Citius Pharmaceuticals, Inc. (OTCMKTS:CTXR) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On November 7, 2017, Citius Pharmaceuticals, Inc. (the “Company”) entered into a release agreement (the “Release”) with Aegis Capital Corp. (“Aegis”). to the previously disclosed underwriting agreement dated August 3, 2017 between the Company and Aegis (the “Underwriting Agreement”), the Company granted Aegis a right of first refusal to underwrite all public and private equity and debt offerings for a period of twelve months following completion of the public offering (the “Right of First Refusal”). Under the Release, the Company agreed to pay Aegis $100,000 in cash and to issue an aggregate of 60,000 shares of restricted Company common stock to certain designees of Aegis in exchange for a full release of the Company from any and all obligations related to the Right of First Refusal.
The description of the Release set forth above does not purport to be complete and is qualified in its entirety by reference to the full text of the Release, a copy of which will be filed as an exhibit to the Company’s annual report on Form 10-K for the fiscal year ended September 30, 2017 and is incorporated herein by reference.
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.