Citius Pharmaceuticals (CTXR) once again broke to new highs yesterday of $5.20 and this morning has hit highs of $5.49 so far. This accounts for 77% gains from our alert price of $3.10 last Monday, October 30th. CTXR has now hit new highs for six straight days on strong volume.
CTXR is currently trading near highs and is nearing the 200 day moving average of $5.74. If CTXR could break through the 200 day moving average, it could set off an even larger rally for this low float Nasdaq, so make sure to keep this one on your radar. Below is the 6 month daily chart on CTXR.
Important reasons to research Citius (CTXR):
- Yesterday morning, CTXR released news that international data on Mino Lok™ was recently presented at the ID Week Conference and results showed a 95% effectiveness in salvaging infected catheters for Mino-Lok™. This is exciting news for the future of Citius (CTXR) and Mino-Lok™.
- Chairman Leonard Mazur recently added 432,400 shares to his position at an average price of $4.09 per share. We consider it a very bullish sign when the Chairman of a company invests $1.77M into his own stock to help fund Phase 3 trials. He has a major stake in the company with current holdings totaling 3.33M shares.
- Last week, CTXR officially received “Fast Track” designation by the FDA for Mino-Lok™ Investigational Trial (Mino-Lok is a catheter lock solution that has entered phase 3 trials for an adjunctive treatment for catheter related blood stream infection (“CRBSI”)). The FDA only designates Fast Track status to products that treat serious or life-threatening conditions and fill an unmet medical need. It makes Mino-Lok™ eligible for priority review to shorten the FDA review process from ten months to only six months.
Below are a few other biotech companies that received FDA Fast Track status in recent months:
Pluristem (PSTI) received Fast Track status on September 18, 2017 and the stock went from $1.34 per share to a high in October of $2.12 per share for a gain of 58.2% in just over a month.
Iovance Biotherapeutics (IOVA) received Fast Track status on August 31, 2017 and the stock rose from $5.55 per share to a high in September of $8.60 per share for a gain of 54.9% in less than one month.
UroGen Pharma (URGN) received Fast Track status on August 29, 2017 and the stock rose from $18.04 per share to a high of $38.38 per share just a few days ago for a gain of 112.7% in just over two months.
CTXR has the lowest market cap out of all of these biotech companies and a strong cash position, so make sure to do your research and learn more about Citius from their recent Investor Presentation.
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