08:50 AM EST, 01/06/2025 (MT Newswires) -- (Corrects spelling of Jefferies in headline)

Citius Pharmaceuticals' ( CTXR ) majority-owned subsidiary Citius Oncology ( CTOR ) said it has retained Jefferies as a financial advisor to evaluate possible strategic alternatives.

The company said alternatives being considered include partnerships, joint ventures, mergers, acquisitions, or licensing but has no specific timeline for a decision.

Citius Oncology ( CTOR ) Chief Executive Leonard Mazur said the "goal is to deliver value to shareholders."

Citius Oncology's ( CTOR ) main product Lymphir was recently approved by the US Food and Drug Administration for the treatment of relapsed or refractory Stage I-III cutaneous T-cell lymphoma following at least one prior systemic therapy.

Citius Oncology ( CTOR ) shares were up more than 6% and Citius Pharmaceuticals ( CTXR ) more than 5% in Monday's premarket activity.