion of this offering, the Company now maintains 73 million common voting shares outstanding. Citius intends to use the proceeds of this offering for product development and general working capital purposes.
About Citius Pharmaceuticals, Inc.
Citius is a specialty pharmaceutical company dedicated to the development and commercialization of critical care products with primary focus on anti-infectives and adjunctive cancer-care drug products using innovative, patented or proprietary formulations of previously approved pharmaceuticals. We seek to achieve leading market positions by providing therapeutic products that address unmet medical needs. By using previously approved drugs with substantial safety and efficacy data, we seek to reduce the risks associated with pharmaceutical product development and regulatory requirements. We focus on developing products that have intellectual property protection and competitive advantages to existing therapeutic approaches.