Domo signs strategic collaboration agreement with AWS for AI solutions
NEW JERSEY - Citius Oncology, Inc. (NASDAQ:CTOR) has implemented an artificial intelligence platform to enhance its commercial operations ahead of the anticipated launch of LYMPHIR, a treatment for cutaneous T-cell lymphoma (CTCL), the company announced Friday. Parent company Citius Pharmaceuticals (NASDAQ:CTXR), currently trading at $1.23, shows mixed signals according to InvestingPro data, with analysts setting a $6 price target despite recent market challenges.
The proprietary system is designed to identify patterns in treatment and diagnosis, allowing the commercial team to target healthcare providers whose patients may benefit from LYMPHIR, which received FDA approval in August 2024.
According to the company, the platform uses machine learning to continuously refine its capabilities through the integration of real-world U.S. claims data and marketing performance analytics.
"This proprietary platform is designed to augment the clinical expertise and experience of our salesforce," stated Leonard Mazur, Chairman and CEO of Citius Oncology and Citius Pharmaceuticals (NASDAQ:CTXR).
The AI system aims to deliver predictive insights that enable tailored customer engagement across digital and in-person touchpoints as new utilization trends emerge.
LYMPHIR is indicated for Stage I-III CTCL after at least one prior systemic therapy. The treatment is a recombinant fusion protein that combines the IL-2 receptor binding domain with diphtheria toxin fragments to target cancer cells.
Citius Oncology is a subsidiary of Citius Pharmaceuticals, which owns 84% of the oncology-focused company. The information in this article is based on a company press release statement.
In other recent news, Citius Oncology, Inc. has entered into a distribution services agreement with Cencora to support the commercial launch of its FDA-approved immunotherapy, LYMPHIR. This agreement designates Cencora as a wholesale distributor for LYMPHIR, which received FDA approval in August 2024 for treating certain types of lymphoma. In a separate development, Citius Pharmaceuticals, Inc. has announced changes to its corporate structure, including the redemption of its one share of Series A Preferred Stock for $100. Additionally, the company has amended its Articles of Incorporation to significantly increase its authorized shares from 26 million to 260 million. This includes a rise in authorized common shares from 16 million to 250 million. The amendment was approved by stockholders and took effect immediately upon filing with the Nevada Secretary of State. These developments mark important steps for the company in expanding its market reach and corporate structure.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.