<SEC-DOCUMENT>0001213900-20-010246.txt : 20200428
<SEC-HEADER>0001213900-20-010246.hdr.sgml : 20200428
<ACCEPTANCE-DATETIME>20200428083027
ACCESSION NUMBER:		0001213900-20-010246
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200427
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200428
DATE AS OF CHANGE:		20200428

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Citius Pharmaceuticals, Inc.
		CENTRAL INDEX KEY:			0001506251
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				273425913
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38174
		FILM NUMBER:		20822438

	BUSINESS ADDRESS:	
		STREET 1:		11 COMMERCE DRIVE
		STREET 2:		1ST FLOOR
		CITY:			CRANFORD
		STATE:			NJ
		ZIP:			07016
		BUSINESS PHONE:		(908) 967-6676

	MAIL ADDRESS:	
		STREET 1:		11 COMMERCE DRIVE
		STREET 2:		1ST FLOOR
		CITY:			CRANFORD
		STATE:			NJ
		ZIP:			07016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Trail One, Inc.
		DATE OF NAME CHANGE:	20110314

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TrailOne, Inc.
		DATE OF NAME CHANGE:	20101119
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>ea121085-8k_citiuspharma.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Washington, D.C. 20549</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Pursuant to Section 13 or 15(d) of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0; text-align: center">Date of Report (Date of earliest event reported)
<U>April 27, 2020</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0; text-align: center"><U></U></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Citius Pharmaceuticals, Inc.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>Nevada</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or other jurisdiction of incorporation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 49%">333-206903</TD>
    <TD STYLE="padding-bottom: 1pt; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 49%">27-3425913</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(IRS Employer Identification No.)</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">11 Commerce Drive, 1st Floor, Cranford,
NJ&#9;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">07016</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">&#9;(Address of principal executive offices)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&#9;(Zip Code)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0; text-align: center">Registrant's
telephone number, including area code <U>(908) 967-6677</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#9744;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#9744;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#9744;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: left"><FONT STYLE="font-family: Wingdings 2">&#9744;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 8pt 0">Securities registered pursuant to Section 12(b) of the
Act:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; width: 33%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Title
                                         of each class</P></TD><TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 33%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">Trading
                                         Symbol(s)</P></TD><TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 32%; text-align: left"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">Name of each exchange</P> <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">on
                                         which registered</P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Common stock, $0.001 par value <BR></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">CTXR</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">The Nasdaq Capital Market</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Warrants to purchase common stock</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><P STYLE="text-align: center; margin-top: 0; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0">CTXRW</P>


</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><P STYLE="text-align: center; margin-top: 0; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0">The Nasdaq Capital Market</P>


</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 8pt 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">Emerging
growth company &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 8.01. Other Material Information.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On April 27, 2020, Citius Pharmaceuticals, Inc. issued a press release
to announce that it had submitted to the U.S. Food and Drug Administration a pre-IND meeting request under the FDA&rsquo;s Coronavirus
Treatment Acceleration Program for a novel stem cell therapy for acute respiratory distress syndrome (ARDS). A copy of the press
release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 9.01.</B></TD><TD><B>Financial Statements and Exhibits</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Exhibits.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-bottom: Black 1pt solid; width: 12%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exhibit
No.</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 87%">Description of Exhibit</TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: rgb(204,238,255)">
    <TD>99.1</TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="ea121085ex99-1_citiuspharma.htm">Press release dated April 27, 2020</A></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>SIGNATURE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 6pt"></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">Date: &#9;<U>April 28, 2020</U></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CITIUS PHARMACEUTICALS, INC.</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 63%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 37%"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ Myron Holubiak</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Myron
    Holubiak<BR>President and Chief Executive Officer</FONT></TD></TR>
</TABLE>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ea121085ex99-1_citiuspharma.htm
<DESCRIPTION>PRESS RELEASE DATED APRIL 27, 2020
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Citius Announces Pre-IND Submission to FDA
Under the Coronavirus Treatment Acceleration Program for a Novel Stem Cell Therapy for Acute Respiratory Distress Syndrome (ARDS)
in COVID-19</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 40.5pt"><I>&nbsp;</I></P>

