Why Citius Pharmaceuticals Is Trading Higher Today

Citius Pharmaceuticals CTXR is trading higher after signing an exclusive option with Novellus to license its Novel Stem-Ce; Therapy for acute respiratory distress syndrome associated with Coronavirus.

Citius is a pharmaceutical company, developing and commercializes critical care products. It primarily focuses on developing anti-infective, cancer care, and prescription products. The company develops Mino-Lok, which is in Phase III clinical trials for the treatment and salvage of infected central venous catheters in patients with catheter related bloodstream infections.

Citius Pharmaceuticals shares were trading up 29.98% to 78 cents in Wednesday’s pre-market session. The stock has a 52-week high of $1.50 and a 52-week low of 40 cents.