Grace Therapeutics Announces $10 Million Private Placement Financing to Support GTx-104 Development and Extend Cash Runway to 2028

Grace Therapeutics has announced a $10 million private placement financing, issuing 4,761,904 shares of common stock at $2.10 per share, with the placement expected to close on August 6, 2026, subject to customary closing conditions. The net proceeds will support manufacturing and regulatory work for GTx-104, a novel injectable formulation of nimodipine being developed for IV infusion in aneurysmal subarachnoid hemorrhage (aSAH) patients. The company estimates that, combined with existing cash, the funding will extend its cash runway to the end of calendar year 2028.