Grace Therapeutics falls after FDA declines to approve stroke drug

Grace Therapeutics

23/04/2026 19:46

** Shares of drug developer Grace Therapeutics GRCE.O fall 50% to $2.12

** GRCE says the U.S. Food and Drug Administration declined to approve its drug for a rare type of stroke, citing deficiencies in chemistry, manufacturing and controls and non-clinical data

** The drug GTx-104 is for the treatment of aneurysmal subarachnoid hemorrhage, a critical, often fatal form of stroke caused by a ruptured brain aneurysm

** Co says it intends to request a meeting with the FDA to clarify the path forward and determine the appropriate next steps

** GRCE stock down 38% YTD

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com))