• Maxim Group is acting as financial advisor on the spin-off of Citius Pharmaceutical’s oncology asset, I/ONTAK, into a standalone public company.
• The FDA is reviewing the Biologics License Application (BLA) for I/ONTAKs with a target action date of July 28, 2023. Citius intends to maximize the value of I/ONTAK and advance its pipeline subject to all customary approvals.

Late-stage biopharmaceutical company Citius Pharmaceuticals announced that Maxim Group has acted as financial advisor to its wholly-owned subsidiary, Citius Acquisition Corp. Inc. will act in the formation of a public company focused on the commercialization and growth of Citius’ oncology asset, I/ONTAK.

The U.S. Food and Drug Administration is currently reviewing a biologics application for I/ONTAK with a target decision date of July 28, 2023.

Citius CEO Leonard Mazur stated that the company is committed to maximizing the value of I/ONTAK and advancing its pipeline. Maxim Group was selected for its strong track record of executing strategic and financial transactions in the life sciences sector.

All transactions are subject to customary conditions, regulatory approvals, SEC filings and board approvals. Upon completion of the transactions, Citius will continue to trade on the Nasdaq exchange under its current ticker CTXR.

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