GRAY - GRAY STOCK NEWS

Graybug Vision and CalciMedica have announced a definitive merger agreement to form a Nasdaq-listed biopharmaceutical company focused on innovative therapies for life-threatening inflammatory diseases. The merger is an all-stock transaction, with the combined entity expected to have approximately $35 million in cash at closing, providing a financial runway into 2024. The lead product candidate, Auxora™, aims to address conditions like acute pancreatitis, with Phase 2b trial results expected in late 2023. The merger is anticipated to close in Q1 2023.

Graybug Vision, Inc. (Nasdaq: GRAY) reported a net loss of $9.8 million for Q3 2022, up from $8.0 million in Q3 2021, with total operating expenses of $9.98 million. R&D expenses decreased to $3.2 million following workforce reductions and program terminations. For the nine months ending September 30, 2022, the net loss rose to $28.2 million from $27.1 million. As of September 30, 2022, cash and short-term investments totaled $43.6 million, believed sufficient to fund operations beyond 2023.

Graybug Vision (Nasdaq: GRAY) has announced a review of strategic alternatives to maximize shareholder value, considering options such as acquisition or asset divestiture. However, all clinical developments for GB-102, GB-401, and GB-501 are currently on hold pending this review. For Q2 2022, the company reported a net loss of $8.2 million, slightly up from $7.7 million in Q2 2021. Research and development costs remained stable at $4.1 million, while general and administrative expenses increased to $4.2 million due to higher stock-based compensation. As of June 30, 2022, Graybug had $50.7 million in cash and investments.

BALTIMORE, July 6, 2022 (GLOBE NEWSWIRE) -- Graybug Vision, a clinical-stage biopharmaceutical company, announced its platform presentation at the Ophthalmology Innovation Source (OIS) Retina Innovation Summit on July 13, 2022, in New York City. CEO Fred Guerard will discuss Graybug's pipeline focusing on drug delivery and durability. The event will take place in the Edison Ballroom at 1:32 p.m. ET. Graybug is advancing therapies for ocular diseases like wet age-related macular degeneration and glaucoma, utilizing innovative drug delivery systems.

Graybug Vision, Inc. (Nasdaq: GRAY) announced a comprehensive review of strategic alternatives to maximize shareholder value. This includes exploring acquisitions, mergers, or asset divestitures. As of March 31, 2022, the company's cash and investments totaled $55.3 million. CEO Frederic Guerard emphasized the importance of this evaluation for shareholders while implementing cost-containment measures to preserve cash resources. Graybug has retained Piper Sandler Companies as a financial advisor for this process. There is no assurance of a transaction outcome, and further announcements will depend on specific developments.

Graybug Vision, Inc. (Nasdaq: GRAY) announced that Chief Medical Officer Parisa Zamiri will present an update on the clinical development plan for GB-102 in wet age-related macular degeneration at the Clinical Trials at the Summit Meeting on May 21, 2022. GB-102 is a microparticle formulation of sunitinib aimed at providing twice-per-year intravitreal injections to treat nAMD, with potential benefits for diabetic retinopathy patients. The event aims to enhance vitreoretinal care through expert discussions and the latest data.

Graybug Vision, Inc. (NASDAQ: GRAY) reported a net loss of $10.1 million for Q1 2022, an improvement over last year's loss of $11.4 million. The research and development expenses decreased slightly to $6.1 million. Graybug is advancing its GB-102 clinical trials for wet age-related macular degeneration and has diversified its pipeline with the acquisition of GB-501, targeting corneal disease. Cash reserves stand at $55.3 million, sufficient to support operations into Q4 2023. Anticipated milestones include further clinical trials for GB-102, GB-401, and GB-501 in late 2022 and 2023.

Graybug Vision, Inc. (NASDAQ: GRAY) announced the presentation of preclinical data for its drug GB-401 at the ARVO Annual Meeting in Denver from May 1-4, 2022. GB-401 is a sustained-release intravitreal implant aimed at treating primary open-angle glaucoma (POAG). The presentation will include in vitro and in vivo characterizations of GB-401, showcasing its potential benefits for POAG patients. This event will allow the company to engage with the scientific community and investors, highlighting their innovative approach to ocular disease therapies.

Graybug Vision, a clinical-stage biopharmaceutical company, announced its participation in the ASCRS Annual Meeting in Washington, D.C., from April 22-26, 2022. The company will present on the intrastromal delivery of AAV-IDUA for treating MPS1-associated corneal clouding, led by Dr. Parisa Zamiri on April 25. Graybug's candidates focus on ocular diseases, with its most advanced drug, GB-102, targeting wet age-related macular degeneration. The presentation will be accessible on their website post-event.