Quarterly ResultAug 13, 2026, 07:37 AM
Grace Therapeutics Q2 Net Loss $(15.79)M Due to Impairment
AI Summary
Grace Therapeutics reported a net loss of $(15.79) million for the quarter ended June 30, 2026, significantly wider than the prior year, primarily due to a $(13.53) million impairment charge on intangible assets for GTx-101 and GTx-102. The company is now focused on its lead product candidate, GTx-104, following an FDA Complete Response Letter. Grace Therapeutics recently completed a private placement, raising approximately $9.1 million, and expects its current cash to fund operations for at least 12 months, though additional financing will be required.
Key Highlights
- Net loss for Q2 2026 was $(15.79) million, compared to $(3.36) million in Q2 2025.
- Impairment of intangible assets totaled $(13.53) million for GTx-101 and GTx-102.
- Cash and cash equivalents decreased to $13.76 million as of June 30, 2026, from $16.98 million.
- Total assets decreased to $50.07 million from $66.65 million as of March 31, 2026.
- Net cash used in operating activities was $(3.22) million for the quarter.
- Subsequent to the quarter, the company raised $9.1 million net from a private placement.
- As of August 11, 2026, cash and cash equivalents were $22.23 million.
Price Impact
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