The company exhibits a lack of commercial scale with sporadic revenue of $1.7M in 2026Q2 and a concerning surge in SG&A expenses to $26.4M, which significantly outpaces clinical progress.
| Metric | TTM | Sep'25 | Sep'24 | Sep'23 | Sep'22 | Sep'21 | Sep'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 |
|---|
| Sales/Revenue | 5.61M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | 3498.76% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 3.52M | 214.25K | 209.61K | 194.32K | 179.68K | 164.87K | 152.36K | 893 | 1.75K | 2.63K | 1.34K | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | 2.1M | -214.25K | -209.61K | -194.32K | -179.68K | -164.87K | -152.36K | -893 | -1.75K | -2.63K | -1.34K | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | 37.36% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | -2.21% | -7.87% | -8.15% | -8.98% | -8.21% | -16962.04% | 49.06% | 33.4% | -95.98% | - | - | - | - | - | - |
| Operating Expenses | 60.54M | 38.31M | 42M | 36.73M | 33.32M | 23.53M | 17.71M | 15.6M | 13.79M | 9.99M | 7.45M | 3.23M | 1.14M | 28.12K | 19.62K | 25.64K |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 40.46M | 18.53M | 18.25M | 21.91M | 15.66M | 11.29M | 8.9M | 7M | 7.23M | 7.05M | 4.52M | 1.43M | 715.02K | 28.12K | 19.62K | 25.64K |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Research & Development | 6.5M | 9.16M | 11.91M | 14.82M | 17.66M | 12.24M | 8.81M | 8.6M | 6.56M | 2.94M | 2.93M | 1.8M | 437.97K | 492.14K | 706 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 2.96M | 10.62M | 11.84M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -58.44M | -38.53M | -42M | -36.73M | -33.32M | -23.53M | -17.71M | -15.6M | -13.79M | -9.99M | -7.45M | -3.23M | -1.15M | -28.12K | -19.62K | -25.64K |
| Operating Margin % | -1041.44% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 8.26% | -14.33% | -10.25% | -41.58% | -32.87% | -13.54% | -13.12% | -38.08% | -34.06% | -130.63% | -180.13% | -4000.56% | -43.33% | 23.48% | - |
| EBITDA | -56M | -38.31M | -41.79M | -36.54M | -33.14M | -23.37M | -17.56M | -15.6M | -13.79M | -9.98M | -7.45M | -3.23M | 0 | 1.15M | -18.6K | -24.93K |
| EBITDA Margin % | -997.99% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | -30.94% | 8.32% | -14.36% | -10.26% | -41.81% | -33.08% | -12.57% | -13.13% | -38.1% | -34.05% | -130.81% | - | -100% | 6305.9% | 25.39% | - |
| D&A (Non-Cash Add-back) | 2.44M | 214.25K | 209.61K | 194.32K | 179.68K | 164.87K | 152.36K | 893 | 1.75K | 2.63K | 1.34K | 3.07K | 1.15M | 1.18M | 1.02K | 704 |
| EBIT | -58.37M | -38.42M | -38.85M | -31.97M | -33.06M | -23.04M | -17.53M | -15.55M | -12.52M | -9.99M | -7.45M | -2.89M | -1.15M | -1.18M | 0 | -25.64K |
| Net Interest Income | -283.61K | -157.7K | 758K | 1.18M | 0 | 250.99K | 52.39K | 36.22K | 0 | -849.98K | -8.19K | -4.43K | 0 | 0 | 0 | 0 |
| Interest Income | 172.74K | 110.08K | 758K | 1.18M | 251.4K | 261.82K | 68.07K | 52.66K | 0 | 806 | 806 | 3.07K | 0 | 0 | 0 | 0 |
| Interest Expense | 456.35K | 267.78K | 0 | 0 | 251.4K | 10.84K | 15.67K | 16.44K | 15.84K | 850.79K | 8.99K | 7.5K | 0 | 3.25K | 2.39K | 0 |
| Other Income/Expense | 3.55M | -157.7K | 3.15M | 4.77M | 251.4K | 477.46K | 162.6K | 36.22K | 1.25M | -398.64K | -846.41K | 327.66K | 171.82K | 0 | -2.39K | -704 |
| Pretax Income | -54.89M | -38.68M | -38.85M | -31.97M | -33.06M | -23.05M | -17.55M | -15.56M | -12.54M | -10.38M | -8.3M | -2.9M | -1.27M | -31.37K | -22.01K | -26.34K |
| Pretax Margin % | -978.18% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Income Tax | 561.51K | 1.06M | 576K | 576K | 576K | 0 | 0 | 16.44K | 0 | 0 | 8.99K | 4.43K | -119.14K | -1.18M | 0 | 0 |
| Effective Tax Rate % | -1.02% | -2.73% | -1.48% | -1.8% | -1.74% | 0% | 0% | -0.11% | 0% | 0% | -0.11% | -0.15% | 9.37% | 3769.75% | 0% | 0% |
| Net Income | -46.2M | -37.43M | -39.14M | -32.54M | -33.64M | -23.13M | -17.55M | -15.58M | -12.54M | -10.38M | -8.3M | -2.9M | -1.27M | -31.37K | -22.01K | -26.34K |
| Net Margin % | -823.34% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | -9.88% | 4.36% | -20.27% | 3.26% | -45.47% | -31.78% | -12.64% | -24.26% | -20.72% | -25.18% | -185.84% | -128.14% | -3955.41% | -42.55% | 16.46% | - |
