Citius Pharmaceuticals announces 1-for-25 reverse stock split

Citius Pharmaceuticals (CTXR) announced that it will be executing a reverse stock split of its common stock at a ratio of 1-for-25. Pursuant to the laws of the State of Nevada and subject to prior approval by the company’s Board of Directors, Citius Pharma was not required to obtain shareholder approval to effectuate the Reverse Stock Split. The Reverse Stock Split will become effective at 5:00 pm Eastern Time on November 25. The company’s common stock will begin trading on the Nasdaq Capital Market on a split-adjusted basis beginning upon market open on November 26 under the company’s existing trading symbol “CTXR” with the new CUSIP number 17322U306. The Reverse Stock Split is intended to increase the per share trading price of Citius Pharma’s common stock to regain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on the Nasdaq Capital Market.