Grace Therapeutics Q1 net loss widens on impairment charges

Grace Therapeutics

13/08/2026 13:08

Overview
US biopharma firm's Q1 net loss widened on impairment charges tied to deprioritized programs
Research and admin expenses fell as GTx-104 clinical trial and NDA submission completed
Company raised $10 mln in private placement, expects cash runway through end-2028

Outlook
Company expects cash runway to last through end of calendar 2028
Grace Therapeutics plans NDA resubmission for GTx-104 when either manufacturing site reaches readiness
Company intends to use cash to address FDA CRL items and advance GTx-104

Result Drivers
IMPAIRMENT CHARGE - Net loss increased due to full impairment of intangible assets for GTx-101 and GTx-102 after strategic deprioritization
LOWER R&D EXPENSES - Research and development costs fell as GTx-104 clinical trial and NDA submission completed in prior period
LOWER ADMIN COSTS - General and administrative expenses declined due to reduced pre-commercial planning for GTx-104

Company press release: ID:nGNXbXHhZ0

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Loss Per Share
 
$0.91
 
Q1 Net Loss
 
$15.79 mln
 
Q1 Pretax Loss
 
$15.79 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Grace Therapeutics, Inc is $6.00, about 185.7% above its August 12 closing price of $2.10

Reuters Recommended Reads
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Aug 12 - Eloxx Pharmaceuticals Q2 net loss widens on higher expenses
Aug 11 - Aardvark Therapeutics Q2 operating expenses fall on paused ARD-101 clinical trials and workforce reduction

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)