Citius Pharmaceuticals (NASDAQ:CTXR) stock is on the rise Tuesday after the company announced new results from its Phase 3 clinical trial of Mino-Lok.
Mino-Lok is Citius Pharmaceuticals’ antibiotic lock solution for patients with central line-associated infections or catheter-related bloodstream infections. The good news for CTXR investors is that this trial met both its primary and secondary endpoints.
The primary endpoint was extending the time until catheter failure. In the control arm, the median failure of catheters was 33 days. Citius Pharmaceuticals doesn’t have an estimated failure time for the Mino-Lok portion of the trial, as it “exceeded the time the patients were on trial.”
Leonard Mazur, Chairman and CEO of Citius Pharmaceuticals, said this about the results:
“We believe Mino-Lok could potentially set a new standard of care (SOC) as an adjunct therapy in the treatment of patients with bloodstream infections. This therapy offers a non-invasive treatment option compared to catheter removal and replacement.”
CTXR Stock Movement Today
This news brings with it heavy trading of Citius shares on Tuesday. That has more than 15 million units changing hands as of this writing. This is well above its daily average trading volume of about 984,000 shares.
CTXR stock is up 10.5% as of Tuesday morning. However, shares are still down 10.2% year-to-date (YTD).
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
