SpinCo reports $14.3M net loss for nine months; going concern uncertainty raised

CITIUS ONCOLOGY, INC.

Net loss of $14.3M for nine months ended June 30, 2024 (vs $7.5M prior year); no revenue.
Working capital deficit of $21.4M; cash balance $0 at June 30, 2024.
Due to related party (Citius Pharma) $30.9M, up from $19.5M at Sept 30, 2023.
Company expresses substantial doubt about ability to continue as going concern within one year.
Stock-based compensation expense $5.8M for the nine months; $40M in-process R&D asset for LYMPHIR.

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