NEW YORK, July 7, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Citius Pharmaceuticals, Inc. («Citrus» or the «Company») (NASDAQ: CTXR). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Citius and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 1, 2021, Citius issued a press release entitled «Citius Pharmaceuticals, Inc. Announces Positive Recommendation by Independent Data Monitoring Committee to Continue the Mino-Lok Phase 3 Trial as Planned.» Although the press release framed its contents in positive terms, disclosing, among other things, that «following a unblinded data review of safety and efficacy, the independent Data Monitoring Committee (DMC) for the Mino-Lok® Phase 3 Pivotal Superiority Trial has recommended proceeding with the trial as planned» and «did not identify any safety concerns and no modifications were recommended to the protocol-defined sample size or power to achieve the primary endpoint», analysts and industry observers noted that the trial’s third interim analysis scheduled for June 29, 2021 did not find evidence of superiority over standard care, contrary to investor expectations.
On this news, Citius’s stock price fell $0.88 per share, or 25.29%, to close at $2.60 per share on July 1, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP