Citius Pharma (CTXR) Brings More Experts on Board
CTXR looking ready to hit the gas
Good day everyone,
We are continuing our coverage of Citius Pharmaceuticals, Inc. (NASDAQ: CTXR), a specialty pharmaceutical company that develops and commercializes critical care products.
Current price $1.26 per share
Outstanding shares (est.) 45.19M
Float (est.) 24.53M
Insider ownership 39.08%
Potential near term to midterm catalysts for CTXR shares:
Publishing of date from the Mino-Lok phase III clinical trial
More shares being purchased by institutions
Any further developments on the NoveCite stem cell treatment for covid 19
When we last reported to you on CTXR, in early July, we said:
“The case for CTXR shares is simple. Their market cap of $55 million seems too low for a company with potential FDA approval just around the corner for a blockbuster product (Mino-Lok) with billion-dollar market estimates, and a prospective Covid 19 treatment on the horizon.” That statement is still true today.
CTXR is building momentum in the development of its products.
Myron S. Czuczman, M.D., has joined the company as Chief Medical Officer (CMO) and Executive Vice President. He strengthens the position for Citius as a developer of adjunctive cancer therapies (Mino-Lok and Mino-Wrap) and the NoveCite induced allogeneic mesenchymal stem cell program. Dr. Czuczman has impressive credential and we have linked a press release describing them below: https://finance.yahoo.com/news/citius-pharmaceuticals-brings-myron-czuczman-124700331.html
In addition to the hire of Dr. Czuczman, the company announced the formation of the Citius ARDS (Acute Respiratory Distress Syndrome) Scientific Advisory Board to further the development of NoveCite. The advisory board consists of three doctors with extensive expertise in pulmonary disorders and stem cell treatments. Again, we have linked a press release that details their qualifications. https://finance.yahoo.com/news/citius-pharmaceuticals-forms-scientific-advisory-143000331.html
We wondered why CTXR is making these moves now. Why after a couple years of Mino-Lok development and just a couple months into their license agreement with Novellus for NoveCite?
We don’t know, we can just speculate. Mino-Lok is in its final stages of development, nearing the end of its phase III clinical trial. Dr. Czuczman can provide helpful medical guidance, for the company, regarding FDA clearance and product marketing.
CTXR has a six-month exclusive license with Novellus for the development of NoveCite. The creation of the advisory panel could help to accelerate that process. Remember, on June 26, the FDA acknowledged that the company could apply for fast track designation and provided Citius with the chemistry, manufacturing, and control (CMC) requirements for the proposed trials. The Company plans to progress with an Investigational New Drug (IND) application under the Coronavirus Treatment Acceleration Program (CTAP).
2 Wall Street analysts have issued ratings and price targets for Citius Pharmaceuticals in the last 12 months. Their average twelve-month price target is $5.50, suggesting that the stock has a possible upside of 334.78%. The high price target for CTXR is $7.00 and the low-price target for CTXR is $4.00. There are currently 2 buy ratings for the stock, resulting in a consensus rating of “Buy.”
CTXR has a tiny share structure with high insider and institutional ownership. These are traits that can accelerate a stock gain trend.
As the chart linked below indicates, CTXR shares have been above their 50 DMA and 200 DMA of $1.13 and $.84 respectively for a few weeks. The company shares are leading their SMA 50 and SMA 200 by 12.4% and 50.6% respectively indicating the shares may be trending. These data could indicate a bullish outlook for CTXR shares.
https://stockcharts.com/h-sc/ui?s=CTXR
We will be back with more on CTXR soon,
The Traders News Group
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