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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
January 23, 2024
Citius Pharmaceuticals, Inc.
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction of incorporation)
001-38174 |
|
27-3425913 |
(Commission
File Number) |
|
(IRS
Employer Identification No.) |
11 Commerce Drive, 1st Floor, Cranford, NJ |
|
07016 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s telephone number, including area code
(908) 967-6677
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
☐ | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
☐ | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
☐ | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common stock, $0.001 par value |
|
CTXR |
|
The Nasdaq Capital Market |
Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On January 23, 2024, we issued a press release
announcing the nomination of pharmaceutical executive, Robert J. Smith, to our Board of Directors. The nomination of Mr. Smith is subject
to shareholder approval at the annual meeting to be held on March 12, 2024. A copy of the press release is attached hereto as Exhibit
99.1 and incorporated herein by reference.
Item 9.01 Financial Statements and
Exhibits.
(d) Exhibits.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
CITIUS
PHARMACEUTICALS, INC. |
|
|
Date: January
23, 2024 |
/s/
Leonard Mazur |
|
Leonard
Mazur |
|
Chairman
and Chief Executive Officer |
2
Exhibit 99.1
Citius Pharmaceuticals Announces Nomination
of Pharmaceutical Executive Robert J. Smith to its Board of Directors
Independent Director nominee expected to be elected
at Annual Shareholders’ Meeting in March 2024
CRANFORD, N.J., January 23, 2024 -- Citius
Pharmaceuticals, Inc. (“Citius” or the “Company”) (Nasdaq: CTXR), a late-stage biopharmaceutical
company dedicated to the development and commercialization of first-in-class critical care products today announced the nomination
of seasoned pharmaceutical executive Robert J. Smith to its Board of Directors. The nomination of Mr. Smith is subject to shareholder
approval at the Citius Annual Shareholders’ Meeting to be held on March 12, 2024. Upon approval, the Citius Board of Directors will
consist of seven members.
“Throughout his distinguished career spanning
more than three decades as a key executive at leading pharmaceutical companies including Pfizer and Wyeth, Bob has been instrumental in
driving business growth and enhancing shareholder value. He has shaped and executed numerous successful business strategies with his deep
understanding of business development, mergers and acquisitions, corporate and commercial strategy, and research and development. We are
privileged to have an executive of Bob’s caliber join our Board of Directors. We are confident that Bob’s insights will complement
the expertise of our current Board and provide an important perspective as we advance our pipeline, build our commercial capabilities,
and position Citius for growth,” stated Leonard Mazur, Chairman and CEO of Citius.
“This is a pivotal time for Citius as it
prepares to transition from a clinical-stage company to a commercial organization. I am excited to work with talented executives guided
by improving patient care and mindful of shareholder interests. As the Company makes progress in its late-stage development programs,
I look forward to partnering with fellow members of the Board of Directors alongside Citius management to evaluate the multiple value-creating
opportunities ahead,” stated Mr. Smith.
Mr. Smith is an accomplished biopharmaceutical
executive who has driven commercial, financial, and operational success at leading pharmaceutical companies for more than 35 years. As
Senior Vice President, Global Gene Therapy Business for the past eight years, Mr. Smith led Pfizer’s global gene therapy business
and he was also responsible for managing and leading Pfizer’s gene therapy and rare disease early commercial development activities
in partnership with the rare disease research unit. During his tenure at Pfizer, Mr. Smith also led Pfizer’s business development
and strategic transactions teams for its worldwide research and development organization and the business development and strategy teams
for Pfizer’s global animal health, Capsugel, consumer healthcare and nutrition business units, as well as the alliance management
function supporting all of Pfizer’s global biopharmaceutical business units and the worldwide research and development organization.
Mr. Smith joined Pfizer from Wyeth Pharmaceuticals
in 2009, following Pfizer’s acquisition of Wyeth, where he was responsible for leading and managing Wyeth’s global mergers
and acquisitions group. In his previous role at Wyeth as Senior Vice President of Global Licensing, he completed a wide variety of transactions
in support of Wyeth’s commercial and research and development divisions.
