Company: GRCE
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001140361-25-030398
Chunk: 15

Company: Grace Therapeutics, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 8
Chunk 15
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M utilizes the cash budget and forecasts in assessing the entity-wide operating results and performance, and in deciding how to allocate resources across the organization and its segment. Net loss and total comprehensive loss  is used to monitor budgets against actual results, which then is used in assessing the performance of the segment.

  18
  

 The table below summarizes the significant expenses, by category regularly reviewed by the CODM, for the three months ended June 30, 2025 and 2024: 

  June 30, 2025
  $

  June 30, 2024
  $

  Clinical development programs
  
   (446) 
   (2,405) 

  Professional fees
  
   (988) 
   (1,494) 

  Salaries and benefits
  
   (802) 
   (602) 

  Stock-based compensation
  
   (302) 
   (238) 

  Other general and administrative
  expenses (1)
  
   (552) 
   (224) 

  Other segment expense (income) (2)
  
   (476) 
   1,387 

  Interest income, net
  
   204 
   235 

  Income tax benefit

—
 
   724 

  Segment and consolidated loss
  
   (3,362) 
   (2,617) 

     1) 
     Other general and administrative expenses include depreciation, travel, and other administrative costs. 

     2) 
     Other segment income includes change in fair value of derivative warrant liabilities and foreign exchange (loss)/gain. 

   10. Income taxes
   
   The provision for income taxes and the effective income tax rates were as follows:  

             Three months ended

      June 30, 2025

      June 30, 2024

      $

      $  

      Provision for income taxes

      — 

    (724)  

    Effective income tax rate
     0.00
    %
     
     21.67% 

   The variance in effective tax rates for the three months ended June 30, 2025 and 2024 is primarily attributable to the Company’s partial valuation allowance applied to its net domestic deferred tax assets.

   As of June 30, 2025, the Company had a partial valuation allowance against