Citius Pharmaceuticals Announces TenX Keane Shareholder Approval Of Merger With Citius Oncology; Citius Pharmaceuticals To Retain ~90% Majority Control Post Transaction
Portfolio Pulse from Benzinga Newsdesk
Citius Pharmaceuticals has announced that TenX Keane shareholders have approved the merger with Citius Oncology. Post-merger, Citius Pharmaceuticals will retain approximately 90% control and the new entity will trade on Nasdaq as Citius Oncology, Inc. The merger is expected to support the commercialization of LYMPHIR and exploration of additional oncology assets.
August 05, 2024 | 12:06 pm
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POSITIVE IMPACT
Citius Pharmaceuticals will retain approximately 90% control post-merger with TenX Keane, which will be renamed Citius Oncology, Inc. This merger is expected to support the commercialization of LYMPHIR and exploration of additional oncology assets.
The merger approval and the retention of majority control by Citius Pharmaceuticals is a positive development, likely to boost investor confidence. The potential commercialization of LYMPHIR and exploration of additional oncology assets further adds to the positive outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
TenX Keane shareholders have approved the merger with Citius Pharmaceuticals' oncology subsidiary. The new entity will be renamed Citius Oncology, Inc. and will continue to trade on Nasdaq.
The approval of the merger by TenX Keane shareholders is a positive development, likely to enhance the value of TenX Keane shares as the new entity, Citius Oncology, Inc., is expected to have a strong focus on oncology assets.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90