Citius Oncology Inc (Nasdaq:CTOR), a majority-owned subsidiary of Citius Pharmaceuticals Inc (Nasdaq: CTXR), announced on Wednesday the pricing of its 'reasonable best-efforts' public offering of 6,818,182 shares of common stock of the company and warrants to purchase shares of common stock at a public offering price of USD1.32 per share.

The warrants will have an exercise price of USD1.32 per share, will be immediately exercisable upon issuance, and will expire five years from the date of issuance. Gross proceeds from the offering, before deducting placement agent fees and other estimated offering expenses, are expected to be approximately USD9.0m.

Maxim Group LLC is acting as sole placement agent in connection with the offering.

Citius says that it intends to use the net proceeds from the offering primarily to support the commercialisation of LYMPHIR, including milestone, royalty, or other payments pursuant to existing license agreements, as well as for working capital and general corporate purposes. The offering is expected to close on or about 17 July 2025, subject to the satisfaction of customary closing conditions.

LYMPHIR was approved by the FDA in August 2024 for the treatment of adults with relapsed or refractory cutaneous T-cell lymphoma (CTCL) who had had at least one prior systemic therapy.