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Common Stock, Stock Options and Warrants (Tables)

12 Months Ended

Sep. 30, 2023

Common Stock, Stock Options and Warrants [Abstract]

Schedule of Fair Value of Stock Option Grants

The following assumptions were used in determining the fair value of stock option grants for the years ended September 30, 2023 and 2022:

		2023				2022
Risk-free interest rate			3.52 – 4.14%				1.05 – 2.94%
Expected dividend yield			0.00%				0.00%
Expected term			5.50 – 10 years				6.50 – 10 years
Expected volatility			89 – 90%				94 – 110%

Schedule of Option Activity Under the Plans

A summary of option activity under the Citius Pharma plans (excluding the NoveCite and Citius Oncology Stock Plans) is presented below:

		Option Shares				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at September 30, 2022			9,400,171			$	2.07			7.81 years		$	869,509
Granted			4,150,000				1.26
Exercised			(46,667	)			0.67						34,067
Forfeited or expired			(198,333	)			3.91
Outstanding at September 30, 2023			13,305,171			$	1.79			7.41 years		$	56,203
Exercisable at September 30, 2023			6,558,507			$	2.09			6.19 years		$	56,203

Schedule of Warrants Outstanding

The following table summarizes the warrants outstanding at September 30, 2023:

		Exercise price				Number				Expiration Dates
March 2018 Registered Direct/Private Placement Investors		$	2.86				218,972			October 2, 2023
August 2018 Offering Investors			1.15				3,921,569			August 14, 2024
August 2018 Offering Agent			1.59				189,412			August 8, 2024
April 2019 Registered Direct/Private Placement Investors			1.42				1,294,498			April 5, 2024
April 2019 Registered Direct/Private Placement Agent			1.93				240,130			April 5, 2024
September 2019 Offering Investors			0.77				2,793,297			September 27, 2024
September 2019 Offering Underwriter			1.12				194,358			September 27, 2024
February 2020 Exercise Agreement Placement Agent			1.28				138,886			August 19, 2025
May 2020 Registered Direct Offering Investors			1.00				1,670,588			November 18, 2025
May 2020 Registered Direct Offering Placement Agent			1.33				155,647			May 14, 2025
August 2020 Underwriter			1.31				201,967			August 10, 2025
January 2021 Registered Direct Offering Investors			1.23				3,091,192			July 27, 2026
January 2021 Registered Direct Offering Agent			1.62				351,623			July 27, 2026
February 2021 Offering Investors			1.70				20,580,283			February 19, 2026
February 2021 Offering Agent			1.88				2,506,396			February 19, 2026
May 2023 Registered Direct Offering Investors			1.50				12,500,001			May 8, 2028
May 2023 Registered Direct Offering Agent			1.50				875,000			May 3, 2028
							50,923,819

Schedule of Common Stock Reserved for Future Issuances

A summary of common stock reserved for future issuances as of September 30, 2023 is as follows:

Stock plan options outstanding			13,305,171
Stock plan shares available for future grants			11,735,000
Warrants outstanding			50,923,819
Total			75,963,990

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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