Grace Therapeutics, Inc. reported the fiscal year ended March 31, 2026 results: net income net loss of $7.8 million, EPS $0.47 loss per share.
“The Company reported a net loss of $7.8 million, or $0.47 loss per share for the fiscal year ended March 31, 2026”
Carrie D'Andrea departed as Vice President of Clinical Operations at Grace Therapeutics, Inc..
“Carrie D’Andrea will cease serving as Vice President of Clinical Operations of the Company and will no longer be employed by the Company effective June 5, 2026”
Governance Changes
Grace Therapeutics, Inc.: Adoption of Certificate of Incorporation and Bylaws in Delaware following domestication (effective 2024-10-07).
“The Charter and the Bylaws became effective as of October 7, 2024.”
Governance Changes
Grace Therapeutics, Inc.: Adoption of Notice of Articles and Articles of Acasti British Columbia following continuance (effective 2024-10-01).
“The Notice of Articles and the Articles became effective as of October 1, 2024.”
Earnings Releases
Grace Therapeutics, Inc. reported the quarter ended December 31, 2023 results: net income $2.4 million, EPS $0.21 per share.
“The Company reported a net loss of $2.4 million, or $0.21 per share, for the three months ended December 31, 2023”
Brian Ford was removed as Interim Chief Financial Officer at Grace Therapeutics, Inc..
“Concurrently with such appointment, the Board removed Brian Ford from the position of interim-Chief Financial Officer.”
Robert J. DelAversano was appointed as Principal Financial Officer and Principal Accounting Officer at Grace Therapeutics, Inc..
“On January 5, 2024, the Board of Directors (the “Board”) of Acasti Pharma Inc. (the “Company”) approved the appointment of Robert J. DelAversano, the Company's Vice President, Finance, to the roles of principal financial officer and principal accounting officer of the Company, effective immediately.”
Auditor Changes
Grace Therapeutics, Inc. engaged KPMG LLP (U.S.) as its auditor.
“On December 11, 2023, in connection with the Company’s dismissal of E&Y, the Audit Committee recommended to the Board and the Board approved the engagement of KPMG LLP (U.S.) ("KPMG") as its new independent registered public accounting firm to audit the Company’s financial statements for the fiscal year ending March 31, 2024.”
Auditor Changes
Grace Therapeutics, Inc. dismissed Ernst & Young LLP (Canada) as its auditor.
“Ernst & Young LLP (Canada) (“E&Y”) was previously the principal independent accounting firm for Acasti Pharma Inc. (the “Company”). On December 11, 2023, the Audit Committee (the “Audit Committee”) of the Company's Board of Directors (the “Board”) recommended to the Board and the Board approved the dismissal of E&Y as the Company’s independent registered public accounting firm. The report of E&Y on the consolidated financial statements of the Company as of and for the fiscal year ended March 31, 2023 did not contain any adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles.”
Earnings Releases
Grace Therapeutics, Inc. reported three months ended September 30, 2023 results: net income Net loss $3.3 million or $0.43 per share, EPS $0.43 per share.
“Net loss $3.3 million or $0.43 per share for the three months ended September 30, 2023 decreased by $1.7 million from the net loss of $5.0 million or $0.66 per share for the three months ended September 30, 2022.”
Material Agreements
Grace Therapeutics, Inc. entered into Settlement Agreement with Aker BioMarine Antarctic AS valued at approximately $2.6 million remaining disputed balance (effective 2023-10-18).
“On October 18, 2023, Acasti Pharma Inc. (the “Company”) entered into a Settlement Agreement with Aker BioMarine Antarctic AS, a corporation organized and existing under the laws of the Kingdom of Norway (“AKBM”), to settle any and all potential claims regarding amounts due under that certain supply agreement, dated October 25, 2019, by and between the Company and AKBM (the “Supply Agreement”).”
Shareholder Votes
Grace Therapeutics, Inc. shareholders approved Advisory Vote to Approve Named Executive Officer Compensation at the 2023-10-10 meeting.
“Proposal No. 3 – Advisory Vote to Approve Named Executive Officer Compensation The proposal to approve, on an advisory basis, the compensation of the Company’s named executive officers as described in the Proxy Statement was approved by the shareholders by the following vote: For % For Against % Against Abstain % Abstain Non-Vote 2,730,102 97.24% 68,055 2.42% 9,389 0.33% 1,271,115”
Shareholder Votes
Grace Therapeutics, Inc. shareholders approved Appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm at the 2023-10-10 meeting.
“Proposal No. 2 – Appointment of Ernst & Young LLP The proposal to appoint Ernst & Young LLP as the Company’s independent registered public accounting firm until the close of the Company’s next annual meeting shareholders and to authorize the Company’s board of directors to fix their remuneration was approved by the shareholders by the following vote: For % For Against % Against Abstain % Abstain Non-Vote 3,982,999 97.65% 81,017 1.99% 14,644 0.36% 1”
Shareholder Votes
Grace Therapeutics, Inc. shareholders approved Election of Directors at the 2023-10-10 meeting.
