Quarterly ResultAug 13, 2026, 08:08 AM
Grace Therapeutics Q1 Net Loss $15.8M; Advances GTx-104 NDA
AI Summary
Grace Therapeutics reported a net loss of $15.8 million, or $0.91 per share, for the three months ended June 30, 2026, significantly higher than the prior year due to a $13.5 million impairment of IPR&D for deprioritized assets. The company announced a $10 million private placement financing and is making progress on its GTx-104 New Drug Application (NDA) resubmission, addressing FDA's Complete Response Letter items with a dual-source manufacturing strategy. The financing extends its cash runway through the end of 2028.
Key Highlights
- Reported Q1 net loss of $15.8 million, up from $3.4 million year-over-year.
- Basic and diluted loss per share was $0.91, compared to $0.21 year-over-year.
- Announced a $10 million private placement financing to support GTx-104.
- Initiated a dual-source manufacturing strategy for GTx-104 NDA resubmission.
- Recorded a $13.5 million impairment of IPR&D related to GTx-101 and GTx-102.
- Cash and cash equivalents were $22.2 million as of August 11, 2026.
- Expected cash runway extends through the end of calendar 2028.
Price Impact
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