Good Morning Traders,
Citius Pharmaceuticals Inc (NASDAQ:CTXR) shares have been forming what could be an extremely important bullish basing pattern following a “puke” of weak-handed investors and traders in early August. This small-float stock has been climbing along the 50-day simple moving average. A break above this benchmark level could spark a potential major influx of new interest.
To help spur this shift, the company just announced that it has received official notification from MD Anderson Cancer Center that the European Patent Application for Mino-Lok with Enhanced Stability was published under serial number 3370794. According to the release, “This patent which already received a Notice of Allowance from the US Patent and Trademark Office in July of 2018, and which patent was issued by the USPTO earlier this month, will provide and strengthen intellectual property protection for Mino-Lok through November of 2036.”
Citius Pharmaceuticals Inc (NASDAQ:CTXR) frames itself as a specialty pharmaceutical company that develops and commercializes critical care products. It primarily focuses on developing anti-infective, cancer care, and prescription products.
The company develops Mino-Lok product, which has completed Phase IIb clinical trials for the treatment and salvage of infected central venous catheters in patients with catheter related bloodstream infections; and Hydro-Lido product, a topical formulation of hydrocortisone and lidocaine that is intended for the treatment of hemorrhoids.
It has a collaboration and license agreement with Alpex Pharma S.A. to develop and commercialize orally disintegrating tablet formulations of pharmaceutical products in United States, Canada, and Mexico.
Citius Pharmaceuticals, Inc. was founded in 2007 and is headquartered in Cranford, New Jersey.
According to company materials, “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 that use 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. Citius develops products that have intellectual property protection and competitive advantages to existing therapeutic approaches.”
As noted above, the company just announced that it has received official notification from MD Anderson Cancer Center that the European Patent Application for Mino-Lok with Enhanced Stability was published under serial number 3370794.
The chart shows 9% added to share values of the stock over the past month of action. Furthermore, the listing has seen a growing influx of trading interest, with the stock’s recent average trading volume running 11% over what the stock has registered over the longer term.
This should not be overlooked given the stock’s tiny trading float of 4.5M shares. It’s something the veterans know to key on: ramping trading activity can overwhelm available supply in a stock with this type of small float, leading to an upward burst in prices.
“The protection of company’s intellectual property is vital and enhanced post-reconstitution stability of the Mino-Lok is a very important innovation,” said Mr. Myron Holubiak, President and CEO of Citius Pharmaceuticals. “This will enable standard pharmacy process to be employed in the delivery of Mino-Lok to the patient and would allow for several days’ storage of ready-to-use Mino-Lok. This new European patent will provide us broader protection in the major markets of the world for our new formulation.”
Now commanding a market cap of $26.08M, CTXR has a significant war chest ($2.8M) of cash on the books, which compares with about $2.2M in total current liabilities. The company is pre-revenue at this point, but this is an extremely exciting story, and we look forward to a follow-up chapter as events transpire.
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