Crescita Therapeutics Inc. (OTCMKTS:CRRTF) is up 13% in a month. The commercial dermatology firm has signed a supply and comm3ercia agreement with a top generic pharmaceutical company, Egis Pharmaceuticals PLC.
Trading Data
On Monday, CRRTF stock ended flat at $0.4523 with more 30 shares, compared to its average volume of 3.4K shares. The stock has moved within a range of $0.7550 – 0.7588 after opening trade at $0.7550.
Crescita Signs Exclusive 8-Country Licensing Agreement with Egis Pharmaceuticals for Pliaglis®
The agreement is for Pligalis rights across eight countries in Central Eastern Europe, including Bulgaria, Hungary, Czech Republic, Poland, Slovakia, Latvia, Lithuania, and Russia. According to the terms of the agreement, Egis will pay Crescita an upfront payment of CD$0.94 million, and Crescita will be eligible for regulatory and cumulate sales milestone payments.
Following the signing of the agreement, Egis will offer Pliaglis across Central Eastern Europe and Russia via its commercial infrastructure. Notably, Crescita will be the main Pliaglis supplier at a predefined price and will also offer regulatory support in other territories where Egis might seek approval. In addition, Egis will launch Pliaglis in Poland in 2023 and submit necessary regulatory filings soon to ensure the launch of Pliaglis in other territories. So, in the coming weeks, investors should watch CRRTF.
Key Quote
“We are extremely pleased to partner with Egis. With its commitment to innovation, strong international presence and robust sales network, Egis represents a partner of choice in these Territories,” said Serge Verreault, President and CEO of Crescita. “Yet again, we have further expanded the footprint of Pliaglis worldwide, where it is now licensed in a total of 40 countries. Pliaglis is a pivotal asset for Crescita and is key to helping unlock the long-term value of our company. We look forward to a strong collaboration with Egis as we continue to secure recurring revenue streams,” added Mr. Verreault.
Technical Data
CRRTF stock is trading in the neutral zone with RSI at 39. The stock has pivot supports at 0.4484, 0.4497, 0.4510 and resistances at 0.4536, 0.4549, 0.4562. The stock is up 13% in the past year.
