Citius Pharmaceuticals to receive 65.6 million shares of TenX Keane, which will be renamed Citius Oncology, Inc. Citius Pharmaceuticals to retain approximately 90% majority control post transaction Post-merger company expected to trade on Nasdaq as Citius Oncology, Inc.
Transaction expected to support commercialization of LYMPHIR, if approved, and exploration of additional oncology assets CRANFORD, N.J. , Aug.
5, 2024 /PRNewswire/ -- Citius Pharmaceuticals, Inc. ("Citius Pharma" or the "Company") (Nasdaq: CTXR ), a late-stage biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products, today announced that shareholders of TenX Keane Acquisition ("TenX") (Nasdaq: TENK ), a publicly traded special purpose acquisition company, have voted to approve the previously announced business combination with Citius Pharma's oncology subsidiary. The newly combined public company will continue to trade on the Nasdaq stock exchange and is to be renamed Citius Oncology, Inc.
("Citius Oncology"). The transaction has been unanimously approved by the Board of Directors of both companies and Citius Pharma. Subject to certain contractual as well as customary closing conditions, the merger is expected to be completed in the coming weeks.
The transaction is expected to provide Citius Oncology with improved access to the public equity markets, support the commercialization of LYMPHIR, if approved, and position the company to explore additional.