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<TD STYLE="width: 22.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 12pt"><I>Company&rsquo;s goal to initiate clinical trial in patients in 2020</I></FONT></TD></TR></TABLE>

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<TD STYLE="width: 22.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 12pt"><I>Innovative therapy candidate uses next generation mesenchymal stem cells (MSCs) derived from
a master cell bank of induced pluripotent stem cells (iPSCs) </I></FONT></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">CRANFORD, NJ &ndash; April 27, 2020 &ndash; Citius Pharmaceuticals,
Inc. (&ldquo;Citius&rdquo; or the &ldquo;Company&rdquo;) (Nasdaq: CTXR), a specialty pharmaceutical company focused on developing
and commercializing critical care drug products, today announced that it submitted a pre-IND meeting request and supporting briefing
documents to the Center for Biologics Evaluation and Research (&ldquo;CBER&rdquo;) of the FDA under the Coronavirus Treatment Acceleration
Program (CTAP) on April 24. The Company has requested the Division&rsquo;s feedback to support the most expeditious pathway into
the clinic to evaluate a novel cell therapy in patients suffering from COVID-19-related ARDS.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The cells, called NoveCite Cells or NC-MSCs, are made by Novellus,
Inc. (&ldquo;Novellus&rdquo;), a Cambridge-based biotechnology company, using its patented mRNA-based cell-reprogramming process.
NC-MSCs are mesenchymal stem cells derived from a single donor&rsquo;s fibroblasts that have been dedifferentiated into an induced
pluripotent stem cell (iPSC) master cell bank, thereby avoiding the need to source additional donor cells. The iPSCs are then further
differentiated into a mesenchymal stem cell (MSC) therapy. Citius and Novellus plan to develop NC-MSCs for the treatment of ARDS,
and last month the companies signed an exclusive option agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company plans a multi-center randomized placebo-controlled dose-finding
study followed by an expansion phase to assess the safety, tolerability, and efficacy of NC-MSCs in patients with moderate to severe
ARDS due to COVID-19. The proposed trial, a Phase 1b/2 clinical trial, is titled &ldquo;A Randomized Placebo-Controlled Dose-Finding
Study Followed by a Dose Level Expansion to Assess the Safety and Efficacy of NoveCite <B>M</B>SCs in Subjects with <B>A</B>cute
<B>R</B>espiratory Distress Syndrome (ARDS) Due to SARS-CoV-2 Disease (<B>CO</B>VID-19),&rdquo; or &ldquo;<B>MARCO&rdquo;</B>.
The primary objectives of this study are to evaluate the safety and efficacy of NoveCite cells as a treatment for subjects with
moderate-to-severe ARDS due to COVID-19 and to identify therapeutic doses.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&ldquo;MSCs have an established track-record of clinical safety,
and have shown promise in the treatment of inflammatory lung disease,&rdquo; said Matt Angel, PhD, co-founder and Chief Science
Officer at Novellus, Inc. &ldquo;Our research has shown that the NoveCite cells, being derived from mRNA-reprogrammed iPSCs, secrete
higher levels of immunomodulatory proteins than donor-derived MSCs, and have unique manufacturing advantages.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&ldquo;We believe we have the key elements in place from a clinical
design and manufacturing point of view to evaluate this novel cell therapy approach to deal with the current pandemic,&rdquo; said
Myron Holubiak, Chief Executive Officer of Citius. &ldquo;ARDS is a very serious complication for many patients suffering from
COVID-19, and is believed to account for about 80% of the deaths in ventilated patients. There is no proven or FDA-approved treatment
for it, other than oxygen therapy, including use of mechanical ventilation, and fluid managment. Literature from previous investigational
studies with MSCs in the treatment of lung injuries support the idea that MSCs could prove effective in treating COVID-19-related
ARDS. We look forward to our FDA discussions and are excited to be at the cusp of what could be a novel and effective therapy for
ARDS.&rdquo;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>About Acute Respiratory Distress Syndrome (ARDS)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">ARDS is a type of respiratory failure characterized by rapid onset
of widespread inflammation in the lungs. ARDS is a rapidly progressive disease that occurs in critically ill patients &ndash; most
notably now in those diagnosed with COVID-19. ARDS affects approximately 200,000 patients per year in the U.S., exclusive of the
