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Clarus Therapeutics Holdings, Inc. (CRXT) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

Clarus Therapeutics Holdings, Inc.

CIK: 1817944 Ticker: CRXT

Exhibit 99.1

 

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Clarus Therapeutics Reports First Quarter 2022 Financial and Operating Results

First quarter 2022 net revenue increased 72% year-over-year to $4.0 million

First quarter 2022 total prescription growth for JATENZO® increased 12% sequentially and increased 75% year-over-year

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

NORTHBROOK, Ill.—May 16, 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 first quarter of 2022.

“We delivered a strong first quarter, as the total number of prescriptions written for JATENZO continued to increase,” said Dr. Robert Dudley, President and Chief Executive Officer of Clarus. “With the closing of our recent upsized $30 million underwritten public offering, we intend to continue our strategic marketing initiatives designed to increase awareness about JATENZO and fuel its further growth. We are excited about additional patent coverage for JATENZO and new patent coverage for CLAR-121, as we recently received a notice of allowance for each. We also applied for Orphan Drug Designation for CLAR-121. Our focus remains on driving long-term stockholder value as we accomplish our business objectives. We thank our employees for their commitment to excellence and our stockholders for their loyalty during these extraordinary times.”

Recent Business Highlights

 

   

Increased total prescriptions for JATENZO in the first quarter of 2022 sequentially and year over year by 12% and 75%, respectively, compared to the fourth quarter of 2021 and first quarter of 2021, driven primarily by advertising and promotion and an increase in payer coverage across all payer channels

 

   

Presented new data for JATENZO at the Androgen Society 4th Annual Meeting and at the 2022 American Urological Association Annual Meeting

 

   

Received a notice of allowance from the U.S. Patent and Trademark Office (USPTO) for patent claims covering JATENZO; once issued, this will be the eighth patent for JATENZO to be listed in the U.S. Food and Drug Administration’s (FDA’s) Orange Book

 

   

Received a notice of allowance from the USPTO for patent claims covering CLAR-121, a proprietary combination of testosterone and anastrozole delivered by a subcutaneous implant for the treatment of androgen receptor-mediated inflammatory breast disease that predominantly affects women


The following information was filed by Clarus Therapeutics Holdings, Inc. (CRXT) on Monday, May 16, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Inside Clarus Therapeutics Holdings, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parentheticals)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Operations
Condensed 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 Net Proceeds From The Business Combination (Details)
Commitments &Amp; Contingencies
Commitments &Amp; Contingencies (Details)
Debt
Debt (Details)
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 Warrant Liabilities (Details)
Income Taxes
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 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)
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)
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 (Tables)

Material Contracts, Statements, Certifications & more

Clarus Therapeutics Holdings, Inc. provided additional information to their SEC Filing as exhibits

Ticker: CRXT
CIK: 1817944
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-22-152016
Submitted to the SEC: Mon May 16 2022 5:16:29 PM EST
Accepted by the SEC: Mon May 16 2022
Period: Thursday, March 31, 2022
Industry: Biological Products No Disgnostic Substances

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