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Clarus Therapeutics Holdings, Inc. (CRXT) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

Clarus Therapeutics Holdings, Inc.

CIK: 1817944 Ticker: CRXT

Exhibit 99.1

 

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Clarus Therapeutics Reports Fourth Quarter and Full Year 2021 Financial and Operating Results

2021 net revenue increased 119% year-over-year to $14.0 million

Fourth quarter 2021 net revenue increased 88% year-over-year to $4.6 million

Fourth quarter 2021 total prescription growth for JATENZO® increased 11% sequentially and increased 81% year-over-year

Conference call and webcast today at 5:15 p.m. ET

NORTHBROOK, Ill.—March 30, 2022—Clarus Therapeutics Holdings, Inc. (Clarus) (Nasdaq:CRXT), a pharmaceutical company dedicated to providing solutions to unmet medical needs by advancing androgen and metabolic therapies for men and women, today reported financial results for the fourth quarter and full year of 2021.

“Clarus delivered solid growth in net revenue as a new public company driven by continued demand for JATENZO,” said Dr. Robert Dudley, President and Chief Executive Officer of Clarus. “We also significantly expanded payer access coverage for JATENZO as payers recognized its value and innovation for treatment of appropriate hypogonadal men. In February, we launched our new online patient portal, partnering with Vault Health and AssistRx, leaders in providing healthcare services to patients. We believe our commitment to serve patients through these partnerships will enhance overall patient experiences and positively impact JATENZO sales. We are excited that JATENZO continues to perform well in the market. We continue to explore various financing and strategic options to maximize stockholder value. We thank our stockholders for their continued support and our employees for their dedication and hard work.”

Recent Business Highlights

 

   

Total prescriptions continued to grow for JATENZO in the fourth quarter of 2021 with an increase of 11% sequentially and 81% year-over-year driven primarily by advertising and promotion and an increase in payer coverage across all payer channels

 

   

Two new patents for JATENZO issued in November 2021

 

   

Closed a $15 million private placement with a leading healthcare investor in December 2021, the proceeds of which support the ongoing commercialization of JATENZO

 

   

Appointed Dr. Zhanna Jumadilova as Chief Clinical Development Officer in January 2022


The following information was filed by Clarus Therapeutics Holdings, Inc. (CRXT) on Wednesday, March 30, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Clarus Therapeutics Holdings, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside Clarus Therapeutics Holdings, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Consolidated Statements Of Redeemable Convertible Preferred Stock And Stockholders' Deficit
Accounting Policies, By Policy (Policies)
Accrued Expenses
Accrued Expenses (Details) - Schedule Of Accrued Expenses
Accrued Expenses (Tables)
Business Combination
Business Combination (Details)
Business Combination (Tables)
Business Combination - Summary Of Common Stock Issued In Consummation Of Business Combination (Details)
Business Combination - Summary Of Impact Of The Transaction On The Condensed Consolidated Statement Of Stockholder's Equity (Details)
Business Combination - Summary Of Net Proceeds From The Business Combination (Details)
Commitments &Amp; Contingencies
Commitments &Amp; Contingencies (Details)
Debt
Debt (Details)
Debt (Details) - Schedule Of Carrying Value Convertible Notes Consisted
Debt (Details) - Schedule Of Future Principal Payments Of The Senior Secured Notes
Debt (Details) - Schedule Of Senior Secured Notes
Debt (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Details) - Schedule Of Changes In The Fair Value Of The Company's Warrant Liability
Fair Value Measurements (Details) - Schedule Of Fair Value Hierarchy
Fair Value Measurements (Tables)
Fair Value Measurements - Schedule Of Simulation Model For The Private Placement Warrants And Public Warrants (Details)
Income Taxes
Income Taxes (Details)
Income Taxes (Details) - Schedule Of Company's Valuation Allowance
Income Taxes (Details) - Schedule Of Effective Income Tax Rate
Income Taxes (Details) - Schedule Of Net Deferred Tax Assets
Income Taxes (Tables)
Inventory
Inventory (Details) - Schedule Of Inventory
Inventory (Tables)
License Agreements
License Agreements (Details)
Net Income (Loss) Per Share
Net Income (Loss) Per Share (Details) - Schedule Of Basic And Diluted Earnings (Loss) Per Share Attributable To Common Stockholders
Net Income (Loss) Per Share (Details) - Schedule Of Basic And Diluted Earnings (Loss) Per Share Attributable To Common Stockholders (Parenthetical)
Net Income (Loss) Per Share (Details) - Schedule Of Computation Of Diluted Net Loss Per Share Attributable To Common Stockholders
Net Income (Loss) Per Share (Tables)
Organization And Description Of Business Operations
Organization And Description Of Business Operations (Detail)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment, Net (Details)
Property And Equipment, Net (Details) - Schedule Of Property And Equipment
Related Party Transactions
Related Party Transactions (Details)
Stock Based Compensation
Stock Based Compensation (Details)
Stock Based Compensation (Details) - Schedule Of Stock Option Activity Under The Plans
Stock Based Compensation (Details) - Schedule Of Stock-Based Compensation Expense
Stock Based Compensation (Tables)
Stock Based Compensation - Summary Of Restricted Common Stock Activity (Detail)
Stock-Based Compensation (Details) - Schedule Of Weighted-Average Assumptions
Stockholders' Equity (Deficit)
Stockholders' Equity (Deficit) (Details)
Stockholders' Equity (Deficit) (Tables)
Stockholders' Equity (Deficit)- Schedule Of Redeemable Convertible Preferred Stock (Detail)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Details) - Summary Of The Deferred Revenue Contract Liability (Detail)
Summary Of Significant Accounting Policies (Details)- Property And Equipment, Net
Summary Of Significant Accounting Policies (Tables)
Ticker: CRXT
CIK: 1817944
Form Type: 10-K Annual Report
Accession Number: 0001193125-22-092120
Submitted to the SEC: Thu Mar 31 2022 5:31:35 PM EST
Accepted by the SEC: Thu Mar 31 2022
Period: Friday, December 31, 2021
Industry: Biological Products No Disgnostic Substances

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