“Proposal No. 1 – Election of Directors The following nominees were elected as directors by the votes indicated to serve until the Company’s next annual meeting of shareholders, as set forth in the Proxy Statement: Nominee Votes For % Votes For Withheld % Votes Withheld Non-Vote Vimal Kavuru 2,746,424 97.82% 61,122 2.18% 1,271,115 A. Brian Davis 2,761,502 98.36% 46,044 1.64% 1,271,115 S. George Kottayil 2,758,885 98.27% 48,662 1.73% 1,271,115 Prashant Kohli 2,758,939 98.27% 48,607 1.73% 1,271,115 Edward Neugeboren 2,759,075 98.27% 48,471 1.73% 1,271,115”
Material Agreements
Grace Therapeutics, Inc. entered into Purchase Agreement with certain institutional and accredited investors valued at approximately $7.3 million (effective 2023-09-24).
“On September 24, 2023, Acasti Pharma Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with certain institutional and accredited investors in connection with a private placement offering of the Company's securities (the “Offering”).”
Earnings Releases
Grace Therapeutics, Inc. reported fiscal quarter ended June 30, 2023 results: net income $4.0 million, EPS $0.54 per share.
“Acasti Pharma Inc. issued a press release announcing its financial results for the fiscal quarter ended June 30, 2023.”
Governance Changes
Grace Therapeutics, Inc.: Approved an amendment to the Articles of Incorporation to implement a 1-for-6 reverse stock split, effective July 10, 2023 (effective 2023-07-10).
“On June 29, 2023, the Board of Directors (the “Board”) of Acasti Pharma Inc. (the “Company”) approved an amendment to the Company's Articles of Incorporation to implement a reverse stock split of the Company’s Class A common shares, no par value per share (the “Common Shares”), at a ratio of 1-for-6 (the “Reverse Stock Split”). Thereafter, on July 4, 2023, the Company filed Articles of Amendment to its Articles of Incorporation (the “Articles of Amendment”) with the Registraire des entreprises du Québec , to implement the Reverse Stock Split. The Reverse Stock Split will be effective as of 12:01 a.m. (Eastern Time) on July 10, 2023”
Earnings Releases
Grace Therapeutics, Inc. reported the fiscal year ended March 31, 2023 results: net income $(42.4) million, EPS $(0.95) loss per share.
“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.”
George Kottayil was terminated as Chief Operating Officer (US) at Grace Therapeutics, Inc..
“On May 8, 2023, the Company terminated the employment of Brian Ford, Chief Financial Officer; Pierre Lemieux, Chief Operating Officer (Canada); and George Kottayil, Chief Operating Officer (US).”
Pierre Lemieux was terminated as Chief Operating Officer (Canada) at Grace Therapeutics, Inc..
“On May 8, 2023, the Company terminated the employment of Brian Ford, Chief Financial Officer; Pierre Lemieux, Chief Operating Officer (Canada); and George Kottayil, Chief Operating Officer (US).”
Brian Ford was terminated as Chief Financial Officer at Grace Therapeutics, Inc..
“On May 8, 2023, the Company terminated the employment of Brian Ford, Chief Financial Officer; Pierre Lemieux, Chief Operating Officer (Canada); and George Kottayil, Chief Operating Officer (US).”
Amresh Kumar was appointed as VP of Program Management at Grace Therapeutics, Inc..
“On May 8, 2023, the Company appointed Amresh Kumar, PhD, as its VP of Program Management, effective May 15, 2023.”
Carrie D'Andrea was appointed as VP Clinical Operations at Grace Therapeutics, Inc..
“On May 8, 2023, the Company appointed Carrie D'Andrea as its VP Clinical Operations, effective immediately.”
Dr. R. Loch Macdonald was appointed as Chief Medical Officer at Grace Therapeutics, Inc..
“On May 8, 2023, the Company appointed Dr. R. Loch Macdonald, MD, PhD, as Chief Medical Officer, effective immediately.”
Jan D'Alvise departed as Director at Grace Therapeutics, Inc..
“Ms. D'Alvise will also be stepping down from the Company's board of directors.”
Jan D'Alvise departed as Chief Executive Officer at Grace Therapeutics, Inc..
“succeeding Jan D'Alvise, who has mutually agreed with the Company to depart.”
Prashant Kohli was appointed as Chief Executive Officer at Grace Therapeutics, Inc..
“On April 4, 2023, Acasti Pharma Inc. (the "Company") announced it has appointed Prashant Kohli as the Company's Chief Executive Officer, succeeding Jan D'Alvise, who has mutually agreed with the Company to depart.”
Jean-Marie (John) Canan resigned as director at Grace Therapeutics, Inc..
“On March 30, 2023, Mr. Jean-Marie (John) Canan resigned from the board of directors of Acasti Pharma Inc. (the "Company"), effective immediately.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.