Company: GRCE
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001140361-25-041804
Chunk: 32

Company: Grace Therapeutics, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 32
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 for GTx-101 or the signing
of a strategic partnership, we plan to follow this successful PK trial with the
next step of the clinical development plan including a multiple ascending dose
trial. Results from these non-clinical studies and clinical trials are required
before the initiation of our Phase 2 program in PHN patients. It is also
possible that we may out-license or sell our GTx-101 drug candidate for the
U.S. and/or global markets. 

   Basis of Presentation of the Financial Statements

   Our unaudited condensed consolidated financial statements, which include the accounts of our wholly owned subsidiary, have been prepared in accordance with U.S. GAAP and the rules and regulations of the SEC related to quarterly reports filed on Form 10-Q. All intercompany transactions and balances are eliminated on consolidation.

   Our assets as of September 30, 2025 include cash and cash equivalents of $16,862 and intangible assets and goodwill of $49,266. Our current liabilities of $1,245 as of September 30, 2025 were comprised primarily of amounts due to or accrued for creditors.

   In February 2025, we completed a private placement of Company securities with certain institutional and accredited investors. Net proceeds to the Company were $13,705. Refer to Note 5, Stockholders’ Equity - 2025 Private Placement, in the accompanying unaudited condensed consolidated financial statements elsewhere in this document for additional information. In October 2025, the Company received $4,000 in gross proceeds from exercises of common warrants that were previously issued in a private placement in September 2023. We believe our existing cash and cash equivalents will be sufficient to sustain planned operations through at least 12 months from the issuance date of these unaudited condensed consolidated financial statements.

   Results of Operations

   Comparison of the three and six months ended September 30, 2025 and 2024

   The following table summarizes our results of operations for the three and six months ended September 30, 2025 and 2024:

   (expressed in thousands)

      Three months ended

      Six Months ended

September30,2025

      September30,2024 
      Increase(Decrease) 
      September30,2025 
      September30,2024 
      Increase(Decrease) 

      $ 
      $ 
      $