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. reports developments as a Canadian commercial dermatology company with in-house R&D and manufacturing capabilities. The company commercializes branded non-prescription skincare products, sells other brands under exclusive distribution agreements, licenses intellectual property related to Pliaglis®, and provides contract manufacturing and product development services.
Company news commonly covers operating and financial results across its Commercial Skincare, Licensing and Royalties, and Manufacturing and Services segments. Updates also include material agreements, licensing rights, product and regulatory disclosures, acquisitions of dermatology or skincare assets, normal course share repurchases, and shareholder voting matters such as board elections and shareholder-rights-plan approvals.
Crescita Therapeutics (TSX: CTX, OTC US: CRRTF) has announced an exclusive distribution agreement with Obagi Cosmeceuticals to market the Obagi Medical product line in Canada. This partnership aims to leverage Crescita's established network to promote innovative skincare solutions targeting aging, hyperpigmentation, and skin texture improvement. Both companies express optimism about the collaboration, highlighting Crescita's strong reputation in the Canadian aesthetic market and Obagi's extensive global presence.
Crescita Therapeutics Inc. (CRRTF) has acquired a minority interest in Akyucorp Ltd. d/b/a The Best You, which operates six medical aesthetic clinics in Ontario. This investment involves issuing 470,128 common shares at $0.70 each. Additionally, Crescita will provide a secured convertible promissory note of up to C$1.25M to support The Best You's growth. This partnership aims to enhance sales of Crescita’s aesthetic brands, capitalize on the growing medical aesthetics market, and gain valuable consumer insights, ultimately driving future product development.
Crescita Therapeutics Inc. (OTC US: CRRTF) has entered into an exclusive commercialization agreement with STADA MENA for its topical anesthetic cream, Pliaglis®, in 15 countries across the Middle East and North Africa (MENA). This partnership allows STADA to commercialize Pliaglis while Crescita will supply the product and provide regulatory support. The agreement marks Crescita's success in licensing Pliaglis in 32 countries, with expectations of increased recurring revenue starting in 2024. Pliaglis, a lidocaine and tetracaine combination, offers effective local analgesia for dermatological procedures.
Crescita Therapeutics has entered into an exclusive licensing agreement with Croma Pharma for the commercialization of Pliaglis® across nine countries, including Germany and the UK. This deal allows Crescita to receive up to €1.25 million in payments and positions it as the sole supplier of Pliaglis, expected to launch in 2022. The partnership aims to expand Crescita's global presence and enhance revenue from the growing aesthetic procedure market.
Crescita Therapeutics Inc. (CRRTF) held its 2021 Annual General and Special Meeting in Laval, Québec, where shareholders voted on key matters. All nominated directors were elected with significant support: Daniel N. Chicoine (86.9%), David A. Copeland (96.5%), Anthony E. Dobranowski (94.8%), John C. London (96.5%), and Thomas Schlader (94.7%). Ernst & Young was reappointed as external auditors with 89.1% approval. Furthermore, Crescita's Share Incentive Plan was approved with 84.7% support. The company remains focused on delivering innovative dermatology solutions.
Crescita Therapeutics reported Q1-F2021 results with revenue at $3,265, down from $3,815 in Q1-F2020, marking a $550 decline. Gross profit also fell to $2,116 from $2,464, a decrease of $348. Operating expenses dropped to $2,413 from $2,825, resulting in an adjusted EBITDA of $87 compared to $112, a $25 decrease. However, cash reserves improved significantly from $9,334 to $13,944. The company launched NCTF for skin revitalization in April, and received a U.S. patent for CTX-102 with protection until 2040, which could aid future projects.
Crescita Therapeutics Inc. (OTC US: CRRTF) announces that its President and CEO, Serge Verreault, will present at the Bloom Burton & Co. Healthcare Investor Conference on April 20, 2021, at 9:30 AM EST. He will discuss important business highlights and the company’s growth strategy. The conference, focusing on the Canadian healthcare sector, allows investors to interact with major companies. One-on-one meetings with Crescita’s management team will also be available during the event. For registration, click HERE.