08:10 AM EDT, 03/13/2024 (MT Newswires) -- Crescita Therapeutics Inc. ( CRRTF ) , a Canadian commercial dermatology company, on Wednesday reported its Q4 2023 results.

The company recorded quarterly revenue of $4.7 million, down from $6 million last year.

Net loss was $150,000 or $(0.01) per share, compared with net income of $1.2 million, and $0.06 per share, for Q4 2022.

President and CEO, Serge Verreault, said: "We recorded a 26% decrease in total revenue versus 2022, mainly due to a reduction in production volumes for one key customer. We are in active discussions to secure new manufacturing business and to diversify our customer base. On the licensing front, we are seeking a new U.S. partner for Pliaglis in this important market. We are also expecting existing partners to launch Pliaglis in several European and Middle Eastern countries in 2024."

Crescita's skincare business grew 30% over 2022 and outperformed the 6% projected beauty industry growth rate. "Twelve months post-launch, ART FILLER is gaining traction in the Canadian physician-dispensed market, as we open new accounts and observe repeat orders."