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Debt Financing / Related, Layoffs, Restructuring / Reorganization

Clarus Therapeutics Reports Q2 2022 Results And Announces Workforce Reduction

Published: 08/18/2022 20:21 GMT
(CRXT) - Clarus Therapeutics Reports Second Quarter 2022 Financial and Operating Results and Announces Workforce Reduction.
Clarus Therapeutics Holdings Inc - Immediate Reduction in Workforce by Approximately 40% of Total Headcount; Transition of Chief Financial Officer Role.
Clarus Therapeutics Holdings Inc - Ric Peterson is Transitioning Out of His Role As Chief Financial Officer.
Clarus Therapeutics Holdings Inc - Steve Bourne, Will Become Clarus' Chief Financial Officer.
Clarus Therapeutics Holdings Inc - As of June 30, 2022, Clarus Had Cash and Cash Equivalents of $19.2 Million.
Clarus Therapeutics - Believes Existing Cash, Cash Equivalents With Revenue Generated From Sales of Jatenzo, Will Fund Current Operating & Capex Needs to Sept 2022.
Clarus- If Not Able to Restructure Our Indebtedness & Obtain Necessary Capital, May Be Required to Discontinue Commercialization Efforts for Jatenzo.
Clarus - May Be Required to Liquidate All Or a Portion of Our Assets &/or Seek Protection Under Provisions of U.S. Bankruptcy Code.
Clarus Therapeutics Holdings Inc - Financial Matters Raise Substantial Doubt About Our Ability to Continue As a Going Concern.
Clarus Therapeutics Holdings Inc Q2 Loss per Share $0.24.