Curated News
By: NewsRamp Editorial Staff
August 06, 2024
Citius Pharma Receives Approval for Business Combination with TenX Keane, Forming Citius Oncology, Inc.
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- Citius shareholders can unlock significant value through the business combination with TenX Keane, gaining improved access to capital markets.
- Citius Pharmaceuticals will merge its oncology unit with TenX Keane to form Citius Oncology, a publicly traded entity on the Nasdaq stock exchange.
- The merger will facilitate the development and commercialization of novel targeted oncology therapies, potentially improving treatment options for cancer patients.
- LYMPHIR, a recombinant fusion protein designed to treat T-cell lymphomas, is expected to go to market after FDA approval, offering new hope for patients.
Impact - Why it Matters
This news matters as it highlights Citius Pharmaceuticals' strategic move to unlock value for shareholders through the formation of Citius Oncology, Inc. The development and commercialization of new targeted oncology therapies, starting with LYMPHIR, could have a significant impact on the treatment of T-cell lymphomas, potentially benefiting patients and investors alike.
Summary
Citius Pharmaceuticals Inc. (NASDAQ: CTXR) has received approval from TenX Keane Acquisition (NASDAQ: TENK) shareholders for a business combination, forming Citius Oncology, Inc. The new company will focus on developing and commercializing novel targeted oncology therapies, with LYMPHIR as the first drug to go to market. The SPAC deal is expected to unlock significant value for Citius shareholders and provide improved access to public equity markets, potentially facilitating the commercialization of LYMPHIR.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Citius Pharma Receives Approval for Business Combination with TenX Keane, Forming Citius Oncology, Inc.
