Acasti Pharma reports FY2023 net loss of $42.4M, focuses on GTX-104 Phase 3

Grace Therapeutics, Inc.

Net loss of $42.4M ($0.95 loss per share) vs $9.8M loss prior year; impairments of $33.5M.
Cash, cash equivalents and short-term investments $27.9M, expected to fund through Q2 2025 for potential NDA filing.
FDA confirmed 505(b)(2) pathway for GTX-104; Phase 3 Safety Study protocol submitted, first patient H2 2023.
Strategic realignment: R&D focus solely on GTX-104, evaluating partnerships for GTX-102/GTX-101.
R&D expenses $9.9M (up 77% YoY); G&A expenses reduced to $7.6M; restructuring with layoffs in Canada.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Grace Therapeutics, Inc. reported the fiscal year ended March 31, 2023 results: net income $(42.4) million, EPS $(0.95) loss per share.

Period: the fiscal year ended March 31, 2023
Net income: $(42.4) million
EPS: $(0.95) loss per share
Result: reported results

Exact text from the filing

Net loss and total comprehensive loss for the twelve months ended March 31, 2023 was $(42.4) million, or $(0.95) loss per share, compared to a net loss of $(9.8) million, or $(0.27) income per share, for the twelve months ended March 31, 2022.

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Source: SEC EDGAR

accession 0000950170-23-029500

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