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Grace Therapeutics raises $10M in private placement to fund drug development through 2028

Company Fundamentals
04 Aug 2026
GlobeNewsWire
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Bullish
Grace Therapeutics raises $10M in private placement to fund drug development through 2028

Grace Therapeutics announced a $10 million private placement to support manufacturing and regulatory work for its clinical-stage drug GTx-104, aimed at treating aneurysmal Subarachnoid Hemorrhage (aSAH). The financing, priced at $2.10 per share, is expected to close on August 6, 2026, and extend the company's cash runway to the end of 2028. The company is also implementing a dual-source manufacturing strategy to mitigate risks and expedite FDA approval. This funding is crucial for advancing GTx-104, which offers a novel IV infusion treatment potentially improving outcomes for aSAH patients.

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