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Tag: CRXT

  • Clarus Therapeutics Holdings Inc. (CRXT) Rebounds After Plunging over 55% on Equity Offering

    On April 25, Clarus Therapeutics Holdings Inc. (CRXT) priced an upsized underwritten public offering of its common stock, and warrants. The news had the stock tumble down with an immense loss surpassing 56% in regular trading. Subsequently, CRXT rebounded in the after-hours to trade at $0.8400 following its earlier close at $0.7889 a share. Thus, the stock recovered 6.48% in the after-hours while 1.5 million shares exchanged hands.

    Source: Winbush & Associates

    CRXT’s Equity Offering

    The latest equity offering of the company consists of units having 26,680,720 common stock shares and accompanying Class A warrants. The underwritten public offering further consists of units that have pre-funded warrants to buy 590,000 common stock shares and accompanying Class A warrants. Moreover, the combined offering price of each of the common stock (or pre-funded warrant) together with a Class A warrant is $1.10 per unit while the exercise price of the pre-funded warrant is $0.001.

    Furthermore, CRXT also allotted an option to buy up to an additional 4,090,608 common shares and/or Class A warrants, to the underwriters. Excluding the proceeds from the exercise of any Class A warrants and overallotment option, the offering is expected to result in gross proceeds of $30.0 million. The company plans to use the net proceeds for working capital and general corporate purposes.

    Additionally, the expected close of the offering with Maxim Group LLC as book-running manager is on April 27, 2022.

    Penny Stocks & CRXT

    While conservative investors stay away from penny stocks due to high volatility and risks, those confident have penny stocks under their radar. Among the most trending stocks below the $5 price level has been CRXT in the past few weeks. Investors had the stock rally big after the company announced a huge YOY improvement in its latest earnings and then positive data for its drug. While the equity offering caused a drop in the stock, it is still trending at an active volume and has once again entered a bullish course.

    Following the big dip in the stock, it seems investors are now gladly buying CRXT to make some more profits from the active penny stock.

    Conclusion

    Being one of the most trending penny stocks, CRXT has been surging lately while the equity offering caused a drop in its price. But luckily investors are not done with the stock yet as it entered the green once again when they began buying the latest dip.

  • Clarus Therapeutics Holdings, Inc. (CRXT) Stock Rising in Afterhours, Here’s why.

    Clarus Therapeutics Holdings, Inc. (CRXT) Stock Rising in Afterhours, Here’s why.

    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.