Acasti Pharma, Inc. ( (GRCE) ) has released its Q3 earnings. Here is a breakdown of the information Acasti Pharma, Inc. presented to its investors.
Grace Therapeutics, Inc., formerly known as Acasti Pharma, Inc., is a late-stage biopharmaceutical company focused on developing innovative drug delivery technologies to address rare and orphan diseases, particularly targeting aneurysmal subarachnoid hemorrhage (aSAH) with its lead clinical asset, GTx-104.
In its latest earnings report, Grace Therapeutics announced significant progress in its clinical and corporate goals, highlighted by the successful completion of the Phase 3 STRIVE-ON safety trial for GTx-104, which met its primary endpoint. The company also secured up to $30 million in private placement financing to support its pre-commercial activities and potential product launch.
Key financial metrics revealed a net loss of $4.2 million for the quarter, an increase from the previous year, primarily due to higher research and development expenses and changes in derivative warrant liabilities. The company emphasized the promising clinical outcomes of GTx-104, which demonstrated improved patient outcomes compared to oral nimodipine, and highlighted the potential benefits of its novel intravenous formulation.
Looking ahead, Grace Therapeutics plans to submit a New Drug Application (NDA) for GTx-104 in the first half of 2025, aiming to address the unmet medical needs in aSAH treatment. The company remains focused on advancing its pipeline and leveraging its innovative drug delivery technologies to enhance patient care in rare diseases.