Citius Pharmaceuticals Inc. (CTXR), a biopharmaceutical company, on Friday released its second quarter results from the fiscal year 2026 and provided updates on sales of its lead product LYMPHIR. Following the release, shares dropped to a 52-week low of $0.48 on Monday. LYMPHIR is a targeted immunotherapy developed by the company's subsidiary, Citius Oncology Inc. (CTOR), to treat relapsed/refractory Stage 1-3 cutaneous T-cell lymphoma (CTCL). The drug was approved by the FDA in 2024 and launched in December 2025. Q2 FY 2026: The company reported a net loss of $21.23 million or $0.95 per share, nearly doubled from the second quarter loss of $10.92 million or $1.27 per share in the previous year. The loss arose primarily from significant general and administrative (G&A) expenses of $26.39 million, due to a one-time contract research organization (CMO) contract cancellation charge of $19.7 million.
Net losses for the six-month period ending on March 31, 2026, were $8.05 million, a considerable rise from the $1.01 million from the six months ending March 31, 2025, with the increase accounted for by increased G&A expenses. Net product revenues of $1.7 million for the three months ended March 31, 2026, compared to no revenue in the three months ended March 31, 2025, and $5.6 million for the six months ended March 31, 2026, compared to no revenue in the six months ended March 31, 2025. The quarter over quarter decline reflects larger initial orders from specialty distributors at launch in the first quarter.
Gross profit was $1.3 million for the quarter and $4.5 million for the six months, at approximately 80% margins.
Stock-based compensation was $3.8 million for the quarter versus $2.7 million in the prior year, and $8.1 million for the six months versus $5.2 million in the prior year. Other income amounted to $3.85 million, while for the second fiscal quarter in 2025 the same was $13.41 million. For the six months ending March 31, 2026, other net income was $3.74 million, up from the $0.04 million for the six months ended March 31, 2025. The difference is attributed to a gain on the sale of New Jersey net operating losses. Cash and cash equivalents held by the company on March 31, 2026, totaled $4.6 million. The company expects the available capital to fund operations till November 2026. Business Updates: The company reported LYMPHIR sales of $5.6 million in the second quarter, with 83% of target accounts added. A shipment of LYMPHIR to Europe was sent to facilitate availability through named patient programs (NPPs). Additionally, the company is evaluating LYMPHIR in a Phase 1 trial for the treatment of gynecological cancers like ovarian and endometrial tumors. Another Phase 1 trial is assessing LYPHIR prior to CAR-T therapy in patients with high-risk relapsed or refractory diffuse large B-cell lymphoma (DLBCL), with positive safety topline results reported. The company is also seeking FDA alignment on Mino-Lok, an antibiotic lock solution for catheters, and Halo Lido, a topical preparation for hemorrhoids. CTXR closed Monday at $0.53, down 24.76%. In the overnight market, shares are trading at $0.55, up 5.10%.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.