Grace Therapeutics raises $10 million in private placement for GTx-104

Grace Therapeutics, Inc. (Nasdaq: GRCE) announced on August 4, 2026 that it had signed a securities purchase agreement for a private placement with new and existing investors. The financing was expected to result in aggregate gross proceeds of approximately $10 million, before deducting placement agent fees and other offering expenses.¹ The company said it plans to use the net proceeds to support the manufacturing and regulatory work needed to advance GTx-104.¹

Under the deal, Grace Therapeutics agreed to issue 4,761,904 shares of common stock at $2.10 per share¹, priced at the market under Nasdaq rules. The financing was expected to close on August 6, 2026, subject to customary closing conditions.¹ A related 8-K filing confirmed the gross proceeds were approximately $10 million before fees and expenses, and the offering closed on August 6, 2026.¹ Craig-Hallum Capital Group LLC acted as placement agent for the offering.¹

A Form D filed with the SEC showed nine investors had already invested in the offering², with total offering and amount sold both listed at $9,999,998², and sales commissions estimated at $560,000².

GTx-104 is described as a clinical-stage, novel, injectable formulation of nimodipine being developed for IV infusion to address unmet medical needs in patients with aneurysmal subarachnoid hemorrhage (aSAH)¹. The company separately disclosed it has initiated a dual-source manufacturing strategy for GTx-104, including a technology transfer already underway to a second, U.S.-based contract manufacturer¹, following an FDA Complete Response Letter on the drug's NDA. The company expects the net proceeds from the private placement, combined with existing cash, to extend its cash runway to the end of calendar 2028.¹