Company: GRCE
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001140361-25-041804
Chunk: 34

Company: Grace Therapeutics, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 34
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 in net loss was
primarily due to a $2,408 decrease in research and development expenses,
partially offset by increases in general administrative expenses of $106 and an
increase in the change of fair value of derivative warrant liabilities of $1,065.
The net loss of $4,301, or $0.27 per share, for the six months ended September
30, 2025, decreased by $1,748 from the net loss of $6,049, or $0.53 per share,
for the six months ended September 30, 2024. The decrease in net loss was
primarily due to a $4,161 decrease in research and development expenses, a $13
decrease in general and administrative expenses, partially offset by $1,576
decrease in income tax benefit and a $816 difference in the change in fair
value of derivative warrant liabilities. 

   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 expenses for research and development personnel, including expenses related to equity compensation.

   We record research and development expenses as incurred.

Our
research and development activities during the three and six months ended
September 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 activities
during the three and six months ended September 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

      Six Months ended

      September 30, 2025

      September 30, 2024

      Increase (Decrease)

      September 30, 2025

      September 30, 2024

      Increase (Decrease)

    $ 
      $ 
      $ 
      $ 
      $ 
      $ 

      Total third-party research and development expenses1
       
    201 
      2,716