Grace Therapeutics Inc · Q3 2022 earnings

Briefing

Acasti Pharma reported financial results for the third quarter of fiscal year 2022 and provided a business update.

Acasti Pharma reported a net loss of $3.8 million, or $0.09 per share, for the third quarter of fiscal 2022, compared to a net loss of $3.2 million, or $0.26 per share, for the same period in 2020. The company's research and development expenses increased due to the new clinical assets acquired in the merger with Grace Therapeutics, Inc. The company had cash, cash equivalents and short-term investments of $46.3 million as of December 31, 2021.

• Loss from operating activities for the quarter was $4.5 million, compared to a loss of $2.0 million for the same period in 2020.
• Net loss for the quarter was $3.8 million or $0.09 per share, compared to a net loss of $3.2 million or $0.26 per share for the same period in 2020.
• Research and development expenses totaled $2.0 million compared to $0.62 million for the same period in 2020.
• Cash, cash equivalents and short-term investments totaled $46.3 million as of December 31, 2021.

Headline financials

Revenue & EPS history

Acasti expects to reach significant additional key milestones in 2022, including PK bridging study results for GTX-102, SAD and MAD study results and the initiation of a Phase 2 trial for GTX-101.