Grace Therapeutics: Phase 3 STRIVE-ON trial meets endpoint; announces up to $30M private placement

Grace Therapeutics, Inc.

Phase 3 STRIVE-ON safety trial met primary endpoint: 19% reduction in clinically significant hypotension vs oral nimodipine; NDA submission expected H1 2025.
Private placement of up to ~$30M gross proceeds ($15M upfront + up to $15M from warrant exercise); led by Nantahala Capital and ADAR1 Partners.
Net proceeds ~$13.8M after fees; expected close Feb 11, 2025; funds for general corporate purposes and GTx-104 pre-commercial development.
54% of GTx-104 patients achieved ≥95% relative dose intensity vs 8% on oral nimodipine; favorable functional outcomes and fewer ICU days observed.
Common warrants exercisable at $3.395/share; expire on earlier of 60 days post-FDA approval or Sep 25, 2028.

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