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Crescita Reports Third Quarter 2021 Results and Appoints New Board Member - PliaglisⓇ Licensed in 15 New Countries - Minority Interest Acquisition of 6 Medical Aesthetic Clinics in Ontario - Deployment of Capital to Support Growth in Medical Aesthetics LAVAL , Quebec -- ( BUSINESS WIRE ) -- November 11 , 2021 -- Crescita Therapeutics Inc. ( TSX : CTX and OTC US : CRRTF ) ( “ Crescita ” or the “ Company ” ) , a growth - oriented , innovation- driven Canadian commercial dermatology company , today reported its financial results for the third quarter ended September 30 , 2021 ( " Q3 - F2021 " ) . All amounts presented are in thousands of Canadian dollars ( " CAD " ) unless otherwise noted . Financial Highlights Q3 - F2021 vs. Q3 - F2020 . • • • • Revenue was $ 2,993 compared to $ 7,301 , a decrease of $ 4,308 primarily driven by the non - recurring impact of the amendment to our licensing agreement with Taro Pharmaceuticals Inc. ( " Taro " and the " Taro Amendment " ) for Pliaglis® in the U.S. in Q3- F2020 , representing $ 4,483 . Gross profit was $ 1,525 compared to $ 6,129 , a decrease of $ 4,604 ; Operating expenses were $ 2,385 compared to $ 2,259 , an increase of $ 126 ; Adjusted EBITDA¹ was $ ( 471 ) compared to $ 4,316 , a decrease of $ 4,787 ; Ending cash position was $ 12,236 , reflecting a net change of $ ( 847 ) for the quarter of which $ ( 500 ) related to the investment in The Best You® . " During the quarter , we advanced our strategic growth initiatives . We signed a new licensing agreement with another key international partner , STADA , for the sale of Pliaglis in 15 new countries in the MENA region , bringing the total number of licensed countries to 32. Pliaglis is a pivotal asset with substantial potential for recurring revenue . We expanded our footprint in the medical aesthetics space through our partnership with Obagi for the exclusive distribution of the Obagi Medical® product line in Canada . We acquired a minority interest in The Best You which will secure an expanded commercial platform for our existing brands as well as for the upcoming launch of the ART - FILLERⓇ range in 2022. We are confident that these deals position us favourably for growth in the booming medical aesthetics market , ” commented Serge Verreault , President and CEO of Crescita . Q3 - F2021 and Subsequent Corporate Developments Appointment of New Member to the Board of Directors • The Board appointed Ms. Deborah Shannon - Trudeau as an independent non - executive director effective November 10 , 2021. Ms. Shannon - Trudeau has over 30 years '