Fiscal Third Quarter 2026
Filed Aug 14, 2026Citius Pharmaceuticals reported $1.5 million of fiscal third-quarter revenue from the LYMPHIR launch, while net loss applicable to common stockholders was $8.9 million and cash and cash equivalents were $17.0 million.
LYMPHIR generated its first reported commercial revenue and institutional ordering expanded, but the Company remained loss-making, general and administrative expenses increased, and nine-month operating cash use was $22,986,413.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Revenue, three months ended June 30GAAP | $ 1,493,788 | – | – |
| Revenue, nine months ended June 30GAAP | $ 7,105,197 | – | – |
| Cost of revenues, three months ended June 30GAAP | $ (491,843 ) | – | – |
| Cost of revenues, nine months ended June 30GAAP | $ (1,609,929 ) | – | – |
| Gross profit, three months ended June 30GAAP | $ 1,001,945 | – | – |
| Gross margin, three months ended June 30GAAP | approximately 67% | – | – |
| Gross profit, nine months ended June 30GAAP | $ 5,495,268 | – | – |
| Gross margin, nine months ended June 30GAAP | approximately 77% | – | – |
| Research and development expense, three months ended June 30GAAP | $ 1,053,869 | – | – |
| Research and development expense, nine months ended June 30GAAP | $ 4,287,106 | – | – |
| Amortization of in-process research and development, three months ended June 30GAAP | $ 1,720,312 | – | – |
| Amortization of in-process research and development, nine months ended June 30GAAP | $ 4,014,062 | – | – |
| General and administrative expense, three months ended June 30GAAP | $ 6,149,173 | – | – |
| General and administrative expense, nine months ended June 30GAAP | $ 38,261,001 | – | – |
| Stock-based compensation expense, three months ended June 30GAAP | $ 3,810,665 | – | – |
| Stock-based compensation expense, nine months ended June 30GAAP | $ 11,879,167 | – | – |
| Total operating expenses, three months ended June 30GAAP | $ 12,734,019 | – | – |
| Total operating expenses, nine months ended June 30GAAP | $ 58,441,336 | – | – |
| Operating loss, three months ended June 30GAAP | $ (11,732,074 ) | – | – |
| Operating loss, nine months ended June 30GAAP | $ (52,946,068 ) | – | – |
| Net loss, three months ended June 30GAAP | $ (11,919,260 ) | – | – |
| Net loss, nine months ended June 30GAAP | $ (49,422,895 ) | – | – |
| Net loss applicable to common stockholders, three months ended June 30GAAP | $ (8,862,843 ) | – | – |
| Net loss applicable to common stockholders, nine months ended June 30GAAP | $ (38,314,768 ) | – | – |
| Net loss per share, basic and diluted, three months ended June 30GAAP | $ (0.34 ) | – | – |
| Net loss per share, basic and diluted, nine months ended June 30GAAP | $ (1.64 ) | – | – |
| Net cash used in operating activities, nine months ended June 30GAAP | $ (22,986,413 ) | – | – |
| Cash and cash equivalentsGAAP | $ 17,007,523 | – | – |
| Notes payable, net of deferred financing feesGAAP | $ 6,410,161 | – | – |
What drove it
- LYMPHIR was available in 44 institutions, including academic oncology centers, leading National Comprehensive Cancer Network institutions and community infusion centers.
- The number of new institutions ordering LYMPHIR increased by 80%, and institutional vial orders from wholesalers grew by 31%.
- Institutions ordered 383 LYMPHIR vials from wholesalers in July, the largest vial order month to date.
- The Company reported near universal payer coverage, with no reimbursement denials or preauthorization barriers reported to date.
- Citius Oncology expanded its commercial organization by 21 commercial field-based professionals and added eight medical science liaisons, with nationwide deployment completed in August 2026 through EVERSANA.
- The nine-month general and administrative expense increase primarily reflected a non-recurring $19.7 million contract cancellation charge recognized in March 2026 and increased expenses related to the commercial launch of LYMPHIR.
Concerns
- Net loss applicable to common stockholders was $ (8,862,843 ) for the three months ended June 30, 2026.
- Total operating expenses were $ 12,734,019 for the three months ended June 30, 2026, compared with $ 8,788,007 for the three months ended June 30, 2025.
- Net cash used in operating activities was $ (22,986,413 ) for the nine months ended June 30, 2026.
- The forward-looking statements identify a need for substantial additional funds and the ability to raise additional money to fund operations for at least the next 12 months as a going concern as a risk factor.
- The forward-looking statements identify the ability to regain compliance with Nasdaq's continued listing standards as a risk factor.
What to watch
- Institutional vial ordering and the conversion of formulary access at the 44 institutions into commercial LYMPHIR revenue.
- Execution by the 29-person nationwide commercial and medical affairs organization.
