Citius Pharmaceuticals, Inc. (OTCMKTS:CTXR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
Explanatory Note
On June 27, 2017, Citius Pharmaceuticals, Inc. (the
Company) filed a Current Report on Form
8-K dated June 23, 2017 (the Original
8-K) to report the entry into a convertible future
advance promissory note in favor of Leonard Mazur, the Executive
Chairman and Secretary and a director of the Company, in the
principal amount of up to $1,000,000 (the Bridge
Note). This Amendment No. 1 to the Original 8-K
(this Amendment) is being filed solely
for the purpose of amending the Original 8-K to correctthe amount
outstanding under the Bridge Note. The Original 8-K erroneously
stated that $590,000 is outstanding under the Bridge Note as of
June 27, 2017. The correct amount outstanding under the Bridge
Note is $410,000 as of June 27, 2017.
The other terms set forth in the description of the Bridge Note
included in the Original 8-K and the Form of Bridge Note filed as
Exhibit 10.1 to the Companys Form 10-Q for the fiscal quarter
ended March 31, 2017 are incorporated by reference herein.
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.
