Clarus Therapeutics Holdings, Inc., along with its affiliate, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the District of Delaware on September 5, 2022. The debtor listed both its assets and liabilities in the range of $50 million to $100 million. The debtor is represented by L. Katherine Good and Aaron H. Stulman of Potter Anderson & Corroon LLP as its Delaware and conflict counsel and Goodwin Procter LLP as its legal counsel.

The debtor also hired Raymond James & Associates, Inc. as its investment banker and Lawrence R. Perkins of SierraConstellation Partners LLC as its restructuring advisor. Stretto, Inc. is appointed as claims and noticing agent and administrative advisor to debtor.