Grace Therapeutics Files 10-Q for Q2 2024
Ticker: GRCE · Form: 10-Q · Filed: Nov 13, 2024 · CIK: 1444192
| Field | Detail |
|---|---|
| Company | Grace Therapeutics, INC. (GRCE) |
| Form Type | 10-Q |
| Filed Date | Nov 13, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.0001, $0 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, pharmaceuticals
TL;DR
Grace Therapeutics 10-Q filed. Financials updated for Q2 FY25.
AI Summary
Grace Therapeutics, Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Acasti Pharma Inc., is incorporated in Delaware and operates in the Pharmaceutical Preparations sector. Its principal executive offices are located in Princeton, New Jersey.
Why It Matters
This filing provides investors with an update on Grace Therapeutics' financial performance and operational status for the second quarter of fiscal year 2025.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial and business updates.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
- 2024-11-13 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Grace Therapeutics, Inc. (company) — Filer of the 10-Q
- Acasti Pharma Inc. (company) — Former name of Grace Therapeutics, Inc.
- 20240930 (date) — End of reporting period
- 20241113 (date) — Filing date
- Princeton, New Jersey (location) — Business address
FAQ
What is the fiscal year end for Grace Therapeutics, Inc.?
The fiscal year end for Grace Therapeutics, Inc. is March 31st.
What was the previous name of Grace Therapeutics, Inc.?
Grace Therapeutics, Inc. was formerly known as Acasti Pharma Inc.
In which state is Grace Therapeutics, Inc. incorporated?
Grace Therapeutics, Inc. is incorporated in Delaware (DE).
What is the SIC code for Grace Therapeutics, Inc.?
The Standard Industrial Classification (SIC) code for Grace Therapeutics, Inc. is 2834, which corresponds to Pharmaceutical Preparations.
What is the business address of Grace Therapeutics, Inc.?
The business address for Grace Therapeutics, Inc. is 103 Carnegie Center, Suite 300, Princeton, NJ 08540.
Filing Stats: 4,484 words · 18 min read · ~15 pages · Grade level 17.8 · Accepted 2024-11-13 07:30:32
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share GRCE Nasdaq Stock Market
- $0 — the registrant, par value per share of $0.0001, as of November 13, 2024, was 10,1
Filing Documents
- ef20037228_10q.htm (10-Q) — 1186KB
- ef20037228_ex31-1.htm (EX-31.1) — 9KB
- ef20037228_ex31-2.htm (EX-31.2) — 9KB
- ef20037228_ex32-1.htm (EX-32.1) — 6KB
- ef20037228_ex32-2.htm (EX-32.2) — 6KB
- image0.jpg (GRAPHIC) — 160KB
- image00001.jpg (GRAPHIC) — 24KB
- image3.jpg (GRAPHIC) — 55KB
- image00007.jpg (GRAPHIC) — 113KB
- image00008.jpg (GRAPHIC) — 58KB
- image00009.jpg (GRAPHIC) — 51KB
- image00010.jpg (GRAPHIC) — 23KB
- image00011.jpg (GRAPHIC) — 30KB
- 0001140361-24-046312.txt ( ) — 6678KB
- grce-20240930.xsd (EX-101.SCH) — 34KB
- grce-20240930_cal.xml (EX-101.CAL) — 36KB
- grce-20240930_def.xml (EX-101.DEF) — 185KB
- grce-20240930_lab.xml (EX-101.LAB) — 501KB
- grce-20240930_pre.xml (EX-101.PRE) — 289KB
- ef20037228_10q_htm.xml (XML) — 785KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements 5 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.
Controls and Procedures
Controls and Procedures 37
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 37 Item 1A.
Risk Factors
Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 3. Defaults Upon Senior Securities 38 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 38 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This quarterly report contains information that may be forward-looking statements within the meaning of U.S. federal securities laws and forward-looking statements within the meaning of Canadian securities laws, both of which we refer to in this quarterly report as forward-looking statements. Forward- looking statements can be identified by the use of terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not statements about historical facts. Forward-looking statements in this quarterly report include, among other things, information, or statements about: our ability to build a late-stage pharmaceutical company focused in rare and orphan diseases and, on developing and commercializing products that improve clinical outcomes using our novel drug delivery technologies; our ability to apply new proprietary formulations to existing pharmaceutical compounds to achieve enhanced efficacy, faster onset of action, reduced side effects, and more convenient drug delivery that can result in increased patient compliance; the potential for our drug candidates to receive orphan drug designation and exclusivity from the U.S. Food and Drug Administration ("FDA") or regulatory approval under the Section 505(b)(2) regulatory pathway under the Federal Food, Drug and Cosmetic Act ("FDCA"); the future prospects of our GTx-104 drug candidate, including but not limited to GTx-104's potential to be administered to improve the management of hypotension in patients with aneurysmal subarachnoid hemorrhage ("aSAH"); GTx-104's potential to reduce the incidence of vasosp
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1. Financial Information Unaudited Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets 6 Condensed Consolidated Statements of Loss and Comprehensive Loss 7 Condensed Consolidated Statements of Shareholders' Equity 8 Condensed Consolidated Statements of Cash Flows 9 Notes to the Unaudited Condensed Consolidated Financial Statements 10 5 Table of Contents GRACE THERAPEUTICS, INC. (Formerly ACASTI PHARMA INC.) Condensed Consolidated Balance Sheets (Unaudited) September 30, 2024 March 31, 2024 (Expressed in thousands except share data) $ $ Assets Current assets: Cash and cash equivalents 15,155 23,005 Short-term investments 15 — Receivables 415 722 Prepaid expenses 477 283 Total current assets 16,062 24,010 Equipment, net 21 24 Intangible assets 41,128 41,128 Goodwill 8,138 8,138 Total assets 65,349 73,300 Liabilities and shareholders' equity Current liabilities: Trade and other payables 2,674 1,684 Total current liabilities 2,674 1,684 Derivative warrant liabilities 2,603 4,359 Deferred tax liability 3,938 5,514 Total liabilities 9,215 11,557 Commitments and contingencies (Note 11) Shareholders' equity: Class A common shares, no par value per share; unlimited shares authorized; 10,139,861 and 9,399,404 shares issued and outstanding as of September 30, 2024 and March 31, 2024, respectively 261,038 261,038 Class B, C, D and E common shares, no par value per share; unlimited shares authorized; none issued and outstanding — — Additional paid-in capital 18,302 17,862 Accumulated other comprehensive loss ( 6,038 ) ( 6,038 ) Accumulated deficit ( 217,168 ) ( 211,119 ) Total shareholders' equity 56,134 61,743 Total liabilities and shareholders' equity 65,349 73,300 See accompanying notes to unaudited condensed consolidated financial statements. 6 Table of Contents