Citius Pharmaceuticals Secures $3.8M Through New Jersey NOL Program
Citius Pharmaceuticals secured $3.8 million in non-dilutive capital through New Jersey’s NOL Program, converting net operating losses and research credits into cash. This funding bolsters the company's balance sheet and financial flexibility to support the commercial launch of LYMPHIR and advancement of its late-stage pipeline programs including Mino-Lok and Halo-Lido.
1. Funding Secured Through NOL Program
Citius Pharmaceuticals obtained $3.8 million in non-dilutive capital via New Jersey’s Technology Business Tax Certificate Transfer Program. The program allows monetization of net operating losses and R&D tax credits at a minimum of 80% of their value, delivering immediate cash without issuing new equity.
2. Strengthened Financial Position
This injection of $3.8 million enhances the company’s balance sheet and provides additional financial flexibility. Management intends to deploy the funds toward operational expenses, commercial activities, and ongoing development efforts, preserving existing shareholder ownership.
3. Commercial Launch and Pipeline Advancement
Proceeds will support the commercial rollout of LYMPHIR, a targeted immunotherapy for relapsed or refractory Stage I–III CTCL, and advance late-stage pipeline assets. Key programs include Mino-Lok, which met primary and secondary endpoints in Phase 3, and Halo-Lido, with a completed Phase 2b trial, both engaging with FDA for next steps.