2022 Q3 Form 10-Q Financial Statement
#000121390022046897 Filed on August 11, 2022
Income Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
Revenue | $0.00 | $0.00 | |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $3.692M | $4.028M | $4.138M |
YoY Change | 26.93% | 6.55% | 56.76% |
% of Gross Profit | |||
Research & Development | $3.857M | $4.888M | $3.452M |
YoY Change | 68.13% | 121.81% | 122.72% |
% of Gross Profit | |||
Depreciation & Amortization | $730.00 | $730.00 | $730.00 |
YoY Change | 0.0% | -3.95% | |
% of Gross Profit | |||
Operating Expenses | $7.550M | $8.917M | $7.591M |
YoY Change | 45.09% | 49.0% | 81.16% |
Operating Profit | -$8.917M | -$7.591M | |
YoY Change | 49.0% | ||
Interest Expense | $134.8K | $29.57K | |
YoY Change | 78.35% | -57.76% | |
% of Operating Profit | |||
Other Income/Expense, Net | $0.00 | $0.00 | |
YoY Change | -100.0% | ||
Pretax Income | -$7.415M | -$8.864M | -$7.561M |
YoY Change | 49.46% | 52.19% | 83.52% |
Income Tax | $576.0K | ||
% Of Pretax Income | |||
Net Earnings | -$7.991M | -$8.864M | -$7.561M |
YoY Change | 61.07% | 52.19% | 83.41% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.06 | -$0.05 | |
Diluted Earnings Per Share | -$54.68K | -$0.06 | -$51.77K |
COMMON SHARES | |||
Basic Shares Outstanding | 146.1M shares | 146.1M shares | 146.0M shares |
Diluted Shares Outstanding | 146.1M shares | 146.0M shares |
Balance Sheet
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $41.71M | $48.04M | $55.76M |
YoY Change | -40.47% | -58.46% | -46.23% |
Cash & Equivalents | $41.71M | $48.04M | $55.76M |
Short-Term Investments | |||
Other Short-Term Assets | $2.853M | $2.790M | $2.503M |
YoY Change | 4.06% | 119.47% | 92.55% |
Inventory | |||
Prepaid Expenses | $2.853M | $2.790M | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $44.56M | $50.83M | $58.26M |
YoY Change | -38.8% | -56.53% | -44.51% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $4.100K | $4.831K | $741.8K |
YoY Change | -41.62% | -99.45% | -17.58% |
Goodwill | $9.347M | $9.347M | |
YoY Change | 0.0% | ||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $38.06K | $38.06K | $38.06K |
YoY Change | 0.0% | 0.0% | |
Total Long-Term Assets | $69.44M | $69.48M | $69.53M |
YoY Change | -0.26% | 134.28% | 134.1% |
TOTAL ASSETS | |||
Total Short-Term Assets | $44.56M | $50.83M | $58.26M |
Total Long-Term Assets | $69.44M | $69.48M | $69.53M |
Total Assets | $114.0M | $120.3M | $127.8M |
YoY Change | -19.96% | -17.93% | -5.13% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $1.165M | $1.691M | $1.705M |
YoY Change | -8.75% | 24.79% | 55.01% |
Accrued Expenses | $1.405M | $1.301M | $2.317M |
YoY Change | 125.96% | -37.47% | 36.28% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% | |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $4.530M | $4.461M | $4.022M |
YoY Change | 13.75% | 23.91% | 34.06% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Other Long-Term Liabilities | $481.3K | $532.9K | $582.3K |
YoY Change | -29.04% | -26.48% | -27.21% |
Total Long-Term Liabilities | $481.3K | $532.9K | $582.3K |
YoY Change | -29.04% | -26.48% | -41.77% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $4.530M | $4.461M | $4.022M |
Total Long-Term Liabilities | $481.3K | $532.9K | $582.3K |
Total Liabilities | $10.57M | $9.980M | $10.19M |
YoY Change | 9.61% | 0.69% | 7.27% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$129.7M | -$121.7M | |
YoY Change | 35.02% | ||
Common Stock | $146.2K | $146.1K | |
YoY Change | 0.16% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $102.8M | $109.7M | $117.6M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $114.0M | $120.3M | $127.8M |
YoY Change | -19.96% | -17.93% | -5.13% |
Cashflow Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$7.991M | -$8.864M | -$7.561M |
YoY Change | 61.07% | 52.19% | 83.41% |
Depreciation, Depletion And Amortization | $730.00 | $730.00 | $730.00 |
YoY Change | 0.0% | -3.95% | |
Cash From Operating Activities | -$6.333M | -$7.712M | -$9.665M |
YoY Change | 13.26% | 60.02% | 125.82% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | $0.00 | |
YoY Change | -100.0% | -100.0% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | $0.00 | $0.00 | |
YoY Change | -100.0% | -100.0% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | 0.000 | 0.000 |
YoY Change | -100.0% | -100.0% | |
NET CHANGE | |||
Cash From Operating Activities | -6.333M | -7.712M | -9.665M |
Cash From Investing Activities | 0.000 | 0.000 | |
Cash From Financing Activities | 0.000 | 0.000 | 0.000 |
Net Change In Cash | -6.333M | -7.712M | -9.665M |
YoY Change | -86.11% | -164.41% | -109.72% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$6.333M | -$7.712M | -$9.665M |
Capital Expenditures | $0.00 | $0.00 | |
Free Cash Flow | -$6.333M | -$7.712M | |
YoY Change | -118.4% | 60.25% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
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Document Type
DocumentType
|
10-Q | ||
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Document Quarterly Report
DocumentQuarterlyReport
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true | ||
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Document Period End Date
DocumentPeriodEndDate
|
2022-06-30 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2022 | ||
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Document Transition Report
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|
false | ||
dei |
Entity File Number
EntityFileNumber
|
