Shares of Citius Oncology Inc (NASDAQ:CTOR) soared by 33% following the announcement of a distribution services agreement with Cardinal Health (NYSE:CAH), a major player in pharmaceutical and specialty pharmaceutical distribution services in the United States. The partnership aims to facilitate the U.S. commercial launch of LYMPHIR™, an FDA-approved immunotherapy for the treatment of relapsed or refractory cutaneous T-cell lymphoma (CTCL).
Citius Pharmaceuticals Inc (NASDAQ:CTXR), the parent company of Citius Oncology, also saw its shares climb by 6.7%.
The distribution agreement is a strategic move for Citius Oncology as it prepares to introduce LYMPHIR™ to the market. Leonard Mazur, Chairman and CEO of Citius Oncology and Citius Pharmaceuticals, expressed confidence in the partnership, stating, "This agreement marks a key step forward in our launch readiness efforts." He emphasized that Cardinal Health’s distribution expertise will ensure efficient and reliable access to LYMPHIR™ for healthcare providers and patients, as the company aims to establish a strong commercial distribution network.
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