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 (TSX: CTX, OTC: CRRTF) reported its Q4 and fiscal 2024 financial results. Q4-2024 revenue increased to $6,902K from $4,725K, while recording a net loss of $(162K). For fiscal 2024, revenue grew to $19,580K from $17,522K, with a net loss of $(2,750K).
Key developments include: a new U.S. distribution agreement for Pliaglis with IPG Pharmaceuticals; a US$10M four-year manufacturing contract; an exclusive manufacturing agreement for sanitary products with potential annual revenue of $6M; and the acquisition of Occy Laboratoire's assets for $0.9M. The company maintained a strong cash position of $9.3M despite deploying over $2.0M for strategic acquisitions and equipment upgrades.
The company also initiated a Normal Course Issuer Bid to purchase up to 1,478,854 common shares and secured an exclusive distribution agreement with NanoPass Technologies for MicronJet in the Canadian medical aesthetics market.
Crescita Therapeutics reported Q3-2024 financial results with revenue of $3,594, up 18.5% from $3,033 in Q3-2023. The company saw improvements in net loss to $(1,036) from $(1,282) and Adjusted EBITDA to $(681) from $(988). Key developments include signing a US$10M four-year manufacturing agreement, securing an exclusive distribution agreement for MicronJet™600, and completing the acquisition of Occy Laboratoire assets. The company's cash position ended at $8,438, down $574 for the quarter.
Revenue growth was driven by the Skincare segment and higher Licensing revenue from Pliaglis® international launches. The company continues to prioritize securing a new U.S. partner for Pliaglis while focusing on manufacturing segment improvement.
Crescita Therapeutics Inc. (TSX: CTX, OTC US: CRRTF) has announced TSX approval for a new normal course issuer bid (NCIB). The company can purchase up to 1,478,854 common shares for cancellation, representing about 10% of its public float. Crescita believes the current market price may not reflect the company's underlying value and views share repurchases as a potential good use of funds.
Key details of the NCIB include:
- Daily purchase limit: 3,682 shares (25% of average daily trading volume)
- NCIB period: September 27, 2024 to September 26, 2025
- Purchases through TSX or Canadian alternative trading systems
- All purchased shares will be cancelled
Crescita has also entered an automatic securities purchase plan for the NCIB. In its previous NCIB (Aug 31, 2023 - Aug 30, 2024), the company bought 1,188,017 shares at an average price of $0.53.
Crescita Therapeutics Inc. (TSX: CTX, OTC US: CRRTF), a Canadian commercial dermatology company, will be presenting at the Planet MicroCap Showcase: VANCOUVER 2024 on Thursday, September 26, 2024, at 1:00 PM PST. CEO Serge Verreault will host the presentation and answer questions.
The event, held in association with Small Cap Discoveries, will take place at the Fairmont Waterfront Vancouver. Investors can access the live presentation via webcast and book 1x1 meetings with Crescita representatives. Registration is required for attendance and meeting scheduling.
This showcase provides Crescita an opportunity to connect with investors and showcase its growth-oriented, innovation-driven business model in the dermatology sector. For those unable to attend live, webcasts of company presentations will be available on the conference platform.
Crescita Therapeutics Inc. (TSX: CTX, OTC US: CRRTF) reported Q2-2024 financial results. Revenue decreased to $4,088 from $5,162 in Q2-2023, while gross profit declined to $2,235 from $3,069. Operating expenses remained stable at $3,279. The company secured a US$10 million manufacturing contract over 4 years and completed a strategic asset acquisition.
Key developments include:
- Amendment to contract manufacturer supply agreement
- Exclusive manufacturing deal with Canadian healthcare provider
- Distribution agreement for MicronJet™ intradermal injection device
- Acquisition of Occy Laboratoire assets for $0.9 million
Despite challenges in the Manufacturing segment, the Skincare business grew 10.7% year-over-year. The company maintains a strong cash position of $9,012, enabling investments for long-term value creation.
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.
