Citius Pharmaceuticals engages financial advisor for oncology subsidiary spinoff

Citius Pharmaceuticals announced that Maxim Group will serve as financial advisor to its wholly-owned subsidiary, Citius Acquisition, in connection with the intended formation of a separate publicly-traded entity to commercialize and grow Citius’ oncology asset, I/ONTAK. The FDA is currently reviewing a biologics license application for I/ONTAK and has set a targeted decision date of July 28, 2023. Any transactions would be subject to the satisfaction of customary conditions, including final approval from the Citius Board of Directors, regulatory approvals, and SEC filings. Upon closing of the transactions, Citius would continue to trade on the Nasdaq exchange under its current ticker CTXR.