Citius Pharmaceuticals, Inc. (OTCQB: CTXR) is engaged is specialty pharmaceuticals and therapeutics for critical care and cancer care patients. Shares of the specialty pharmaceutical company soared 26.28% on Thursday, March 2, 2017. Over the past three months, Citius Pharmaceuticals, Inc. has seen average daily volume of 73,264 shares. However, volume of 137,330 shares or dollar volume of $90,637, has already exchanged hands through afternoon trading Thursday.
Shares of Citius Pharmaceuticals, Inc. are rallying today, after the company released survey data showing medical experts are increasingly calling for catheter salvage capabilities. Currently, there is no product on the market for salvage, but Citius Pharmaceuticals, Inc.’s Mino-Lok aims to be the first product of its kind. Here is the full press release detailing of the survey data:
Citius Pharmaceuticals, Inc. Press Release:
CRANFORD, N.J., March 1, 2017 /PRNewswire/ — Citius Pharmaceuticals, Inc. (“Citius”) (OTC BB: CTXR), a specialty pharmaceutical company focused on adjunctive cancer care and critical care drug products, obtained top line data from a survey of 31 physicians clearly showing a need for catheter salvage in patients with indwelling central venous lines, especially when the catheter is a tunneled or an implanted port. There were 19 Infectious Disease experts and 12 Intensivists surveyed who all agreed that salvage would be preferable to catheter exchange fearing that catheter misplacements, blood clots, or vessel punctures can potentially occur during reinsertion. Most were also concerned that viable venous access may not be available. The survey was conducted by a third party in January of this year.
Mr. Myron Holubiak, President and CEO stated, “It is clear to us that catheter salvage is an important goal for our Mino-Lok™ development program. This survey indicates that there would be rapid and broad acceptance of our innovative treatment for salvaging central venous catheters in Central Line Associated Bloodstream Infections (CLABSIs) if we are able to show that Mino-Lok is effective and safe. We have designed our phase 3 study to assure that these important parameters are studied.”
There are currently no approved therapies to salvage infected CVCs.
About Citius Pharmaceuticals, Inc.
Citius is a specialty pharmaceutical company dedicated to the development and commercialization of critical care products with a focus on anti-infectives, cancer care and unique prescription products using innovative, patented or proprietary formulations of previously approved active pharmaceutical ingredients. We seek to achieve leading market positions by providing therapeutic products that address unmet medical needs. By using previously approved drugs with substantial safety and efficacy data, we seek to reduce the risks associated with pharmaceutical product development and regulatory requirements. We focus on developing products that have intellectual property protection and competitive advantages to existing therapeutic approaches. www.citiuspharma.com
Mino-Lok™ is under investigation and not approved for commercial use.
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are made based on our expectations and beliefs concerning future events impacting Citius. You can identify these statements by the fact that they use words such as “will,” “anticipate,” “estimate,” “expect,” “should,” and “may” and other words and terms of similar meaning or use of future dates. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of research and development activities; uncertainties relating to preclinical and clinical testing; the early stage of products under development; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our ability to identify, acquire, close and integrate product candidates and companies successfully and on a timely basis; our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.