Citius Pharmaceuticals Inc. (CTXR) Stock Surges 13% in a Month: What Next?

Citius Pharmaceuticals Inc. (NASDAQ:CTXR) is up 13% in a month. The company has signed a definitive agreement with Dr. Reddy’s Laboratory Ltd (NYSE:RDY) subsidiary Dr. Reddy’s Laboratories SA to acquire an exclusive license for E7777 (denileukin diftitox).

E7777 is late-stage cancer immunotherapy for CTCL treatment. It is an engineered IL-W diphtheria toxin fusion antigen that is an enhanced ONTAK formulation that previously received FDA approval to treat recurrent or persistent CTCL. Already the last patient has been enrolled in the pivotal E7777 trial with a BLA for E7777 expected to be filed by the end of the year.

Recently the company announced its fiscal Q3 2021 financial results and offered a corporate update. During the quarter, the company received a third positive recommendation for the IDMC to advance Mino-Lok third phase clinical superiority study without any modifications since no safety concerns were identified. In addition, the company also received FDA guidance regarding the novel halo-Lido patient-reported outcome tool. So in the coming weeks, CTXR is worth watching.

Market Reaction:

On Tuesday, CTXR stock gained 1% at $2.12 with more than 6.34 million shares, compared to its average volume of 8.40 million shares. The stock has moved within a range of $2.0701 – 2.2775 after opening the trade at $2.15.