Plus   Neg

Stock Alert: Citius Pharmaceuticals Soars 50%

Shares of Citius Pharmaceuticals, Inc. (CTXR) are adding nearly 50% on Friday morning after the U.S. FDA told the company that it could apply for fast track designation for its Induced Mesenchymal Stem Cells to treat patients with COVID-19.

CTXR is currently trading at $1.61, up $0.53 or 49.07%, on the Nasdaq.

Citius Pharma announced it received a written response from the FDA in regards to its pre-investigational new drug application for its induced mesenchymal stem cells (iMSCs) to treat and reduce the severity of acute respiratory distress syndrome (ARDS) in patients with COVID-19.

The FDA acknowledged that the company could apply for fast track designation and also provided Citius with the chemistry, manufacturing, and control requirements for the proposed trials.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Department of Health and Human Services or HHS said it has secured most of the supply of COVID-19 drug remdesivir through September. The deal would allow American hospitals to purchase the antiviral drug in allocated amounts amid the spike in confirmed cases each day. HHS Secretary Alex Azar said, "President Trump has struck an amazing deal to ensure Americans have access to the first..." Novartis AG (NVS) agreed to pay $678 million to settle U.S. government charges it paid illegal kickbacks to doctors to induce them to prescribe its cardiovascular and diabetes drugs, the U.S. Department of Justice said in a statement. PG&E Corp. (PCG) said Wednesday that it has emerged from Chapter 11 bankruptcy protection, after implementing its financial restructuring plan that was previously approved by the U.S. Bankruptcy Court and state regulators.
Follow RTT