Grace Therapeutics Reports Reduced Net Loss and Focus on GTx-104 Development

Grace Therapeutics, Inc. reported a net loss of $2.3 million, or $0.14 per share, for the three months ended December 31, 2025, a significant decrease from a net loss of $4.2 million, or $0.36 per share, during the same period in 2024. For the nine months ended December 31, 2025, the company recorded a net loss of $6.6 million, down from $10.2 million in the prior year. The reduction in losses was primarily attributed to a decrease in research and development expenses, which fell to $462,000 from $2.2 million year-over-year, as well as a notable reduction in the change in fair value of derivative warrant liabilities.

In terms of financial position, Grace Therapeutics reported total assets of $68.5 million as of December 31, 2025, a decrease from $72.0 million at the end of the previous fiscal year. The company’s cash and cash equivalents stood at $18.7 million, down from $22.1 million as of March 31, 2025. Current liabilities decreased to $1.3 million from $1.9 million, reflecting improved management of trade and other payables. The company’s accumulated deficit increased to $227.3 million from $220.7 million, indicating ongoing operational challenges.

Strategically, Grace Therapeutics has focused on its lead product candidate, GTx-104, an injectable formulation of nimodipine aimed at treating aneurysmal subarachnoid hemorrhage (aSAH). The company submitted a New Drug Application (NDA) for GTx-104 to the FDA on June 25, 2025, which was accepted for review on August 22, 2025, with a target decision date set for April 23, 2026. The company has also strengthened its intellectual property portfolio with the issuance of a new patent covering the dosing regimen for GTx-104, extending protection until 2043.

Operationally, Grace Therapeutics has streamlined its workforce and management structure as part of a strategic realignment initiated in May 2023. This restructuring has allowed the company to focus its resources on GTx-104 while deprioritizing the development of its other drug candidates, GTx-102 and GTx-101, until additional funding or strategic partnerships can be secured. The company plans to utilize its existing cash reserves to support the regulatory review process for GTx-104 and prepare for a potential commercial launch, should the product receive FDA approval.

Looking ahead, Grace Therapeutics anticipates that its existing cash and cash equivalents will sustain operations for at least the next 12 months. However, the company acknowledges the need for additional capital to fund ongoing operations and development activities. The ability to generate revenue remains contingent upon obtaining regulatory approval for GTx-104, which is subject to significant uncertainty. The company continues to explore various financing options, including public or private equity and debt financing, to ensure adequate liquidity moving forward.