Citius Pharmaceuticals Stock Is Soaring Monday: What's Going On?

Citius Pharmaceuticals, Inc. CTXR shares are trading higher Monday after the company announced it entered into a distribution services agreement with Cardinal Health.

The Details: Cities entered into a distribution services agreement with Cardinal Health to help provide access to LYMPHIR (denileukin diftitox-cxdl), an FDA-approved immunotherapy for the treatment of adults with relapsed or refractory cutaneous T-cell lymphoma, in support of its anticipated U.S. commercial launch.

Under the agreement, Cardinal will serve as an authorized distributor of record for Citius Oncology providing specialty pharmaceutical distribution services.

“This agreement marks a key step forward in our launch readiness efforts,” said Leonard Mazur, chairman and CEO of Citius Oncology and Citius Pharmaceuticals.

“Cardinal Health’s proven distribution capabilities will help ensure LYMPHIR reaches healthcare providers and patients efficiently and reliably, as we work to build a robust commercial distribution network.”

CTXR Price Action: At the time of publication Monday, Citius Pharmaceuticals shares were up 100.9% at $1.73, according to data from Benzinga Pro.

Read Next:

• JM Smucker Likely To Report Lower Q4 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Image via Shutterstock.