Citius Pharmaceuticals, Inc. Receives $2.4 Million Boost from NJ Economic Development Initiative

CRANFORD, N.J., March 7, 2024 /PRNewswire/ -- In a significant financial development, Citius Pharmaceuticals, Inc. (herein referred to as 'Citius' or the 'Company'), which trades under the ticker symbol CTXR on the Nasdaq, has reported a considerable boost to its capital. The late-stage biopharmaceutical firm, renowned for focusing on the creation and eventual distribution of critical care products that lead their class, revealed it has obtained a substantial sum through an economic incentive program facilitated by the state of New Jersey.

Financing Critical Care Innovation

The $2.4 million infusion from the New Jersey Economic Development Program marks a milestone for Citius, enabling the company to propel its efforts in advancing drug development and to secure its position as a forerunner in the pharmaceutical sector. This financial endorsement demonstrates the state's commitment to supporting life sciences firms that exhibit strong potential for growth and innovation within the healthcare industry.

Strategic Advancement Amidst Growth

Citius is strategically positioned to leverage the acquired funds to enhance its pipeline of breakthrough treatments. The investment contributes significantly to the firm's ongoing endeavors in drug research and trials, ultimately aiming to bring innovative care options to market. With a transparent commitment to addressing unmet medical needs, the company remains focused on fostering developments that will have a lasting impact on patient care and the overall healthcare ecosystem.

Citius, investment, biopharmaceutical