Citius Oncology (CTOR) Registration filing summary

Company overview and business model

• Biopharmaceutical company focused on developing and commercializing targeted oncology therapies, with lead product LYMPHIR approved by the FDA in August 2024 for CTCL, a rare non-Hodgkin lymphoma.

• Business model centers on commercializing LYMPHIR in the U.S. and partnering for ex-U.S. markets, leveraging a small, targeted sales force and third-party commercial partners.

• Company is a majority-owned subsidiary of Citius Pharma, which provides management and scientific services under a shared services agreement.

• No current revenue; all funding to date from Citius Pharma and recent capital raises.

Financial performance and metrics

• No revenue generated to date; net loss of $21.1 million for the year ended September 30, 2024, and $14.4 million for the six months ended March 31, 2025.

• Accumulated deficit of $53.7 million as of March 31, 2025; cash and cash equivalents of $112 and negative working capital of $31.7 million.

• Outstanding milestone and purchase commitments total over $44 million, including $22.5 million due to Dr. Reddy's and $9.8 million to Eisai by December 2025.

• Stock-based compensation expense was $7.5 million in FY2024 and $3.9 million for the six months ended March 31, 2025.

Use of proceeds and capital allocation

• Estimated net proceeds of $13.65 million from the offering, primarily for commercialization of LYMPHIR, milestone and royalty payments, working capital, and general corporate purposes.

• If gross proceeds equal or exceed $10 million, full repayment of $3.8 million promissory note to Citius Pharma is required.

• Management retains broad discretion over allocation of proceeds; funds will be invested in short-term, interest-bearing instruments pending use.