Will Citius Pharmaceuticals Inc (NASDAQ:CTXR) Bounce Back?

Citius Pharmaceuticals Inc (NASDAQ:CTXR) manages to close in the green on Friday after the earnings update.

Market Action

CTXR stock closed at $1.96, up 3.70% on Friday. More than 4.54 million shares traded hands for the session. The stock opened at $1.902 and moved within a range of $1.8910-$2.0350. However, the stock ended the week with a fall of about 9.70%.

Citius Pharmaceuticals Releases News

Citius Pharmaceuticals updated shareholders with news this week. Key Points were:

  • CTXR raised approximately $96.5 million from financing activities during the first quarter of 2021;
  • CTXR reported $103.7 million in cash and cash equivalents as of March 31, 2021;
  • Net loss was $4.1 million and $12.3 million for the three and six months ended March 31, 2021, respectively, compared to a net loss of $4.4 million and $8.7 million for the comparable periods in 2020.

Trader Notes

CTXR is currently trading below its 20 day moving average, but slightly above its 50 and 200 MAs. The stock is up 8.89% for the month and 92% this year.

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