Company: GRCE
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001140361-25-030398
Chunk: 32

Company: Grace Therapeutics, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 8
Chunk 32
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 expenses for research and development personnel, including expenses related to equity compensation.

   We record research and development expenses as incurred.

Our research and development during the three
months ended June 30, 2025 were focused primarily on completing the clinical
development program for our GTx-104 drug candidate and preparation and
submission of our GTx-104 NDA to the FDA.

   Our research and development during the three months ended June 30,  2024 were focused primarily on our clinical development program for our GTx-104 drug candidate.  

   The following table summarizes our research and development expenses:

    (expressed in thousands)

     Three months ended

      June 30, 2025

      June 30, 2024

      Increase (Decrease)

      $ 
      $ 
      $ 

      Total third-party research and development expenses1

     563 
     2,435 
     (1,872) 

      Salaries and benefits

     323 
     207 
     116 

      Research and development expense before stock-based compensation and depreciation

     886 
     2,642 
     (1,756) 

      Stock-based compensation

     69 
     66 
     3 

      Total

     955 
     2,708 
     (1,753) 

    1 Total third-party research and development expenses are calculated before salaries and benefits and stock-based compensation.

   Total research and development expenses for the three months ended June 30, 2025 were $955, compared to $2,708 for the three months ended June 30, 2024. The decrease of $1,753   was primarily due to a $1,961 decrease in research activities mainly due to completion of our GTx-104 pivotal Phase 3 STRIVE-ON safety clinical trial, offset in part by a $99 increase on
professional fees in connection with the preparation and submission of our NDA
to the FDA, and a $116 increase in salaries and benefits due to merit increases.

  32
  

   Stock-based compensation of $69 for the three months ended June 30, 2025, increased by $3 compared to $66 for the three months ended June 30, 2025.  The
increase was primarily due to the  issuance of new stock option awards during the three months