001-38174 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
Citius Pharmaceuticals, Inc. | ||
dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
NV | ||
dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
27-3425913 | ||
dei |
Entity Address Address Line1
EntityAddressAddressLine1
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11 Commerce Drive | ||
dei |
Entity Address Address Line2
EntityAddressAddressLine2
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First Floor | ||
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|
Cranford | ||
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Entity Address State Or Province
EntityAddressStateOrProvince
|
NJ | ||
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Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
07016 | ||
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City Area Code
CityAreaCode
|
(908) | ||
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Local Phone Number
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|
967-6677 | ||
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Security12b Title
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Common stock, $0.001 par value | ||
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Trading Symbol
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CTXR | ||
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NASDAQ | ||
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Yes | ||
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Yes | ||
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Non-accelerated Filer | ||
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Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
178000 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1020998 | usd |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-7561054 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
118195945 | usd |
CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1003677 | usd |
CY2022Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-8863632 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
110335990 | usd |
CY2020Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
33670668 | usd |
CY2020Q4 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
500 | usd |
CY2020Q4 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
276582 | usd |
CY2020Q4 | us-gaap |
Profit Loss
ProfitLoss
|
-8146909 | usd |
CY2020Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
25800841 | usd |
CY2021Q1 | ctxr |
Issuance Of Common Stock In Private Placement Offering Net Of Costs
IssuanceOfCommonStockInPrivatePlacementOfferingNetOfCosts
|
1549602 | usd |
CY2021Q1 | ctxr |
Proceeds From Issuance Of Private Placements
ProceedsFromIssuanceOfPrivatePlacements
|
18450410 | usd |
CY2021Q1 | ctxr |
Issuance Of Common Stock In Registered Direct Offering Net Of Costs
IssuanceOfCommonStockInRegisteredDirectOfferingNetOfCosts
|
5520160 | usd |
CY2021Q1 | ctxr |
Issuance Of Common Stock In Registered Direct Offering
IssuanceOfCommonStockInRegisteredDirectOffering
|
70979842 | usd |
CY2021Q1 | ctxr |
Issuance Of Common Stock Upon Exercise Of Warrants
IssuanceOfCommonStockUponExerciseOfWarrants
|
14242543 | usd |
CY2021Q1 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
68000 | usd |
CY2021Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
342962 | usd |
CY2021Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-4122432 | usd |
CY2021Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
125762166 | usd |
CY2021Q2 | ctxr |
Issuance Of Common Stock Upon Exercise Of Warrants
IssuanceOfCommonStockUponExerciseOfWarrants
|
16887591 | usd |
CY2021Q2 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
82634 | usd |
CY2021Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
373570 | usd |
CY2021Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-5824008 | usd |
CY2021Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
137281953 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-25649906 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-18093349 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2929279 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
993114 | usd | |
ctxr |
Issuance Of Common Stock For Services
IssuanceOfCommonStockForServices
|
273884 | usd | |
ctxr |
Issuance Of Common Stock For Services
IssuanceOfCommonStockForServices
|
68000 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
131235 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
121339 | usd | |
us-gaap |
Depreciation
Depreciation
|
2192 | usd | |
us-gaap |
Depreciation
Depreciation
|
761 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
48915 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
1149158 | usd | |
ctxr |
Increase Decrease In Other Deposit
IncreaseDecreaseInOtherDeposit
|
19031 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
413425 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-501571 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
679239 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
202696 | usd | |
us-gaap |
Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
|
-628499 | usd | |
us-gaap |
Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
|
-115106 | usd | |
us-gaap |
Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
|
87996 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-130686 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-117145 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-22028752 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-18659384 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
