Clarus Therapeutics Holdings, Inc. Announces Completion of Auction for Sale of JATENZO® and Selection of Tolmar, Inc. as Successful Bidder
18 Outubro 2022 - 5:05PM
Clarus Therapeutics Holdings, Inc. (Clarus) (OTC: CRXTQ), a
pharmaceutical company dedicated to providing solutions to unmet
medical needs by advancing androgen therapies, announced today
that, subject to entry into definitive documentation, it and its
wholly-owned subsidiary, Clarus Therapeutics, Inc., selected
Tolmar, Inc., (Buffalo Grove, IL) as the winning bidder in a
competitive bidding and auction proceeding for the sale of JATENZO
(and certain related assets). The bidding and auction procedures
were approved by the U. S. Bankruptcy Court for the District of
Delaware [Docket No. 78] and the sale of JATENZO remains subject to
final Bankruptcy Court approval on October 26, 2022.
Additional information about this asset sale, as well as other
documents related to the Chapter 11 proceedings, is available
through Clarus’ claims agent, Stretto, Inc., available at:
https://cases.stretto.com/Clarus. Clarus’ legal counsel is Goodwin
Procter, LLP and Potter Anderson & Corroon LLP, and its
investment banker is Raymond James & Associates, Inc. Lawrence
Perkins of Sierra Constellation Partners, LLC currently serves
Clarus as Chief Restructuring Officer during the Chapter 11
process. Clarus filed the voluntary Chapter 11 petition in the U.S.
Bankruptcy Court for the District of Delaware, Case No. 22-10845
(MFW).
About Clarus Therapeutics Holdings, Inc.
Clarus Therapeutics Holdings, Inc. is a pharmaceutical company
with expertise in developing androgen-based medicines. Clarus
Therapeutics’ first commercial product is JATENZO (testosterone
undecanoate capsules; C-III). For more information, visit
www.clarustherapeutics.com and www.jatenzo.com. Follow Clarus
on Twitter (@Clarus_Thera) and LinkedIn (Clarus
Therapeutics).
Forward-Looking Statements
Certain statements in this press release constitute
“forward-looking statements” for purposes of the federal securities
laws. The words “anticipate,” “believe,” “contemplate,” “continue,”
“could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,”
“possible,” “potential,” “predict,” “project,” “should,” “will,”
“would” and similar expressions may identify forward-looking
statements, but the absence of these words does not mean that a
statement is not forward-looking. Clarus’ forward-looking
statements in this press release include, but are not limited to,
statements about Clarus’ plans to sell all of its assets pursuant
to Chapter 11 of the U.S. Bankruptcy Code; Clarus’ intention to
enter into a definitive documentation for the asset sale; Court
approval of the asset sale and timing thereof among others. These
forward-looking statements are based on current expectations and
beliefs concerning future developments and their potential effects.
There can be no assurance that future developments affecting Clarus
will be those anticipated. These forward-looking statements involve
a number of risks, uncertainties (some of which are beyond Clarus’
control) or other assumptions that may cause actual results or
performance to be materially different from those expressed or
implied by these forward-looking statements. These risks and
uncertainties include, but are not limited to, risks associated
with negotiating a definitive asset purchase agreement, risks
associated with Court approval of the terms and ability to meet the
closing conditions, along with the risks associated with the
potential adverse impact of the Chapter 11 filings on Clarus’
liquidity and results of operations; changes in Clarus’ ability to
meet its financial obligations during the Chapter 11 process and to
maintain contracts that are critical to its operations; the outcome
and timing of the Chapter 11 process and the proposed asset sale;
the effect of the Chapter 11 filings and proposed asset sale
on Clarus’ relationships with vendors, regulatory authorities,
employees and other third parties; possible proceedings that may be
brought by third parties in connection with the Chapter 11 process
or the proposed asset sale; and the timing or amount of any
distributions, if any, to Clarus’ stakeholders, as well as risks
associated with pharmaceutical development and being a
pharmaceutical company generally, along with those factors
described under the heading “Risk Factors” in Clarus’ annual report
on 10-K for the year ended December 31, 2021, filed with the
Securities and Exchange Commission (the SEC) on March 31, 2022, and
those that are included in any of Clarus’ future filings with the
SEC. Some of these risks and uncertainties may in the future be
amplified by the ongoing COVID-19 pandemic and there may be
additional risks that Clarus considers immaterial, or which are
unknown. It is not possible to predict or identify all such risks.
Clarus’ forward-looking statements only speak as of the date they
are made, and Clarus does not undertake any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
under applicable securities laws.
JATENZO® is a registered trademark of Clarus Therapeutics
Holdings, Inc. Source: Clarus Therapeutics Holdings, Inc.
Media and Investor Contact
Steve Bourne
Chief Financial Officer
Sbourne@clarustherapeutics.com
Clarus Therapeutics (NASDAQ:CRXT)
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