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Common Stock, Stock Options and Warrants (Tables)

12 Months Ended

Sep. 30, 2024

Common Stock, Stock Options and Warrants [Abstract]

Schedule of Common Shares

The Company completed the following sales of its common shares through the Manager in September.

										Gross				Net
Date		Shares				Price				Proceeds				Proceeds 1
9/23/2024			14,295			$	14.22			$	203,240			$	195,815
9/27/2024			3,254			$	12.65				41,148				41,358
9/30/2024			619			$	12.52				7,752				7,223
Total			18,168							$	252,140			$	247,396

1) Net proceeds after deducting the broker fee and trading expenses but before offering expenses.

Schedule of Determining the 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, 2024 and 2023:

		2024		2023
Risk-free interest rate		4.62 – 4.66%		1.05 – 2.94%
Expected dividend yield		0.00%		0.00%
Expected term		5.50 – 10 years		6.50 – 10 years
Expected volatility		85 – 86%		94 – 110%

The following assumptions were used in determining the fair value of the Citius Oncology stock option grants for the year ended September 30, 2024 and 2023:

		2024		2023
Risk-free interest rate		4.66%		4.11%
Expected dividend yield		0.00%		0.00%
Expected term		6.50 years		5.96 years
Expected volatility		87%		91%

Schedule of Option Activity Under Our Stock Option 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, 2023			532,207			$	44.75				7.41 years			$	56,203
Granted			166,400			$	17.50				9.04 years			$	0.00
Exercised			(2,125	)		$	0.38							$	39,068
Forfeited or expired			(40,398	)		$	68.50
Outstanding at September 30, 2024			656,084			$	36.41				7.26 years			$	0.00
Exercisable at September 30, 2024			347,618			$	44.40				6.27 years			$	0.00

A summary of option activity under the Citius Oncology plan is presented below:

		Shares				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term				Aggregate Intrinsic Value
Outstanding at September 30, 2023			12,600,000			$	2.15				9.77 years			$	—
Granted			150,000				2.15
Forfeited			—
Outstanding at September 30, 2024			12,750,000			$	2.15				8.78 years			$	—
Exercisable at September 30, 2024			3,937,500			$	2.15				8.77 years			$	—

Schedule of Exercise of Outstanding Warrants

The following table summarizes the warrants outstanding at September 30, 2024:

		Exercise price				Number				Expiration Dates
August 2018 Offering Investors			28.75				156,863			August 14, 2024
August 2018 Offering Agent			39.84				7,576			August 8, 2024
April 2019 Registered Direct/Private Placement Investors			35.50				51,780			April 5, 2024
April 2019 Registered Direct/Private Placement Agent			48.28				9,605			April 5, 2024
September 2019 Offering Investors			19.25				111,732			September 27, 2024
September 2019 Offering Underwriter			27.97				7,774			September 27, 2024
February 2020 Exercise Agreement Placement Agent			31.88				5,555			August 19, 2025
May 2020 Registered Direct Offering Investors			25.00				66,824			November 18, 2025
May 2020 Registered Direct Offering Placement Agent			33.20				6,226			May 14, 2025
August 2020 Underwriter			32.81				8,079			August 10, 2025
January 2021 Registered Direct Offering Investors			30.78				123,648			July 27, 2026
January 2021 Registered Direct Offering Agent			40.44				14,065			July 27, 2026
February 2021 Offering Investors			42.50				823,211			February 19, 2026
February 2021 Offering Agent			47.03				100,256			February 19, 2026
May 2023 Registered Direct Offering Investors			37.50				500,000			May 8, 2028
May 2023 Registered Direct Offering Agent			37.50				35,000			May 3, 2028
April 2024 Registered Direct Offering Investors			18.75				857,143			October 30, 2029
April 2024 Registered Direct Offering Agent			21.875				60,000			April 25, 2029
							2,945,337

Schedule of Common Stock Reserved for Future Issuances

A summary of common stock reserved for future issuances by the Company excluding all subsidiaries as of September 30, 2024 is as follows:

Stock plan options outstanding			656,084
Stock plan shares available for future grants			303,000
Warrants outstanding			2,945,337
Total			3,904,421

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