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published in Blogs
Jul 01, 2021
Citius (CTXR, $2.59) stock drops, on panel recommendation to continue antibiotic trial

Citius (CTXR, $2.59) stock drops, on panel recommendation to continue antibiotic trial

On Thursday, Citius Pharmaceutical shares dropped, following news of  a panel recommendation that a Phase 3 trial of the company’s antibiotic treatment for catheter-related bloodstream infections should continue.

Investors may have been expecting the trial to stop early instead of continuing as planned, after the drug showed better results compared  to typical antibiotic treatment according to a Bloomberg report.

According to Citius, the independent data monitoring panel for the Mino-Lok Phase 3 pivotal superiority trial recommended that the company should continue with the trial as planned. Myron Holubiak, president and chief executive mentioned that this would be the third recommendation by the DMC supporting the continuation of the Mino-Lok trial. He said the outcome indicates that “based on our predefined parameters, it would be possible to achieve our primary endpoint by continuing the trial as planned, and is an encouraging signal when combined with the results of our prior studies."

The panel did not mention any safety concerns.

 

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