Citius Pharmaceuticals Inc (NASDAQ: CTXR) closed at $3.69 on Friday, up 2.5%. Its yearly range is $0.78 – $3.87. Inching closer to its all-time high, the biopharmaceutical company has a market capitalization of 499.90M USD. The company, which aims to create care products for cancer patients, has recently appointed Dr. John Laffey to its ARDS advisory board. The company is aimed at propelling the i-MSC program.
Lead product candidates propelling
The company, at present, is whooshing into the future with three leading product candidates, which include CITI-101 (Mino-Wrap), CITI-002 (Halo Lido), and Mino-Lok. Additionally, Citius also has a therapy that treats ARDS or Acute Respiratory Distress Syndrome, including the one associated with much talked about COVID-19.
Mino-Lok Phase 3 trial milestone
The company has been riding high with the following interim analysis for Mino-Lok Phase 3 trial. On June 29, DMC or the autonomous Data Monitoring Committee will review its futility, superiority, and safety. DMC is expected to evaluate unblinded study data while also providing written recommendations for the company in the week that follows. Even though the initial meeting was scheduled to take place in May first week, but catheter failures for Mino-Lok Arm led to the delay. It is expected that if DMC gives a halt for superiority recommendation to Citius, things could escalate from there. Mino-Lok already has a Fast Track designation, which facilitates expedited drug reviews for treating life-threatening conditions, among other benefits.
What’s more? The factor that drives this company is its exceptional leadership, where Leonard Mazur serves as the company’s board Chairman. His extensive standing and research in creating a brand for the M&A space are unmatched. Talking specifically of the insiders, Mr. Mazur and Holubiak have more than 13.5M shares, which they haven’t sold until now (June 2021). Thus, insiders have as many as 11% of the total shares of this company. This figure becomes essential to talk about because it is not usual for clinical biotech management to hold such a high percentage of shares or ownership. This instills hopes in investors for the confidence of management in drug approval.