Citius Pharmaceuticals, Inc. (OTCMKTS:CTXR) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement.

On June 23, 2017, Citius Pharmaceuticals, Inc. (the
Company) executed a convertible future
advance promissory note in favor of Leonard Mazur
(Lender) in the principal amount of up
to $1,000,000 (the Bridge Note). The
Company may draw on the Bridge Note as needed up to the
$1,000,000 principal amount, of which $590,000 is outstanding
under the Bridge Note as of June 27, 2017. The Bridge Note bears
interest at the Prime Rate as published in the Wall Street
Journal on the last day of each relevant month plus 1%, and
matures on the earlier of December 31, 2017 or the full
conversion of the Bridge Note. The Bridge Note is convertible, in
whole or in part, into shares of the Companys common stock at a
conversion price equal to 75% of the price per share paid by
investors in the Companys contemplated securities offering to a
Form S-1 registration statement (File No. 333-217956) filed with
the U.S. Securities and Exchange Commission. In addition, in the
event the Company enters into a debt financing with a third party
on terms better than those of the Bridge Note while such Bridge
Note remains outstanding, the Company will notify Lender of such
terms and Lender may elect, in Lenders sole discretion, to amend
the Bridge Note to incorporate such terms. The Bridge Note is
governed by the same form of agreement governing the convertible
future advance promissory note executed in favor of Leonard Mazur
on May 10, 2017 for $1,500,000 and filed as Exhibit 10.1 to the
Companys Form 10-Q for the fiscal quarter ended March 31, 2017
(the Form of Bridge Note).

The Lender, Leonard Mazur, is our Executive Chairman and
Secretary and a director of the Company.

The foregoing description is a summary only, does not purport to
set forth the complete terms of the Bridge Note, and is qualified
in its entirety by reference to the Form of Bridge Note filed as
Exhibit 10.1 to the Companys Form 10-Q for the fiscal quarter
ended March 31, 2017 which is incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

About Citius Pharmaceuticals, Inc. (OTCMKTS:CTXR)

Citius Pharmaceuticals, Inc., formerly Trail One, Inc., is a pharmaceutical company engaged in developing and commercializing therapeutic products. The Company focuses on developing formulations to manage the delivery and compliance of approved drugs. The Company offers Suprenza, an orally disintegrating tablet and an obesity drug that can be administered with water or dissolved on tongue. The Company also focuses on development of its product candidate, Hydrocortisone-Lidocaine Cream, which is in Phase II study. Its Hydrocortisone-Lidocaine Cream is used to provide anti-inflammatory and anesthetic relief to persons suffering from grade I and II hemorrhoids. Citius Pharmaceuticals, LLC is its subsidiary. The Company has not generated any revenues.