Welcome to our dedicated page for Crescita Therape news (Ticker: CRRTF), a resource for investors and traders seeking the latest updates and insights on Crescita Therape stock.
Crescita Therapeutics Inc. (CRRTF) is a biotechnology leader focused on developing innovative therapeutic solutions through advanced research and strategic collaborations. This page serves as a centralized hub for all official company announcements, regulatory updates, and progress in drug development.
Investors and industry professionals will find timely updates on clinical trial milestones, partnership agreements, and R&D advancements. Our curated collection ensures transparent access to Crescita's latest developments in pharmaceutical innovation, including licensing deals and regulatory submissions.
Key updates include progress in therapeutic pipelines, intellectual property developments, and financial performance reports. Bookmark this page to stay informed about Crescita's contributions to biotechnology and its evolving position in global healthcare markets.
Crescita Therapeutics Inc. (TSX: CTX, OTC US: CRRTF) has secured a contract manufacturing agreement worth US$10 million over 4 years with its largest CMO client, a global skin care company. The agreement, starting in 2025, involves manufacturing selected products from the client's largest franchises, with a minimum commitment of US$2.5 million per year. This deal addresses the uncertainty in Crescita's CMO pipeline announced in November 2023.
Key points:
- The client will reimburse Crescita up to US$1.2 million for unused inventory
- Crescita will invest approximately $0.8 million to upgrade its manufacturing facility
- Technology transfer for new products is expected to be completed by year-end
This agreement strengthens Crescita's position as a preferred supplier and is expected to contribute significantly to achieving and sustaining profitability.
Crescita Therapeutics Inc. (TSX: CTX, OTC US: CRRTF) has signed an exclusive 5-year Manufacturing and Supply Agreement with a leading Canadian healthcare services provider. The agreement covers the supply of sanitary products, including hand sanitizer, soap, and lotions, for distribution to publicly funded healthcare organizations. Key points:
- Initial 5-year term with a 3-year renewal option
- No minimum order quantities specified
- Potential annual revenue up to $6.0 million by the end of the initial term
- Crescita's revenue depends on the client's ability to convert Buying Group Members
- Crescita will support the client in developing the public sector healthcare market through competitive bidding
This partnership positions Crescita as an exclusive supplier for a multi-year, multi-jurisdiction project in the Canadian pharmaceutical industry.
Crescita Therapeutics Inc. (TSX: CTX, OTC US: CRRTF) has signed an exclusive distribution agreement with NanoPass Technologies to launch and distribute MicronJetTM600 in the Canadian medical aesthetics market. MicronJet is an innovative intradermal injection device that offers highly effective, consistent, and virtually pain-free delivery of aesthetic products and therapeutic substances.
Key features of MicronJet include:
- Three 0.6mm silicon crystal-made delivery pyramids
- Compatibility with standard syringes
- Precise intradermal delivery for delicate areas
- CE marked, U.S. FDA cleared, and ISO 13485 certified
Crescita aims to obtain Health Canada regulatory approval and launch the product in the first half of 2025. This addition aligns with Crescita's strategic vision to become a leading player in the Canadian medical aesthetics market.
Crescita Therapeutics has finalized the acquisition of significant business assets from Occy Laboratory, including manufacturing equipment, inventory, customer networks, and intellectual property. The transaction, valued at $0.9 million, was approved by the Québec Superior Court following voluntary proceedings under the Bankruptcy and Insolvency Act. Occy Laboratory's revenue for the most recent fiscal year was approximately $1.5 million. Crescita anticipates that the acquisition will be accretive to EBITDA post-integration, aiming to accelerate growth and enhance profitability by continuing Occy’s commercial activities.
Crescita Therapeutics has announced its intention to acquire the non-real estate business assets of Occy Laboratory. This acquisition, part of Occy's voluntary bankruptcy proceedings, includes manufacturing equipment, inventory, a customer network, and intellectual property. The transaction aims to enhance Crescita's position in the Canadian skincare market by expanding its product portfolio and client base. The addition of Occy's Aquafolia product line, known for its natural anti-aging biotechnologies, is expected to complement Crescita's existing offerings and drive future growth. The deal received approval from the Québec Superior Court and is anticipated to close soon.
Crescita Therapeutics announced the results from its Annual General and Special Meeting of Shareholders held on June 5, 2024, in Laval, Quebec. Key outcomes included the election of directors with strong support ranging from 98.3% to 99.9% approval. Daniel N. Chicoine, Anthony E. Dobranowski, John C. London, Deborah Shannon-Trudeau, and Serge Verreault were elected as directors. Ernst & Young LLP was reappointed as the external auditor with 98.0% approval. The company's Share Incentive Plan was also approved with 98.9% votes in favor.
Crescita Therapeutics Inc. reported its financial results for the first quarter of 2024, showing an increase in revenue to $4,996 compared to $4,602 in Q1-2023. However, gross profit decreased to $2,411 from $2,736, and Adjusted EBITDA fell to $(325) from $161. The Company is focusing on the Skincare segment, launching new products and expanding internationally.
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