6938 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-6938 | usd | |
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
172970 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
500 | usd | |
us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
18450410 | usd | |
us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
70979842 | usd | |
us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
31130134 | usd | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
82634 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
120470550 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-22028752 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
101804228 | usd | |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
70072946 | usd |
CY2020Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
13859748 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
48044194 | usd |
CY2022Q2 | ctxr |
Working Capital
WorkingCapital
|
46400000 | usd |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
115663976 | usd |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. NATURE OF OPERATIONS, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Business</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Citius Pharmaceuticals, Inc. (“Citius,” the “Company,” “we” or “us”) is a specialty pharmaceutical company dedicated to the development and commercialization of critical care products with a focus on anti-infective products in adjunct cancer care, unique prescription products and stem cell therapy.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 30, 2016, Citius acquired Leonard-Meron Biosciences, Inc. (“LMB”) as a wholly-owned subsidiary by issuing shares of its common stock.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 11, 2020, we formed NoveCite, Inc. (“NoveCite”), a Delaware corporation, of which we own 75% (7,500,000 shares) of the issued and outstanding capital stock (see Note 3).</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 23, 2021, we formed Citius Acquisition Corp., as a wholly-owned subsidiary in conjunction with the acquisition of I/ONTAK (formerly E7777). Citius Acquisition Corp. was inactive until April 1, 2022 when it assumed the development of I/ONTAK.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In-process research and development (“IPR&D”) consists of (i) the $19,400,000 acquisition value of LMB’s leading drug candidate (Mino-Lok), which is an antibiotic solution used to treat catheter-related bloodstream infections and is expected to be amortized on a straight-line basis over a period of eight years commencing upon revenue generation, and (ii) the $40,000,000 acquisition value of the exclusive license for I/ONTAK (denileukin diftitox), which is a late-stage oncology immunotherapy for the treatment of cutaneous T-cell lymphoma (“CTCL”), a rare form of non-Hodgkin lymphoma, and is expected to be amortized on a straight-line basis over a period of twelve years commencing upon revenue generation.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill of $9,346,796 represents the value of LMB’s industry relationships and its assembled workforce. Goodwill will not be amortized but will be tested at least annually for impairment.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Citius is subject to a number of risks common to companies in the pharmaceutical industry including, but not limited to, risks related to the development by Citius or its competitors of research and development stage product candidates, market acceptance of its product candidates that might be approved, competition from larger companies, dependence on key personnel, dependence on key suppliers and strategic partners, the Company’s ability to obtain additional financing and the Company’s compliance with governmental and other regulations.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Basis of Presentation and Summary of Significant Accounting Policies</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Basis of Preparation </i>— The accompanying condensed consolidated financial statements include the operations of Citius Pharmaceuticals, Inc., and its wholly-owned subsidiaries, Citius Pharmaceuticals, LLC, LMB, and Citius Acquisition Corp., and its majority-owned subsidiary NoveCite. All significant inter-company balances and transactions have been eliminated in consolidation.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited condensed consolidated financial statements of the Company have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to fairly state the condensed consolidated financial position of the Company as of June 30, 2022, and the results of its operations and cash flows for the three and nine month periods ended June 30, 2022 and 2021. The operating results for the three- and nine-month periods ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending September 30, 2022. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended September 30, 2021 filed with the Securities and Exchange Commission.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Use of Estimates </i>— Our accounting principles require our management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of assets and liabilities at the date of the financial statements, and reported amounts of revenues and expenses during the reporting period. Estimates having relatively higher significance include stock-based compensation, accounting for leases, valuation of warrants, and income taxes. Actual results could differ from those estimates and changes in estimates may occur.