Citius Pharmaceuticals (CTXR) Q3 2024 Earnings Report

Citius Pharmaceuticals reported a Q3 2024 quarter with no revenue and a material net loss as it continued to invest heavily in research and development and general and administrative activities. The company posted a net loss of $10.5736 million and an EBITDA of −$10.5813 million for the quarter ended 2024-06-30, driven by R&D expense of $2.7639 million and SG&A of $7.8703 million. Operating cash flow was negative at −$8.3674 million, contributing to a negative free cash flow of the same amount.

Financially, CTXR ended the period with substantial liquidity: cash and cash equivalents of $17.9119 million and a net cash position of −$17.5912 million based on reported debt levels, aided by financing activities that added $13.7189 million in the quarter. The balance sheet shows meaningful intangible assets ($59.4 million) and goodwill ($9.35 million), with total assets of ~$97.1 million and total stockholders’ equity of ~$85.7 million, indicating a strong balance-sheet cushion relative to reported liabilities (~$10.8 million). The current ratio stands high at ~6.75, underscoring liquidity runway despite a lack of near-term revenue.

Management commentary is not included in the provided transcript data, and no earnings-call quotes are available. Consequently, the analysis relies on the 10-Q disclosures and the company’s long-term pipeline context. In the near term, CTXR’s investment thesis hinges on advancing its five-proprietary product candidates (including MinoLok, MinoWrap, HaloLido, NoveCite, and IONTAK) toward clinical milestones and potential strategic partnerships or licensing deals that could unlock value. Given the lack of revenue in QQ3 2024 and continued R&D emphasis, the stock remains a high-risk, high-variance biotech investment with meaningful optionality tied to clinical and regulatory milestones.