Crescita Reports Q4 and Fiscal 2019 Results Record Annual Revenue of $22.3M Record Adjusted EBITDA of $7.0M up from $1.5M LAVAL, QC , March 18, 2020 |CNW| - Crescita Therapeutics Inc. (TSX: CTX ) (GREY: CRRTF ) ("Crescita" or the "Company"), a growth-oriented, innovation-driven Canadian commercial dermatology company with in-house research development ("RD") and manufacturing capabilities, today reported its financial results for the fourth quarter ("Q4-F2019") and fiscal year ended December 31, 2019 ("F2019"). All amounts are in thousands of Canadian dollars except for share and per share amounts, unless otherwise noted. Year-over-year Financial Highlights F2019 vs. F2018 Record revenue of $22,337 , an increase of $5,709 or 34.3%; Recognized $5,459 in up-front payments and guaranteed future minimum royalties related to the out-licensing agreement with Cantabria Labs (see below); Recognized $2,645 (US$2,000) in sales milestones from Taro related to the achievement of the final cumulative targets for the U.S. sales of Pliaglis®; Recognized a development milestone of $988 (US$750) from Taro related to the approval of an enhanced formulation of Pliaglis by the FDA (defined below); Operating expenses of $17,369 , an increase of $704 or 4.2%; Record Adjusted EBITDA 1 of $6,984 , an improvement of $5,533 versus $1,451 ; Repaid the Knight Loan in full in the amount of $3,570 (see below); Generated $4,249 in cash before repayment of the Knight Loan, resulting in closing cash position of $9,268 compared to $8,598 at the end of 2018.