Clarus Therapeutics Holdings, Inc. (CRXT) is a biotherapeutics firm engaged in the development of androgen and metabolic therapeutics for both the sex. The company develops potential therapies for orphan indications. Its initial commercial-scale product is testosterone undecanoate or JATENZO.
The price of CRXT stock during the regular trading on February 25, 2022, was $0.94 with a decline of 3.83%. At last check in the aftermarket, the stock surged by 4.03%.
CRXT: Events and Happenings
On February 25, 2022, CRXT reported multiple filings including unscheduled material events or corporate events and Form 424B3 with the Securities and Exchange Commission. On February 24, 2022, CRXT reported the collaboration with Vault Health. It is a novel healthcare company trying to bring clinical care to the homes of people. The company also updated the unveiling of its patient access portfolio for JATENZO capsules, reinforced by AssistRx’s fulfillment and access solution, CoAssist, which streamlined the prescription procedure for healthcare providers.
On December 07, 2021, CRXT updated on the completion of its definitive contract to sell securities with an institutional investor in a private placement. The company’s net proceeds resulting from the private placement were up to $15 million. On November 30, 2021, CRXT announced the issuance of two patents for claims that cover the company’s product, JATENZO by the United States Patent and Trademark Office.
CRXT: Key Financials
On November 18, 2021, CRXT released its unaudited financial statement for Q3 2021 ended September 30, 2021. Some of the key points are discussed below.
Revenue
Total revenue in the third quarter of 2021 was $4.3 million compared to $2.2 million in the same year-ago period. The company observed an increase of 92.7% in total revenue year-over-year. The company beat the analysts’ revenue estimates by $1.22 million.
EPS
Net loss basic and diluted per share in the third quarter of 2021 was $2.8 million or $0.26 in comparison to net income of $5.4 million or $0.63 (net loss per share) in the same quarter of 2020. The company topped the analysts’ estimates of EPS target by $0.48.
Conclusion
CRXT stock is at a new low of 86% in the past six months as the global economy was tumbling as a result of the pandemic. The company also reported a surge in its stock price in aftermarket trading as a result of multiple SEC filings with the SEC. Although the company didn’t announce the earnings release date for the upcoming quarter, the analysts expect the revenue of 4.64 million against EPS -$0.70.
