Reported Friday, Citius Pharmaceuticals FY24 EPS $(5.97) Down From $(5.57) YoY; Cash $3.3M

Net loss was $39.4 million, or ($5.97) per share for the year ended September 30, 2024, compared to a net loss of $32.5 million, or ($5.57) per share for the year ended September 30, 2023, as adjusted for the reverse stock split. The increase in net loss reflects an increase in operating expense of $5.3 million offset by a decrease of $1.6 million in other income. Operating expense increased due to increases in stock-based compensation and general and administrative expenses, which were offset by decreased research and development expense.

As of September 30, 2024, the Company had $3.3 million in cash and cash equivalents.