BTTX - Clarus Therapeutics climbs over 50% with 10x average share volume

Shares of recently IPO’ed Clarus Therapeutics (CRXT +56.0%) has surged over 50%, recording the biggest intra-day gain since the commercial-stage pharma company went public thanks to a SPAC deal with Blue Water Acquisition Corp. Over 16M Clarus (NASDAQ:CRXT) shares have changed hands, indicating more than ten times the average 65-day volume. After a brief pause triggered by volatility, the company shares have resumed trading. Clarus (CRXT) commercializes the FDA-approved oral T-replacement therapy JATENZO. The company is led by CEO Robert E. Dudley, who previously managed the privately held Anagen Therapeutics. For Q2 2021, Clarus (CRXT) recorded ~$2.8M in net product revenue, indicating ~238% YoY growth. Better Therapeutics (NASDAQ:BTTX), another biotech that recently went public via a SPAC merger, gained over 80% on Monday.

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Clarus Therapeutics climbs over 50% with 10x average share volume