Citius Pharmaceuticals Approaches End Of Trial For Catheter-Related Bloodstream Infections – How Are Analysts Scoring Its Stock?

The late-stage biopharma Citius Pharmaceuticals Inc. CTXR is approaching the conclusion of the phase 3 trial for its drug, Mino-Lok. Mino-Lok is an antibiotic lock solution for treating catheter-related bloodstream infections. 

Citius is a biopharma that focuses on developing and commercializing first-in-class critical care products. The company has a diversified pipeline of potential therapies in addition to Mino-Lok,  including a cancer immunotherapy, and a topical prescription strength treatment for hemorrhoids. Mino-Lok, a treatment for patients with central venous catheter (CVC) related infections, aiming to salvage catheters in patients so that they don’t need to undergo the painful and expensive process of having their catheters removed and replaced.

There are 92 required events before the trial is concluded, and Citius has successfully completed 85 events. Of the 192 patients in the trial, 16 are currently undergoing active treatment, which may render more events. The company is also recruiting more patients at 35 clinical trial sites in the US and India.

The phase 3 trial is a randomized, blinded study evaluating both the efficacy and safety of Mino-Lok. The trial’s measuring point is Mino-Lok’s superiority to the standard of care antibiotic lock solution.

Chairman and CEO of Citius Leonard Mazur commented, “We are encouraged by the progress of our Phase 3 Mino-Lok® trial in 2023. Last year, we announced the addition of multiple trial sites in India to expedite trial completion. With an estimated 85 achieved events to date, we believe we are nearing the finish line.”

Analysts Respond To Citius News

The CVC market was worth $1.18 billion in 2021 and is expected to reach $1.9 billion by 2030. This is a compound annual growth rate (CAGR) of 5.8% over 2021-2030. Growth in this market is driven partly by the aging population and the increase in heart-related diseases. With approximately 250,000 cases every year, CRBSIs remain a serious concern in healthcare. These infections can carry a mortality rate of 12-15% and cause additional healthcare costs of approximately $46,000.

Treatments for these infections – like Mino-Lok – are reportedly sorely needed. That could be why Citius’ stock has received an average “Strong Buy” rating from Wall Street analysts. A recent report from Dawson James reacted to the trial news by rating the stock as a buy. Its rating is based on the fact that as well as the Mino-Lok trials, Citius has another drug at phase 3, I/ONTAK. The Food and Drug Administration (FDA) is currently reviewing a biologics license application for I/ONTAK, with a decision expected by July 28, 2023.

Another report, from the equity research company Maxim Group, called the Mino-Lok announcement a major catalyst for Citius. Maxim Group says this news could lead to changes in revenue and market opportunities for the company.   

Other companies developing treatments for life-threatening diseases include CorMedix CRMD and Zevra Therapeutics Inc. ZVRA.

Stay informed about Citius Pharma’s pipeline of drugs as its phase 3 trials approach completion.

Featured photo by insung yoon on Unsplash

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