CRESCITA THERAPEUTICS ORD - CRRTF STOCK NEWS

Crescita Therapeutics Inc. reported financial results for Q4-2023 and F2023, with revenue and gross profit decreasing compared to the previous year. The company's adjusted EBITDA also declined significantly. Despite challenges in the manufacturing segment, the skincare business showed growth and new partnerships are being pursued.

Crescita Therapeutics Inc. (TSX: CTX and OTC US: CRRTF) reported Q3-2023 financial results, including a revenue decrease of $2,999, termination of an agreement with Taro Pharmaceuticals, and a decrease in manufacturing revenue. The company also announced a normal course issuer bid and the relaunch of Alyria as a direct-to-consumer brand. Despite challenges, the skincare business saw a 44% increase in revenue, and ART FILLER is gaining momentum in the Canadian market.

Crescita Therapeutics approved for normal course issuer bid to purchase up to 10% of its public float, management believes current market price may not reflect underlying value of the company.

Crescita Therapeutics (CRRTF) reported a record annual revenue of $23.5M for fiscal year 2022, a 40% increase from 2021. Adjusted EBITDA rose by 138% to $2.2M. In Q4 2022, revenue was $6.03M, a 20% decline from Q4 2021, primarily due to lower licensing revenues. However, gross profit for the year grew 32% to $13.18M despite a slight decrease in gross margin. Cash reserves fell to $8.23M from $11.33M. The company launched ART FILLER in Q1 2023, aiming to enhance its skincare portfolio. Management highlighted growth in the manufacturing segment and successful product launches.

Crescita Therapeutics reported remarkable financial results for Q3-F2022, with revenue increasing to $6.0M, up from $3.0M in Q3-F2021, driven by a significant boost in manufacturing revenue of $4.3M. The company's Adjusted EBITDA improved to $0.5M, marking a turnaround from a loss of $0.5M the previous year. Additionally, cash reserves stood at $10.7M. The President and CEO, Serge Verreault, highlighted the company’s continued growth with plans to launch ART FILLER® injectables in early 2023. The gross margin slightly declined to 48.7% from 51.0%.