- The durability of payer access, with the Company reporting near universal coverage and no reimbursement denials or preauthorization barriers to date.
- FDA discussions outlining next steps for Mino-Lok and CITI-002 (Halo-Lido).
- Funding activity under the Citius Oncology senior secured term loan facility of up to $25.0 million.
Balance sheet and cash flow
- Cash and cash equivalents were $ 17,007,523 as of June 30, 2026, compared with $ 4,252,290 as of September 30, 2025.
- Accounts receivable, net of allowances, were $ 686,235 as of June 30, 2026.
- Inventory was $ 22,625,945 as of June 30, 2026, compared with $ 22,286,693 as of September 30, 2025.
- Notes payable, net of deferred financing fees, were $ 6,410,161 as of June 30, 2026.
- Net cash used in operating activities was $ (22,986,413 ) for the nine months ended June 30, 2026, compared with $ (14,671,948 ) for the nine months ended June 30, 2025.
- Net cash used in investing activities was $ (7,000,000 ) for the nine months ended June 30, 2026, consisting of license fee payments.
- Net cash provided by financing activities was $ 42,741,646 for the nine months ended June 30, 2026, compared with $ 17,509,194 for the nine months ended June 30, 2025.
- Net proceeds from loan agreement were $ 9,635,000 for the nine months ended June 30, 2026.
- Proceeds from exercise of warrants were $ 9,731,103 for the nine months ended June 30, 2026.
- Net proceeds from common stock offerings were $ 25,268,094 for the nine months ended June 30, 2026.
Analysis
Citius Pharma reported $ 1,493,788 of revenue and $ 1,001,945 of gross profit in the fiscal third quarter, compared with no revenue and no gross profit in the prior-year quarter. The release identifies commercial sales of LYMPHIR as the source of the first nine months' $ 7,105,197 of revenue. Commercial indicators included availability at 44 institutions, an 80% increase in new institutions ordering LYMPHIR, and 31% growth in institutional vial orders from wholesalers. July institutional orders reached 383 vials, which the Company described as its largest vial order month to date.
Profitability remained negative as launch and corporate costs exceeded gross profit. Total operating expenses were $ 12,734,019 in the quarter, including $ 6,149,173 of general and administrative expense, $ 3,810,665 of stock-based compensation expense, $ 1,720,312 of in-process research and development amortization, and $ 1,053,869 of research and development expense. Operating loss was $ (11,732,074 ), and net loss applicable to common stockholders was $ (8,862,843 ), or $ (0.34 ) per share. The prior-year quarterly net loss applicable to common stockholders was $ (8,789,872 ), or $ (0.80 ) per share.
For the nine-month period, general and administrative expense was $ 38,261,001 compared with $ 14,626,882 in the prior-year period. The Company attributed the increase primarily to a non-recurring $19.7 million contract cancellation charge recognized in March 2026 and increased LYMPHIR commercial-launch expenses. Nine-month operating loss was $ (52,946,068 ), while net cash used in operating activities was $ (22,986,413 ). Research and development expense declined to $ 4,287,106 from $ 7,514,888 for the nine-month periods presented, while stock-based compensation expense increased to $ 11,879,167 from $ 7,946,529.
Liquidity at June 30, 2026 was $ 17,007,523 of cash and cash equivalents, versus $ 4,252,290 at September 30, 2025. Financing cash flows for the nine-month period included $ 9,635,000 of net proceeds from a loan agreement, $ 9,731,103 of warrant exercise proceeds, and $ 25,268,094 of net proceeds from common stock offerings. The balance sheet also reported $ 6,410,161 of notes payable, net of deferred financing fees. The Company provided no quantitative financial guidance, so the immediate operating focus remains continued LYMPHIR order growth, commercial execution following the August nationwide deployment, and the cash demands of the launch.
Management, verbatim
The LYMPHIR launch continued to build momentum in our fiscal third quarter and remains the primary driver of our business.
Leonard Mazur, Chairman and Chief Executive Officer of Citius Pharma and Citius Oncology
These indicators demonstrate meaningful progress in formulary access and treatment-driven demand as physicians gain familiarity with LYMPHIR’s differentiated clinical profile.
Leonard Mazur, Chairman and Chief Executive Officer of Citius Pharma and Citius Oncology
As we scale, we remain focused on disciplined execution and building the long-term sustainable value of LYMPHIR.
Leonard Mazur, Chairman and Chief Executive Officer of Citius Pharma and Citius Oncology
Not in the filing
stated, not guessed- Quantitative financial guidance
- Previous-quarter financial metrics and quarter-over-quarter changes
- Non-GAAP revenue, gross profit, operating income, net income, EPS, or cash flow measures
- Reported operating income, as the Company reported operating loss instead
- Free cash flow
- Share repurchases
- Dividend declaration or payment
- Revenue by reportable segment
- Prior-year gross-margin percentages
- Quarterly operating cash flow
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.