On October 23, 2025, Grace Therapeutics announced it had raised approximately $4.0 million by exercising 1,345,464 common warrants at an exercise price of $3.003 per share. The exercise was triggered by the FDA’s acceptance of the company’s GTx‑104 NDA for formal review. The remaining 1,190,927 warrants from the September 2023 private placement expired after the 60‑day period following FDA acceptance.
The proceeds provide immediate capital to fund the regulatory review process and pre‑commercial activities for GTx‑104, the company’s lead orphan‑drug candidate for aneurysmal subarachnoid hemorrhage. By securing this equity, Grace reduces its reliance on additional debt or future equity issuances, extending its cash runway and supporting the next stages of development.
The FDA acceptance of the GTx‑104 NDA, coupled with the company’s orphan drug designation, positions the product for a potentially accelerated approval pathway. The PDUFA target date of April 23, 2026 sets the timeline for review, and the new funding supports the company’s efforts to advance GTx‑104 toward market entry.
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