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Basic and Diluted Net Loss per Common Share</i> — Basic and diluted net loss per common share applicable to common stockholders is computed by dividing net loss applicable to common stockholders in each period by the weighted average number of shares of common stock outstanding during such period. For the periods presented, common stock equivalents, consisting of stock options and warrants, were not included in the calculation of the diluted loss per share because they were anti-dilutive.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Recently Issued Accounting Standards</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-06, <i>Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity</i>, which, among other things, provides guidance on how to account for contracts on an entity’s own equity. This ASU eliminates the beneficial conversion and cash conversion accounting models for convertible instruments. It also amends the accounting for certain contracts in an entity’s own equity that are currently accounted for as derivatives because of specific settlement provisions. In addition, this ASU modifies how particular convertible instruments and certain contracts that may be settled in cash or shares impact the diluted EPS computation. The amendments in this ASU are effective for public companies for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. The Company is currently evaluating the impact of ASU 2020-06 on its consolidated financial statements.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In October 2021, the FASB issued ASU No. 2021-08, <i>Business Combinations (Topic 805): Accounting for Acquired Contract Assets and Contract Liabilities. </i>Under the new guidance (ASC 805-20-30-28), the acquirer should determine what contract assets and/or contract liabilities it would have recorded under Accounting Standards Codification (“ASC”) 606 (the revenue guidance) as of the acquisition date, as if the acquirer had entered into the original contract at the same date and on the same terms as the acquiree. The recognition and measurement of those contract assets and contract liabilities will likely be comparable to what the acquiree has recorded on its books under ASC 606 as of the acquisition date. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. ASU 2021-08 is effective for the Company in the first quarter of fiscal 2024. Early adoption is permitted, including in an interim period, for any period for which financial statements have not yet been issued. However, adoption in an interim period other than the first fiscal quarter requires an entity to apply the new guidance to all prior business combinations that have occurred since the beginning of the annual period in which the new guidance is adopted. The Company is currently evaluating the adoption date of ASU 2021-08 and the impact, if any, adoption will have on its financial position and results of operations.</span></p> | ||
CY2020Q3 | us-gaap |
Shares Issued
SharesIssued
|
7500000 | shares |
us-gaap |
Other Research And Development Expense
OtherResearchAndDevelopmentExpense
|
19400000 | usd | |
CY2022Q2 | us-gaap |
Deferred Revenue
DeferredRevenue
|
40000000 | usd |
CY2022Q2 | us-gaap |
Goodwill Gross
GoodwillGross
|
9346796 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Use of Estimates </i>— Our accounting principles require our management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of assets and liabilities at the date of the financial statements, and reported amounts of revenues and expenses during the reporting period. Estimates having relatively higher significance include stock-based compensation, accounting for leases, valuation of warrants, and income taxes. Actual results could differ from those estimates and changes in estimates may occur.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
ctxr |
Negative Cash Flow Operations
NegativeCashFlowOperations
|
22028752 | usd | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
1234 | usd | |
CY2021Q3 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
166557 | usd |
CY2021Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
423 | usd |
us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
90000 | usd | |
us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
90000 | usd | |
us-gaap |
Royalty Expense
RoyaltyExpense
|
100000 | usd | |
us-gaap |
Proceeds From Royalties Received
ProceedsFromRoyaltiesReceived
|
25000 | usd | |
ctxr |
Maximum Aggregate Annual Royalties
MaximumAggregateAnnualRoyalties
|
150000 | usd | |
us-gaap |
Payments For Leasing Costs
PaymentsForLeasingCosts
|
1100000 | usd | |
CY2022Q1 | ctxr |
Annual Maintenance Fee
AnnualMaintenanceFee
|
60000 | usd |
CY2021Q1 | ctxr |
Annual Maintenance Fee
AnnualMaintenanceFee
|
45000 | usd |
ctxr |
Developmental Milestone Description
DevelopmentalMilestoneDescription
|