Mr. Smith serves or has served as a member of
the Board of Directors of AM Pharma B.V. (observer), Bamboo Therapeutics Inc., Ignite Immunotherapeutics Inc., Iterum Therapeutics Limited
(observer), Life Sciences PA – the Pennsylvania Biotechnology Association, Bio NJ – the New Jersey State Biotechnology Association,
the Duke Margolis Value Based Agreements Advisory Board, the Alliance for Regenerative Medicine (ARM) and the Foundation for Cell and
Gene Medicine (FCGM). He is a member of the Executive Committees of the ARM and FCGM Board of Directors and serves as the Chairman of
the ARM Board’s Governance and Operations Committee. Mr. Smith is also a member of the Business Advisory Board of Ocugen, Inc.,
the Investment Advisory Committee for Venture Investors LLC, Madison, Wisconsin, and the Cell and Gene Therapy Scientific Advisory Board
of the Focused Ultrasound Foundation based in Charlottesville, Virginia.
Mr. Smith obtained a B.S. in Neuroscience from
the University of Rochester and an M.B.A. in Finance and Corporate Accounting from the William E. Simon Graduate School of Business Administration
at the University of Rochester, Rochester, New York.
About Citius Pharmaceuticals, Inc.
Citius Pharma is a late-stage biopharmaceutical
company dedicated to the development and commercialization of first-in-class critical care products. The Company’s diversified pipeline
includes two late-stage product candidates. At the end of 2023, Citius completed enrollment in a Phase 3 Pivotal superiority trial of
Mino-Lok®, an antibiotic lock solution to salvage catheters in patients with catheter-related bloodstream infections. Citius is preparing
to resubmit the Biologics License Application for LYMPHIR™, a novel IL-2R immunotherapy for an initial indication in cutaneous T-cell
lymphoma, in early 2024, and announced plans to form Citius Oncology, a standalone publicly traded company with LYMPHIR as its primary
asset. LYMPHIR received orphan drug designation by the FDA for the treatment of CTCL and PTCL. In addition, Citius completed enrollment
in its Phase 2b trial of CITI-002 (Halo-Lido), a topical formulation for the relief of hemorrhoids. 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.
Such statements are made based on our expectations and beliefs concerning future events impacting Citius. You can identify these statements
by the fact that they use words such as “will,” “anticipate,” “estimate,” “expect,” “plan,”
“should,” and “may” and other words and terms of similar meaning or use of future dates. Forward-looking statements
are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business,
operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently
anticipated are: our ability to attract, integrate, and retain key personnel and Board members; the cost and timing of the resubmission
of the BLA for LYMPHIR; the FDA may not approve LYMPHIR; risks relating to the results of research and development activities, including
those from the Mino-Lok Phase 3 trial and other existing and new pipeline assets; our need for substantial additional funds; our ability
to commercialize our products if approved by the FDA; our dependence on third-party suppliers; our ability to procure cGMP commercial-scale
supply; the estimated markets for our product candidates and the acceptance thereof by any market; the ability of our product candidates
to impact the quality of life of our target patient populations; our ability to obtain, perform under and maintain financing and strategic
agreements and relationships; uncertainties relating to preclinical and clinical testing; the early stage of products under development;
market and other conditions; risks related to our growth strategy; patent and intellectual property matters; our ability to identify,
acquire, close and integrate product candidates and companies successfully and on a timely basis; government regulation; competition;
as well as other risks described in our SEC filings. These risks have been and may be further impacted by Covid-19 and could be impacted
by any future public health risks. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and
you are cautioned not to place undue reliance on these forward-looking statements. Risks regarding our business are described in detail
in our Securities and Exchange Commission (“SEC”) filings which are available on the SEC’s website at www.sec.gov, including
in our Annual Report on Form 10-K for the year ended September 30, 2023, filed with the SEC on December 29, 2023, and updated by our subsequent
filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof, and we expressly
disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein
to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based,
except as required by law.
Investor Relations for Citius Pharmaceuticals:
Investor Contact:
Ilanit Allen
ir@citiuspharma.com
908-967-6677 x113
Media Contact:
STiR-communications
Greg Salsburg
Greg@STiR-communications.com
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