Crescita had total revenue, consisting of product sales, out-licensing and services revenue, was $4,906 for the three months ended September 30, 2019, compared to $4,464 for the three months ended September 30, 2018.
The company said this is representing an increase of $442 or 9.9% year-over-year. The increase came primarily from product sales, contributing $270 or 13.0% year-over-year, mainly as a result of the Q1-19 launch of Dermazulene™ in China through a leading e-commerce platform, as well as due to the expansion of branded product sales across geographies.
“We are making progress toward our goal of becoming a leading Canadian commercial dermatology company,” said Serge Verreault, President and Chief Executive Officer of Crescita. “We delivered top line organic growth and positive cash flow in the quarter and continue to focus on expanding our product and royalty revenue streams. Our strategy includes the geographic expansion of Pliaglis in the rest-of-world and further leveraging our patented active delivery technologies for other markets and indications.”