Clarus Therapeutics Holdings, Inc. (CRXT) saw a decrease of 14.46% in the aftermarket. However, the last trading session closed at $5.74 with an incline of 42.96%.
Third Quarter 2021 Results Revealed by CRXT!
CRXT reported third-quarter 2021 results on 18th November 2021. The report issued by the company says that total sales climbed to $4.3 million in the third quarter of 2021. Moreover, the total sales came out to be $9.4 million for the nine months ending September 30, 2021, and the gross margin for the third quarter of 2021 was 88.1 percent, compared to 88.4 percent the previous year.
Research and development expenses of CRXT in the third quarter of 2021 fell by 11.3 percent to $1.3 million from $1.4 million the previous year. This hints towards the lower consultancy costs offset by higher licensing revenues. Clinical expenditures linked with principal commercial asset and license payments grew 9.8% to $3.1 million. Lastly, the company reported a net loss of $36.3 million, compared to a net loss of $4.1 million for the same period the previous year.
Now what?
The company has reached several great milestones this quarter. With excellent feedback from both patients and clinicians, JATENZO continues to expand in prescriptions. CRXT is still excited and hopeful as the team works to spread the word about JATENZO. It is the only FDA-approved oral softgel with variable dosage choices in the testosterone replacement treatment market, by educating doctors and patients about its benefits.
In September, CRXT also announced the inclusion of a novel technology licensed from McGill University. It will potentially treat uncommon illnesses related to CoQ10 deficits to our internal pipeline. This indicates that CRXT is continuing to diversify and develop its internal pipeline.
Exclusive Licensing Agreement by CRXT – Is there any update?
CRXT announced on 16th September 2021 that it has signed an agreement to produce and market McGill’s patented technology developed to treat illnesses related to CoQ10 deficiency in humans. The inner membrane of mitochondria, a cellular organelle whose primary purpose is to provide chemical energy for the body, produces CoQ10.
Moreover, CoQ10 deficiency can cause serious problems with the brain, nerves, kidneys, heart, GI tract, and muscles. Because oral CoQ10 does not promote intracellular CoQ10 uptake, it is mainly useless. Last but not the least, McGill has discovered a way to significantly boost this intake.
What’s up?
This cooperation with McGill broadens CRXT’s emphasis beyond androgen-based therapies to a metabolic therapy for CoQ10 deficits. Knowing the potential significance of McGill’s finding in addressing this critical, unmet medical need is a fantastic opportunity, and the company is eager to get started.
