InvestmentAug 4, 2026, 09:03 PM
Grace Therapeutics Secures $10M Private Placement Financing
AI Summary
Grace Therapeutics, Inc. announced a private placement financing expected to generate approximately $10 million in gross proceeds. The company will issue 4,761,904 shares of common stock at $2.10 per share to new and existing investors. The net proceeds will be used to support manufacturing and regulatory work for GTx-104, extending the company's cash runway to the end of 2028. Additionally, Grace Therapeutics has initiated a dual-source manufacturing strategy for GTx-104 to mitigate potential remediation issues and provide flexibility for its New Drug Application resubmission.
Key Highlights
- Secured approximately $10 million in gross proceeds from a private placement financing.
- Issued 4,761,904 shares of common stock at a price of $2.10 per share.
- Net proceeds will support manufacturing and regulatory work for GTx-104.
- Financing extends the company's cash runway to the end of calendar 2028.
- Initiated a dual-source manufacturing strategy for GTx-104, including technology transfer to a second U.S.-based contract manufacturer.
- Timing of New Drug Application (NDA) resubmission will depend on manufacturing readiness from either facility.
Price Impact
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