Company: GRCE
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001140361-25-030398
Chunk: 31

Company: Grace Therapeutics, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 8
Chunk 31
---
 table summarizes our results of
operations for the three months ended June 30, 2025 and 2024:

(expressed in thousands)

    Three months ended       

      June 30, 2025

      June 30, 2024

      Increase (Decrease)

      $ 
      $ 
      $ 

      Operating expense

     Research and development expenses
     955 
     2,708 
     (1,753)

      General and administrative expenses

     2,135 
     2,255 
     (120) 

      Loss from operating activities

     (3,090) 
     (4,963) 
     (1,873) 

      Foreign exchange gain (loss)

     10 
     (8) 
     (18) 

      Change in fair value of derivative warrant liabilities

     (487) 
     1,395 
     (1,882) 

      Interest and other income, net

     205 
     235 
     (30) 

      Income tax benefit

               —       
     724 
     (724) 

      Net loss

     (3,362) 
     (2,617) 
     745 

  31
  

Net Loss

   The net loss of $3,362, or $0.21 per share, for the three months ended June 30, 2025, increased by $745 from the net loss of $2,617, or $0.24 per share, for the three months ended June 30, 2025. The increase in net loss was primarily due to a $1,882 difference in the change in fair value of derivative warrant liabilities, a $30 decrease in  interest and other income, net, and a $724 decrease in  income tax benefit, partially offset  by a $1,753 decrease in research and development expenses and a $120 decrease in general and administrative expenses.

   Research and development expenses, net of government assistance

   Research and development expenses consist primarily of:

     •

     fees paid to external service providers such as CROs and CMOs related to clinical trials, including contractual obligations for clinical development, clinical sites, manufacturing, and scale-up, and formulation of clinical drug supplies; and

     •

     salaries and related