NoveCite is obligated to pay Novellus up to an aggregate of $51,000,000 upon the achievement of various regulatory and developmental milestones. NoveCite also must pay a royalty equal to low double-digit percentages of net sales, commencing upon the sale of a licensed product. This royalty is subject to downward adjustment to an upper-single digit percentage of net sales in any country in the event of the expiration of the last valid patent claim or if no valid patent claim exists in that country. The royalty will end on the earlier of (i) the date on which a biosimilar product is first marketed, sold, or distributed in the applicable country or (ii) the 10-year anniversary of the date of expiration of the last-to-expire valid patent claim in that country. In the case of a country where no licensed patent ever exists, the royalty will end on the later of (i) the date of expiry of such licensed product’s regulatory exclusivity and (ii) the 10-year anniversary of the date of the first commercial sale of the licensed product in the applicable country. In addition, NoveCite will pay to Novellus an amount equal to a mid-twenties percentage of any sublicensee fees it receives. | ||
CY2022Q2 | us-gaap |
Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
|
0.50 | pure |
us-gaap |
Debt Instrument Description Of Variable Rate Basis
DebtInstrumentDescriptionOfVariableRateBasis
|
Under the license agreement, Eisai is to receive a $6.0 million development milestone payment upon initial approval and additional commercial milestone payments related to the achievement of net product sales thresholds (which increases to $7.0 million in the event we have exercised our option to add India to the licensed territory prior to FDA approval) and up to an aggregate of $22 million related to the achievement of net product sales thresholds. We also are required to reimburse Eisai for up to $2.65 million of its costs to complete the ongoing Phase 3 pivotal clinical trial for I/ONTAK for the CTCL indication and reimburse Eisai for all reasonable costs associated with the preparation of a BLA for I/ONTAK. | ||
ctxr |
Description Of License Agreement
DescriptionOfLicenseAgreement
|
The term of the license agreement will continue until (i) if there has not been a commercial sale of a licensed product in the territory, until the 10-year anniversary of the original license effective date, March 30, 2016, or (ii) if there has been a first commercial sale of a licensed product in the territory within the 10-year anniversary of the original license effective date, the 10-year anniversary of the first commercial sale on a country-by-country basis. The term of the license may be extended for additional 10-year periods for all countries in the territory by notifying Eisai and paying an extension fee equal to $10 million. | ||
CY2021Q2 | us-gaap |
Debt Instrument Description
DebtInstrumentDescription
|
Notes with a principal balance of $104,000 accrued interest at the prime rate plus 1.0% per annum and notes with a principal balance of $68,970 accrued interest at 12% per annum. | |
CY2021Q2 | us-gaap |
Notes Payable
NotesPayable
|
172970 | usd |
CY2021Q2 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
38917 | usd |
CY2021Q2 | us-gaap |
Interest Income Other
InterestIncomeOther
|
59917 | usd |
us-gaap |
Interest Income Other
InterestIncomeOther
|
59917 | usd | |
CY2021Q2 | us-gaap |
Interest Expense Related Party
InterestExpenseRelatedParty
|
2509 | usd |
us-gaap |
Interest Expense Related Party
InterestExpenseRelatedParty
|
9605 | usd | |
CY2020Q2 | ctxr |
Paycheck Protection Program Description
PaycheckProtectionProgramDescription
|
the Company applied for a forgivable loan through the Small Business Association’s Paycheck Protection Program (the “PPP”). The loan accrued interest at a rate of 1% and was forgivable if it was used to pay qualifying costs such as payroll, rent and utilities. On April 15, 2020, the Company received $164,583 from the PPP. | |
dei |
Amendment Flag
AmendmentFlag
|
false | ||
CY2022Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
236478 | usd |
CY2021Q1 | ctxr |
Common Stock Offerings Description
CommonStockOfferingsDescription
|
the Company closed a private placement for 15,455,960 common shares and warrants to purchase 7,727,980 common shares, at a purchase price of $1.294 per common share and accompanying warrant, for gross proceeds of $20,000,012. The 7,727,980 warrants are immediately exercisable at $1.231 per common share for a term of five and one-half years. The Company paid the placement agent a fee of 7% of the gross proceeds totaling $1,400,001 and issued the placement agent 1,081,917 immediately exercisable warrants at $1.6175 per common share for a term of five and one-half years. The Company also reimbursed the placement agent for $85,000 in expenses and incurred $64,601 in other expenses. Net proceeds from the offering were $18,450,410. The estimated fair value of the 7,727,980 warrants issued to the investors was approximately $7,582,000 and the estimated fair value of the 1,081,917 warrants issued to the placement agent was approximately $1,025,000. | |
CY2022Q1 | us-gaap |
Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
|
100000 | shares |
CY2022Q1 | us-gaap |
Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
|
178000 | usd |
CY2022Q2 | ctxr |
Option To Purchase Share Outstanding
OptionToPurchaseShareOutstanding
|
4855000 | shares |
CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
5755171 | shares |
CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.13 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y7D | ||
CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
3589392 | usd |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
3645000 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
1.97 | ||
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
9400171 | shares |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.07 | |
ctxr |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm1
|
P8Y21D | ||
