Company: GRCE
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001140361-25-030398
Chunk: 33

Company: Grace Therapeutics, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 8
Chunk 33
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ended June 30, 2025.

   General and administrative expenses

   General and administrative expenses consist primarily of salaries and related benefits, including stock-based compensation, related to our executive, finance, legal, and support functions, including professional fees for auditing, tax, consulting, rent and utilities and insurance.

(expressed in thousands) 

     Three months ended      

     June 30, 2025

      June 30, 2024

      Increase (Decrease)

      $ 
      $ 
      $ 

      Salaries and benefits

     479 
     395 
     84 

      Professional fees

     871 
     1,454 
     (583) 

      Other

     550 
     233 
     317 

      General and administrative expense before stock-based compensation and depreciation1

     1,900 
     2,082 
     (182) 

      Stock-based compensation

     233 
     172 
     61 

      Depreciation

     2 
     1 
     1 

      Total

     2,135 
     2,255 
     (120) 

   1 General and administrative sub-total expenses are calculated before stock-based compensation and depreciation.

General and administrative expenses
were $2,135 for the three months ended June 30, 2025, a decrease of $120 from $2,255
for the three months ended June 30, 2024. The decrease was primarily a result
of decreased legal, accounting, tax, audit and other professional fees related
to Continuance and Domestication, offset in part by an increase in salaries and
benefits due to merit increases, increased in other general and administrative
expenses primarily due to costs for the GTx-104 commercial assessment, and an increase
in stock-based compensation due to the issuance of new stock option awards.

   Change in fair value of derivative warrant liabilities

   The change in the fair value of derivative warrant liabilities  was mainly attributable to the increase  in our stock price.

   Interest and other income, net

Interest and other income, net was $205
for the three months ended June 30, 2025, compared to $235 for the three months
ended June 30, 2024.  The $30 decrease in
our interest and other income was due to withdrawals of