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Crescita Therapeutics' Q1 Loss Widens Even as Revenue Advances

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Crescita Therapeutics (CTX.TO) on Monday said its first-quarter loss widened even as revenue advanced.

The company, which being acquired by ClinActiv Holdings, said its first-quarter loss widened to $1.2 million, or $0.06 per share, from a loss of $0.7 million, or $0.05 per share, in the prior-year period.

Revenue rose to $5.64 million from $3.54 million a year earlier. The rise of $2.1 million was primarily driven by higher manufacturing segment revenue of $1.6 million, mainly due to the fulfillment of large orders during the quarter. Skincare sales also increased by $592,000, mainly reflecting incremental revenue from Bacti Control, acquired last August.

"During the first quarter, we continued to execute against our operational priorities. Our results reflect the year-over-year revenue and gross profit growth, driven by higher production volumes in our Manufacturing segment as well as the incremental revenue from recently acquired skincare assets," said chief executive Serge Verreault.

Crescita Therapeutics was last seen unchanged at $0.76, on the Toronto Stock Exchange.

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Planet Ventures (PXI.CN) made a strategic investment into Lux Aeterna, a space infrastructure company building the world's first fully reusable satellite platform, it said Monday.The company invested a total of US$100,000 into Lux Aeterna's equity financing. Lux Aeterna has already attracted significant attention from leading venture capital firms in the space sector, including Space Capital, and recently completed a US$10-million seed financing round led by Konvoy to speed-up development of its flagship spacecraft, with a demonstration mission targeted for 2027, it noted."We believe reusable satellite infrastructure represents one of the most important and underappreciated opportunities within the space economy," said Planet Ventures Chief Executive Etienne Moshevich. "Lux Aeterna is tackling a critical bottleneck in orbital logistics-bringing assets and materials back from space-and we believe this capability could unlock entirely new industries."Shares of the company were last seen unchanged at $0.34 on the Canadian Securities Exchange.

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