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
302939 | usd |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
3675742 | shares |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
2.48 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P6Y6M21D | ||
CY2021Q4 | us-gaap |
Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
|
175000 | shares |
CY2021Q4 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
2.04 | |
CY2021Q4 | us-gaap |
Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
|
200000 | shares |
CY2021Q4 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
1.87 | |
CY2022Q1 | us-gaap |
Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
|
300000 | shares |
CY2022Q1 | us-gaap |
Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
|
300000 | shares |
CY2022Q2 | us-gaap |
Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
|
80000 | shares |
CY2022Q2 | us-gaap |
Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
|
80000 | shares |
CY2022Q2 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
1.67 | |
ctxr |
Stock Options Vest Over Terms
StockOptionsVestOverTerms
|
P10Y | ||
CY2020Q4 | us-gaap |
Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
|
125000 | shares |
CY2020Q4 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
1.01 | |
ctxr |
Share Issued Price Per Share
ShareIssuedPricePerShare
|
1.03 | shares | |
ctxr |
Stockbased Compensation Expense Description
StockbasedCompensationExpenseDescription
|
Stock-based compensation expense for the three months ended June 30, 2022 and 2021 was $1,003,677 (including $33,333 for the NoveCite Stock Plan) and $373,570 (including $18,833 for the NoveCite Stock Plan), respectively. Stock-based compensation expense for the nine months ended June 30, 2022 and 2021 was $2,929,279 (including $99,999 for the NoveCite Stock Plan) and $993,114 (including $50,222 for the NoveCite Stock Plan), respectively. | ||
CY2022Q2 | ctxr |
Citius Stock Plans
CitiusStockPlans
|
6261023 | usd |
ctxr |
Weighted Average Period Term
WeightedAveragePeriodTerm
|
P2Y1M6D | ||
CY2020Q4 | us-gaap |
Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
|
2000000 | shares |
ctxr |
Common Shares Outstanding
CommonSharesOutstanding
|
2000000 | shares | |
ctxr |
Stock Option Plans Description
StockOptionPlansDescription
|
NoveCite has options outstanding to purchase 2,000,000 common shares at a weighted average exercise price of $0.24 per share, of which 376,665 are exercisable. All of these options vest over 36 months and have a term of 10 years. The weighted average remaining contractual term of options outstanding under the NoveCite Stock Plan is 8.7 years. At June 30, 2022, unrecognized total compensation cost related to unvested awards under the NoveCite Stock Plan of $216,444 is expected to be recognized over a weighted average period of 1.7 years. | ||
CY2022Q2 | ctxr |
Number Of Warrants Issued
NumberOfWarrantsIssued
|
40014418 | shares |
CY2021Q2 | us-gaap |
Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
|
P3Y | |
CY2021Q2 | us-gaap |
Dividends Common Stock Stock
DividendsCommonStockStock
|
1294498 | usd |
CY2021Q2 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.42 | |
CY2021Q2 | us-gaap |
Dividends Common Stock Paidinkind
DividendsCommonStockPaidinkind
|
1450876 | usd |
us-gaap |
Dividends Common Stock Paidinkind
DividendsCommonStockPaidinkind
|
1450876 | usd | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecrease
|
9400171 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
|
3885000 | shares | |
ctxr |
Warrants
Warrants
|
40014418 | shares | |
ctxr |
Common Stock Reserved
CommonStockReserved
|
53299589 | shares | |
ctxr |
Schedule Lease Expense
ScheduleLeaseExpense
|
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1.5pt solid">Lease cost</td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Nine Months<br/> Ended<br/> June 30,<br/> 2022</td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Nine Months<br/> Ended<br/> June 30,<br/> 2021</td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Operating lease cost</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">179,116</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">179,118</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Variable lease cost</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">772</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">194</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Total lease cost</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">179,888</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">179,312</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Other information</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Weighted-average remaining lease term - operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 10pt">3.3 Years</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-size: 10pt">4.3 Years</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted-average discount rate - operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.0</td><td style="text-align: left">%</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> | ||
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
179116 | usd | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
179118 | usd | |
us-gaap |
Variable Lease Cost
VariableLeaseCost
|
772 | usd | |
us-gaap |
Variable Lease Cost
VariableLeaseCost
|
194 | usd | |
us-gaap |
Lease Cost
LeaseCost
|
179888 | usd | |
us-gaap |
Lease Cost
LeaseCost
|
179312 | usd | |
