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Clarus Therapeutics Holdings (CRXT) announced a definitive agreement for a private placement, aiming to raise approximately $15 million to support the commercialization of its testosterone replacement product, JATENZO. The placement involves issuing 3,024,194 units at $4.96 each, with warrants exercisable at $5.25 per share. The private placement is expected to close by December 7, 2021. The proceeds will bolster growth initiatives for JATENZO, addressing unmet medical needs in testosterone therapy.
Clarus Therapeutics Holdings announced the issuance of two new patents for its oral testosterone replacement therapy, JATENZO, enhancing its patent portfolio and bringing the total number of Orange Book-listed patents to seven. The new patents, 11,179,403 and 11,179,402, extend protection until 2030 and 2026 respectively. This reinforces the intellectual property for JATENZO, which addresses male hypogonadism affecting around 20 million men in the U.S. The patents aim to bolster life cycle management strategies of JATENZO.
Clarus Therapeutics Holdings reported a 93% increase in third quarter revenue, reaching $4.3 million compared to $2.2 million the previous year. Prescription growth for JATENZO® rose 12% sequentially and 132% year-over-year. The company achieved milestones like settling patent litigation with Lipocine and securing licensing agreements with McGill University and HavaH Therapeutics. However, the net loss widened to $2.8 million from a net income of $5.4 million in the prior year. Operating expenses decreased by 7.6%, while cash holdings were $22 million as of September 30, 2021.
Clarus Therapeutics Holdings, Inc. (Nasdaq:CRXT) announced it will release its third quarter 2021 financial and operating results on November 18, 2021, after market close. A conference call will follow at 5:15 p.m. ET to discuss these results. Domestic callers can dial (844) 249-2007, while international callers should use (224) 619-3902; the conference ID is 1354439. The call will also be available as a live webcast on the company's Investors section.
Clarus Therapeutics has received two notices of allowance from the USPTO for patents related to its oral testosterone product, JATENZO® (testosterone undecanoate). These patents, expected to expire in 2030 and 2026, will enhance JATENZO's intellectual property portfolio, bringing the total number of patents to seven. JATENZO is the first FDA-approved oral softgel for testosterone replacement therapy in men with testosterone deficiency due to specific medical conditions, affecting an estimated 20 million men in the U.S.
Clarus Therapeutics Holdings, Inc. (Nasdaq:CRXT) announced new real-world data for JATENZO® (testosterone undecanoate), the first FDA-approved oral testosterone replacement therapy for adult males with testosterone deficiency. This data will be presented at the 22nd Annual Fall Scientific Meeting of the Sexual Medicine Society of North America from October 21-24, 2021. An estimated 20 million men in the U.S. have male hypogonadism, a condition impacting testosterone production, with JATENZO as a therapeutic option. The abstract presentation is scheduled for October 21, 2021, at 4:20 PM MST.
Clarus Therapeutics Holdings, Inc. (Nasdaq:CRXT) is set to present at the 2021 Cantor Virtual Global Healthcare Conference on September 27, 2021, at 10:40 a.m. ET. The presentation will focus on the company's commitment to addressing unmet medical needs through androgen and metabolic therapies. Investors can access the live webcast via the Investors section of the Clarus Therapeutics website, with an archived version available for 90 days post-presentation. Clarus's flagship product is JATENZO®, aimed at providing innovative solutions.
Clarus Therapeutics (CRXT) has entered a licensing agreement with McGill University to develop treatments for mitochondrial diseases related to CoQ10 deficiencies. Clarus will pay $350,000 upfront, with potential milestone payments totaling up to $10.5 million. This collaboration aims to address significant medical needs, as CoQ10 deficiencies can lead to severe organ dysfunctions. McGill’s technology could enhance the effectiveness of CoQ10 uptake, offering hope for innovative therapies in a medical area with limited options for treatment.
Clarus Therapeutics Holdings announced its participation in the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit on September 20, 2021, at 2:05 p.m. ET. The virtual presentation will be accessible via the Investors section of its website, with an archived version available for 90 days post-event. Clarus focuses on advancing androgen and metabolic therapies for both men and women, and its first product, JATENZO®, targets unmet medical needs. For further details, visit Clarus Therapeutics’ official website.
The business combination between Clarus Therapeutics and Blue Water Acquisition Corp was completed on September 9, 2021, leading to the formation of Clarus Therapeutics Holdings, Inc. The company will trade on the Nasdaq Global Market under the ticker symbols CRXT and CRXTW starting September 10, 2021. This merger generated gross proceeds of approximately $25.3 million, supporting the commercialization of JATENZO® and the development of new therapies. The management team, including Dr. Robert Dudley, will continue to lead the company post-merger.
