Policy & Regulation
Crescita Therapeutics to take measures in response to COVID-19
25 March 2020 -

Crescita Therapeutics Inc (TSX: CTX) (OTC US: CRRTF), a Canadian commercial dermatology company with in-house research and development and manufacturing capabilities, announced on Tuesday that it is taking measures in response to COVID-19.

The firm is temporarily closing its office and production facility in Laval, Quebec until around 13 April 2020. This move will result in temporary layoffs affecting most production and office personnel. Certain employees who are required to maintain basic services during the closure, including customer service, will be working remotely with decreased hours. Product distribution through the firm's third-party logistics provider will remain operational with decreased capacity.

The company says that it is in the process of implementing various initiatives in order to conserve cash and help maintain its financial flexibility throughout the uncertainties and economic pressures posed by COVID-19.