CTOR · Citius Oncology, Inc.

Citius Oncology's fiscal Q2 2026 results reflect early commercial traction from the December 2025 LYMPHIR launch, generating $5.6 million in net revenue over six months at robust 80% gross margins, driven by initial distributor orders and emerging institutional demand. Management highlights a smooth transition from channel fill to treatment-driven reorders, bolstered by 83% target account formulary penetration and near-100% payer coverage without denials. Community infusion center expansion signals scaling beyond academic centers. The $32.1 million six-month net loss, up from $14.4 million prior year, stems primarily from a $19.7 million one-time CMO contract cancellation charge within $26.5 million G&A expenses, partially offset by $1.76 million gain from New Jersey NOL sales and LYMPHIR revenues. R&D expenses declined 52% year-over-year to $2.1 million due to reduced clinical activity post-approval. Post-quarter, critical liquidity was addressed via up to $36.5 million financing: $11.5 million warrant exercises and a $25 million term loan from Avenue Capital ($10 million drawn), extending runway with Citius Pharma support through November 2026. Business momentum includes Europe shipments via Named Patient Programs, AI-driven prescriber targeting, sales force buildout to full deployment by mid-summer, and positive Phase 1 data reinforcing LYMPHIR's immuno-oncology potential in combinations with pembrolizumab and CAR-T. With $22.7 million inventory supporting demand, focus shifts to commercial execution amid strategic review with Jefferies.