Citius Oncology (CTOR) filed a registration statement Monday for the potential sale of up to $15 million of common shares, and accompanying warrants to buy up to $15 million common shares.
The number of securities and per-share prices were not specified in the filing.
The company said it plans to use the net proceeds to commercialize Lymphir, including milestone, royalty or other payments it has to make under current license deals, and for working capital and general corporate purposes.
The company added that if the offering generates at least $10 million of gross proceeds, it must fully repay the roughly $3.8 million principal due under the August 2024 promissory note issued to Citius Pharmaceuticals (CTXR).
Shares of Citius Oncology fell more than 14% and Citius Pharmaceuticals rose over 4% in recent trading.
Price: 2.53, Change: -0.29, Percent Change: -10.28
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