Citius Oncology (CTOR) Q2 2026 earnings summary

Executive summary

• Commercial launch of LYMPHIR, an oncology immunotherapy for CTCL, began in December 2025, with initial U.S. and European shipments, expanding market access through distribution agreements and Named Patient Programs.

• Generated $5.61 million in net revenue for the first half of fiscal 2026, driven by LYMPHIR's launch, with gross margins of approximately 80%.

• Achieved 83% formulary inclusion or review among target accounts and near 100% payer coverage with no reimbursement denials.

• The company is actively evaluating strategic alternatives and has retained Jefferies LLC as exclusive financial advisor.

• Positive topline results from two investigator-initiated Phase 1 trials for LYMPHIR in combination therapies reinforce its platform potential.

Financial highlights

• For the three months ended March 31, 2026: revenue was $1.67 million, gross profit $1.34 million (80% margin), and net loss $26.6 million, compared to a net loss of $7.7 million in the prior year period.

• For the six months ended March 31, 2026: revenue was $5.61 million, gross profit $4.49 million (80% margin), and net loss $32.1 million, compared to a net loss of $14.4 million in the prior year period.

• Operating expenses rose sharply to $29.95 million for the quarter, mainly due to a $19.7 million contract cancellation fee from a terminated manufacturing agreement.

• R&D expenses decreased to $1.1 million for Q2 2026 from $3.1 million in Q2 2025; $2.1 million for the six months ended March 31, 2026, down from $4.4 million year-over-year.

• Stock-based compensation for the quarter was $3.53 million, up from $2.09 million year-over-year.

Outlook and guidance

• Management expects continued revenue growth as LYMPHIR adoption expands in the U.S. and internationally.

• Sufficient funds are expected to support operations through November 2026 after recent equity and debt financings; additional capital will be needed beyond that period.

• Full commercial team expected to be deployed by mid-summer 2026.