Grace Therapeutics Inc. has released its financial results for the first quarter of 2026, reporting a net loss of $3.4 million for the three months ending June 30, 2025, compared to a net loss of $2.6 million for the same period in 2024. This increase in net loss was attributed primarily to a $1.9 million change in the fair value of derivative warrant liabilities and a $0.7 million decrease in income tax benefit, partially offset by a $1.8 million decrease in research and development expenses. Total research and development expenses saw a significant decrease to approximately $0.9 million for the quarter ended June 30, 2025, from $2.7 million in the previous year. This decrease was mainly due to the completion of the GTx-104 pivotal Phase 3 STRIVE-ON safety clinical trial. General and administrative expenses were approximately $2.1 million, a slight decrease from $2.2 million in the same period of 2024. As of June 30, 2025, the company reported cash and cash equivalents of $20.0 million, marking a net decrease of approximately $2.1 million from March 31, 2025. Significantly, Grace Therapeutics has submitted a New Drug Application to the FDA for GTx-104, seeking approval for its use in treating patients with aneurysmal Subarachnoid Hemorrhage (aSAH). This submission is supported by data from the Phase 3 STRIVE-ON Safety Trial, which met its primary endpoint and provided evidence of clinical benefit compared to orally administered nimodipine.