Grace Therapeutics, Inc. (NASDAQ: GRCE) is a clinical-stage biopharmaceutical company focused on developing drug candidates that have not yet received regulatory approval. The company has no approved products and generates no product revenue, funding operations through equity financings rather than commercial sales. In February 2025, Grace Therapeutics raised $13,705 thousand in net proceeds through a private placement of common stock and pre-funded warrants (FY2025, ended March 31, 2025). The prior fiscal year financing raised $7,338 thousand in net proceeds from a 2023 private placement (FY2024, ended March 31, 2024). As of June 18, 2025, there were 32 holders of record of common stock. The company does not pay dividends and states it intends to retain any future earnings for business operations. Manufacturing of drug candidates relies on third-party contract manufacturers subject to FDA current Good Manufacturing Practice requirements.

Revenue model

Grace Therapeutics generates no product revenue as of the filing date (10-K, filed 2025-06-23). Operations are funded through equity financings, including private placements of common stock and pre-funded warrants.

Products and services

The company has drug candidates in clinical development that have not received FDA or other regulatory approval. No specific product names or therapeutic indications are identified in the provided filing excerpts.

Customers and end markets

No commercial customers or end markets are identified in the filing excerpts. The company is pre-revenue and targets future pharmaceutical markets subject to FDA approval and reimbursement conditions, including Medicare and programs affected by the Inflation Reduction Act.

Value-chain role

Grace Therapeutics operates as a drug developer relying on third-party contract manufacturers for production of clinical-stage drug candidates. It does not manufacture internally and is subject to FDA review and approval for any changes in manufacturing process or location.

Geographic exposure

Primary operations are U.S.-based with potential for clinical trials outside the U.S., as noted in the filing. No specific international revenue or operational footprint is quantified in the provided excerpts.

Source: SEC 10-K, filed 2025-06-23

Industry: Pharmaceutical Preparations Peers: Allied Corp. Lucy Scientific Discovery, Inc.