current COVID-19 pandemic, and has a 30% to 50% mortality rate. ARDS is sometimes initially diagnosed as pneumonia or pulmonary
edema (fluid in the lungs from heart disease). Symptoms of ARDS include shortness of breath, rapid breathing and heart rate, chest
pain (particularly while inhaling), and bluish skin coloration. Among those who survive ARDS, a decreased quality of life is relatively
common.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>About Coronavirus Treatment Acceleration Program (CTAP)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In response to the pandemic, the FDA has created an emergency program
called the Coronavirus Treatment Acceleration Program (CTAP) to accelerate the development of treatments for COVID-19. By redeploying
staff, the FDA is responding to COVID-19-related requests and reviewing protocols within 24 hours of receipt. The FDA said CTAP
&ldquo;uses every available method to move new treatments to patients as quickly as possible, while at the same time finding out
whether they are helpful or harmful.&rdquo; In practice, that means developers of potential treatments for COVID-19 will benefit
from an unusually faster track at the FDA to shorten wait times at multiple steps of the process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>About Citius Pharmaceuticals, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Citius is a late-stage specialty pharmaceutical company dedicated
to the development and commercialization of critical care products, with a focus on anti-infectives and cancer care. For more information,
please visit www.citiuspharma.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>About Novellus, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Novellus is a pre-clinical stage biotechnology company developing
engineered cellular medicines using its non-immunogenic mRNA, nucleic-acid delivery, gene editing, and cell reprogramming technologies.
Novellus is privately held and is headquartered in Cambridge, MA. For more information, please visit www.novellus-inc.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Safe Harbor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">This press release may contain &quot;forward-looking statements&quot;
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements
are made based on our expectations and beliefs concerning future events impacting Citius. You can identify these statements by
the fact that they use words such as &quot;will,&quot; &quot;anticipate,&quot; &quot;estimate,&quot; &quot;expect,&quot; &quot;should,&quot;
and &quot;may&quot; and other words and terms of similar meaning or use of future dates. Forward-looking statements are based on
management&rsquo;s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating
results, financial condition, and stock price. Factors that could cause actual results to differ materially from those currently
anticipated are: the risk of successfully negotiating a license agreement with Novellus within the option period; our need for
substantial additional funds; the ability to access the FDA&rsquo;s CTAP program for the MARCO trial; the estimated markets for
our product candidates, including those for ARDS, and the acceptance thereof by any market; risks associated with conducting trials
for our product candidates, including those expected to be required for any treatment for ARDS and our Phase III trial for Mino-Lok;
risks relating to the results of research and development activities; risks associated with developing our product candidates,
including any licensed from Novellus, including that preclinical results may not be predictive of clinical results and our ability
to file an IND for such candidates; uncertainties relating to preclinical and clinical testing; the early stage of products under
development; risks related to our growth strategy; our ability to obtain, perform under, and maintain financing and strategic agreements
and relationships; our ability to identify, acquire, close, and integrate product candidates and companies successfully and on
a timely basis; our ability to attract, integrate, and retain key personnel; government regulation; patent and intellectual property
matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking
to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations
or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Andrew Scott</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Vice President, Corporate Development</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(O) 908-967-6677 x105</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">ascott@citiuspharma.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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