| Net Income (Continuing) | -55.45M | -39.74M | -39.43M | -32.54M | -33.64M | -23.05M | -17.55M | -15.56M | -12.54M | -10.38M | -8.3M | -2.9M | -1.27M | -1.29M | -22.01K | -26.34K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 7.54M | 9.98M | 4.02M | 600.38K | 600.38K | 600.38K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.06 | -3.38 | -5.97 | -5.57 | -5.76 | -5.64 | -0.45 | -0.77 | -1.17 | -1.89 | -2.29 | -1.37 | -0.95 | -0.04 | -0.03 | -0.04 |
| EPS Growth % | 55.99% | 43.38% | -7.18% | 3.3% | -2.13% | -1153.33% | 41.56% | 34.19% | 38.1% | 17.47% | -67.15% | -44.21% | -2172.73% | -42.66% | 16.52% | - |
| EPS (Basic) | - | -3.38 | -5.97 | -5.57 | -5.76 | -5.64 | -0.45 | -0.77 | -1.17 | -1.89 | -2.29 | -1.37 | -0.95 | -0.04 | -0.03 | -0.04 |
| Diluted Shares Outstanding | 22.38M | 11.07M | 11.59M | 10.09M | 9.74M | 7.24M | 2.61M | 1.34M | 715.46K | 365.5K | 241.55K | 141.49K | 89.35K | 50K | 50K | 50K |
| Basic Shares Outstanding | 22.38M | 11.07M | 11.59M | 9.74M | 9.74M | 7.24M | 2.61M | 1.34M | 715.46K | 365.5K | 241.55K | 141.49K | 89.35K | 50K | 50K | 50K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Regulatory and liquidity insolvency
As indicated by the company's historical financial statements, Citius Pharmaceuticals remains a pre-revenue developmental entity, with sporadic top-line figures like the $1.7M reported in 2026Q2 failing to establish a consistent growth trend, underscoring the firm's ongoing struggle to transition from clinical research to sustainable commercial operations.
The intermittent nature of revenue recognition suggests that the company has yet to secure a reliable commercial footprint for its therapeutic candidates. Investors should monitor whether future revenue streams emerge from product launches or if the current volatility persists due to the absence of a stable market-ready portfolio.
Based on reported figures, the company's SG&A expenses surged to $26.4M in 2026Q2, significantly outpacing historical quarterly averages and highlighting a concerning disconnect between administrative overhead and the firm's developmental-stage status, which warrants further investigation into the underlying drivers of this sudden and substantial cost escalation.
The sharp increase in SG&A relative to R&D spending suggests that the company may be front-loading commercialization costs or facing unexpected administrative burdens. This shift in cost structure appears to place additional pressure on an already strained liquidity position, potentially accelerating the need for external capital.
According to recent SEC filings, the company consistently utilized stock-based compensation, reaching $4.3M in 2026Q1, which serves to preserve cash while simultaneously diluting existing shareholders, a common but aggressive practice in biotech firms that complicates the assessment of true economic losses and long-term shareholder value creation.
The reliance on equity-based incentives suggests that management is attempting to align internal interests with survival, yet this practice obscures the true cost of talent acquisition. Analysts should adjust for these non-cash charges to better understand the underlying cash burn rate and the true extent of shareholder dilution.
As reported in financial statements, the company's operating income reached a deficit of $32.2M in 2026Q2, demonstrating a lack of operating leverage as expenses continue to scale significantly faster than any potential gross profit, which suggests that the firm is currently far from achieving a self-sustaining business model.
The widening gap between operating expenses and revenue indicates that the company's current cost structure is not optimized for its current stage of development. Without a clear path to revenue generation, the firm appears to be operating under a model that requires continuous external funding to maintain its clinical pipeline.
Quick answers to the most common questions about buying CTXR stock.
For fiscal year 2025, Citius Pharmaceuticals, Inc. (CTXR) reported total revenue of $0.0M.
Citius Pharmaceuticals, Inc. (CTXR) reported a net loss of $37.4M for the fiscal year ending 2025.