CY2022Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y3M18D | |
CY2021Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P4Y3M18D | |
CY2022Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.08 | pure |
CY2021Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.08 | pure |
CY2022Q2 | ctxr |
Operating Lease Future Minimum Payments Due Current
OperatingLeaseFutureMinimumPaymentsDueCurrent
|
60737 | usd |
CY2022Q2 | ctxr |
Operating Lease Future Minimum Payments Due In Two Years
OperatingLeaseFutureMinimumPaymentsDueInTwoYears
|
244165 | usd |
CY2022Q2 | ctxr |
Operating Lease Future Minimum Payments Due In Three Years
OperatingLeaseFutureMinimumPaymentsDueInThreeYears
|
249024 | usd |
CY2022Q2 | ctxr |
Operating Lease Future Minimum Payments Due In Four Years
OperatingLeaseFutureMinimumPaymentsDueInFourYears
|
253883 | usd |
CY2022Q2 | ctxr |
Operating Lease Future Minimum Payments Due In Five Years
OperatingLeaseFutureMinimumPaymentsDueInFiveYears
|
21460 | usd |
CY2022Q2 | ctxr |
Operating Lease Future Minimum Payments Due
OperatingLeaseFutureMinimumPaymentsDue
|
829269 | usd |
CY2022Q2 | ctxr |
Less Interest
LessInterest
|
-104484 | usd |
CY2022Q2 | ctxr |
Present Value Of Lease Liabilities
PresentValueOfLeaseLiabilities
|
724785 | usd |
ctxr |
Schedule Operating Leases Assets And Liabilities
ScheduleOperatingLeasesAssetsAndLiabilities
|
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1.5pt solid">Leases</td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Classification</td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30,<br/> 2022</td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">September 30,<br/> 2021</td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Assets</td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 1.5pt">Lease asset</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 11%; text-align: center; padding-bottom: 1.5pt">Operating</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">691,593</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">822,828</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Total lease assets</td><td style="padding-bottom: 4pt"> </td> <td style="text-align: center; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">691,593</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">822,828</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Current</td><td> </td> <td style="text-align: center">Operating</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">191,902</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">177,237</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Non-current</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: center; padding-bottom: 1.5pt">Operating</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">532,883</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">678,234</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Total lease liabilities</td><td style="padding-bottom: 4pt"> </td> <td style="text-align: center; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">724,785</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">855,471</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> | ||
CY2022Q2 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
691593 | usd |
CY2021Q3 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
822828 | usd |
CY2022Q2 | ctxr |
Operating Lease Right Of Use Asset Total
OperatingLeaseRightOfUseAssetTotal
|
691593 | usd |
CY2021Q3 | ctxr |
Operating Lease Right Of Use Asset Total
OperatingLeaseRightOfUseAssetTotal
|
822828 | usd |
CY2022Q2 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
191902 | usd |
CY2021Q3 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
177237 | usd |
CY2022Q2 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
532883 | usd |
CY2021Q3 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
678234 | usd |
CY2022Q2 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
724785 | usd |
CY2021Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
855471 | usd |
us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
47881 | usd | |
us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
57779 | usd | |
CY2022Q2 | us-gaap |
Other Income
OtherIncome
|
usd | |
us-gaap |
Other Income
OtherIncome
|
usd | ||
CY2022Q2 | us-gaap |
Interest Expense
InterestExpense
|
usd | |
us-gaap |
Interest Expense
InterestExpense
|
usd | ||
CY2022Q2 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
usd | |
us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
usd | ||
ctxr |
Increase Decrease In Other Deposit
IncreaseDecreaseInOtherDeposit
|
usd | ||
us-gaap |
Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
|
usd | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
usd | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
usd | ||
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
usd | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
usd | ||
us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
usd | ||
us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
usd | ||
us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
usd | ||
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
usd | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
usd | ||
ctxr |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriod
|
shares | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
|||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
shares | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--09-30 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001506251 |