Citius Pharmaceuticals Inc【CTXR】株式ニュース

Some information from today's conference: CTXR and CTOR information: TwongStocks recap:

https://www.reddit.com/r/CTXR/comments/1gfn9qe/thinkequity_conference_recap_with_audio_link/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button

If you have heard previous conferences, you've basically heard this one. Essentially followed the same script. Did not cover compliance or cash runway.

He did give a bit of info regarding the distribution of CTOR shares. I believe this is the first time he has verbalized the 6 month lockup. While that was stated in the SEC filings, this is the first I recall Leonard ever mentioning the lockup in a conference.

Our plan is to ultimately distribute the shares or dividend the shares to the Citius Pharma shareholders. We couldn't do that right away because we had a lockup on the shares for six months. So we got to wait until that lockup is over and then we'll start making the moves on doing the distribution.

He reiterated that during the summary at the end of the conference

And as I said before, our plan with Citius Oncology is to dividend and distribute those shares once that lockup period is over, which will provide a benefit in participation for the Citius shareholders.

There was a Q&A at the end. Unfortunately, the questions were only from the audience participants and couldn't be heard.

His first answer:

Yes, there is a specific date. It's in the third week.

Since I couldn't hear the question, no idea what this is referring to. My guess is that it is referencing the FDA meeting in November.

Second question was about the distribution of CTOR shares, based on his answer:

Do we have a what? No, not yet. Because we're waiting until the six month period is up, which will be in February and somewhere after that, we want to see what market conditions look like. We want to be careful how we do this. So it doesn't cause any negative pressure on Citius Pharma in the process r the other company as well. So we have to distribute this very, very carefully. It's got to look at market conditions when we're doing it.

I could tell you when I was at Cooper Labs, we did this. We spun off, it became CooperVision from CooperLabs. And we actually waited a whole year before we distributed those shares. And it was successful. And the reason it was successful for both companies is, and why it'll be successful for us, is because CooperVision was growing like a rocket at that time. And we anticipate we're gonna have good growth here. We think that within the first year, we'll have positive earnings for, uh, for this business. So that's the best time to, to really do a dividend distribution of shares.

Couple things about the potential distro.

They won't distribute until sometime after the lockup is over. Lockup expires in Feb, 6 months after the spinoff closed.

The distribution will be done very carefully and based on market conditions. Last thing they want to do is tank the stock.

They've mentioned that they'll be able to report CTOR's financials and revenues on CTXR's consolidated balance sheet, since CTXR owns 92% of CTOR. However, if they do a full distribution before the end of Q1 2025, they won't be able to do that. Once CTXR ceases to own more than 50% of CTOR, CTXR won't be able to report CTOR's financials on their consolidated financials. So it will be interesting to see the timing and how they plan to dividend those shares. If Lymphir is being launched in January and all of the shares are distributed in February, CTXR will never get the "benefit" of being able to report CTOR revenues.

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