Brief: Crescita Therapeutics Announces Measures In Response To Covid-19 Virus

Crescita Therapeutics

25/03/2020 24:05

Crescita Therapeutics Inc  CTX.TO :
    * CRESCITA THERAPEUTICS ANNOUNCES MEASURES IN RESPONSE TO
COVID-19
VIRUS
    * CRESCITA THERAPEUTICS INC - WILL BE TEMPORARILY CLOSING
ITS
OFFICE AND PRODUCTION FACILITY IN LAVAL, QUÉBEC,
    * CRESCITA THERAPEUTICS INC - FACILITY CLOSURE WILL RESULT
IN
TEMPORARY LAYOFFS AFFECTING MOST PRODUCTION AND OFFICE PERSONNEL
    * CRESCITA THERAPEUTICS INC - PRODUCT DISTRIBUTION THROUGH
COMPANY'S THIRD-PARTY LOGISTICS PROVIDER WILL REMAIN OPERATIONAL
WITH REDUCED CAPACITY.
    * CRESCITA - CANADIAN CLIENTS IN AESTHETIC AND MEDICAL
AESTHETIC
MARKETS TEMPORARILY CLOSED RESULTING IN SUBSTANTIALLY DECREASED
CANADIAN PRODUCT SALES
    * CRESCITA THERAPEUTICS INC - ANTICIPATES THAT ROYALTIES
FROM
INTERNATIONAL SALES OF ITS PRODUCTS WILL BE ADVERSELY AFFECTED
BY LOWER DEMAND
    * CRESCITA THERAPEUTICS INC - MEMBERS OF EXECUTIVE TEAM,
BOARD
AGREED TO TEMPORARY BASE SALARY OR FEE REDUCTIONS RANGING
BETWEEN 25% AND 40%

Source text for Eikon:  ID:nCNWfxy9ba 
Further company coverage:  CTX.TO