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Prospectus Supplement No. 3
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Filed Pursuant to Rule 424(b)(3)
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(to Prospectus dated October 7, 2021)
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Registration No. 333-259915
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Up to 19,816,610 Shares of Common Stock
Up to 9,195,000 Shares of Common Stock Issuable Upon Exercise of Warrants
Up to 3,445,000 Warrants
This prospectus
supplement updates and supplements the prospectus dated October 7, 2021 (the “Prospectus”), which forms a part of our Registration Statement on Form S-1, as amended (Registration No. 333-259915). This prospectus supplement is being filed to update and supplement the information in the Prospectus with (i) the information contained in our Current Report on Form 8-K, filed with the Securities and Exchange Commission on December 21, 2021 (the “Current Report on Form 8-K”) and
(ii) discussion of our results of operations and cash flows for the periods ended December 31, 2020 and 2019. Accordingly, we have attached the Current Report on Form 8-K to this prospectus
supplement followed by the discussion.
The Prospectus and this prospectus supplement relate to the issuance by us of an aggregate of up
to 9,195,000 shares of our common stock, $0.0001 par value per share (“Common Stock”), which consists of (i) up to 3,445,000 shares of Common Stock that are issuable upon the exercise of 3,445,000 warrants (the
“Placement Warrants”) originally issued in a private placement in connection with the initial public offering of Blue Water Acquisition Corp. (“Blue Water”) by the holders thereof and (ii) up to 5,750,000
shares of Common Stock that are issuable upon the exercise of 5,750,000 warrants (the “Public Warrants” and, together with the Placement Warrants, the “Warrants”) originally issued in the initial public offering of
Blue Water by the holders thereof.
The Prospectus and this prospectus supplement also relate to the offer and sale from time to time by
the selling securityholders named in the Prospectus of (i) up to 19,816,610 shares of Common Stock (including up to 3,445,000 shares of Common Stock that may be issued upon exercise of the Placement Warrants) and (ii) up to 3,445,000
Placement Warrants.
This prospectus supplement should be read in conjunction with the Prospectus as amended and supplemented to date.
This prospectus supplement updates and supplements the information in the Prospectus. If there is any inconsistency between the information in the Prospectus and this prospectus supplement, you should rely on the information in this prospectus
supplement.
The Common Stock and Public Warrants are listed on The Nasdaq Global Market (“Nasdaq”) under the symbols
“CRXT” and “CRXTW,” respectively. On December 20, 2021, the closing price of the Common Stock was $3.14 and the closing price for the Public Warrants was $0.3061.
See the section entitled “Risk Factors” beginning on page 5 of the Prospectus and under similar headings in any further
amendments or supplements to read about factors you should consider before buying our securities.
Neither the Securities and
Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if the Prospectus or this prospectus supplement are truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus supplement is December 21, 2021.