GRI Bio, Inc. - GRI STOCK NEWS

GRI Bio (NASDAQ: GRI) reported Q2 2024 financial results and provided a corporate update. Key highlights include:

1. Phase 2a biomarker study of GRI-0621 for Idiopathic Pulmonary Fibrosis (IPF) on track with interim data expected in Q4 2024 and topline data in Q1 2025.

2. Net loss of $2.4 million for Q2 2024.

3. R&D expenses at $0.9 million, G&A expenses at $1.4 million.

4. Cash and equivalents of $6.4 million as of June 30, 2024.

5. Closed a public offering with gross proceeds of $4.0 million.

6. Cash runway expected into Q1 2025.

7. Expanded IP protection with Korean patent grant.

8. Presented positive preclinical data for GRI-0621 in IPF and GRI-0803 for systemic lupus erythematosus.

GRI Bio (NASDAQ: GRI), a biotechnology company focused on developing Natural Killer T (NKT) cell modulators for inflammatory, fibrotic, and autoimmune diseases, has announced its participation in the Virtual Investor Lunch Break Series on July 17, 2024, at 12:00 PM ET. The event will feature a corporate overview and business outlook presented by CEO Marc Hertz, PhD.

Investors can join the live video webcast and participate in a Q&A session. The presentation will be available on the company's website, with a replay accessible for 90 days following the event. This presentation offers an opportunity for stakeholders to gain insights into GRI Bio's innovative pipeline and future prospects.

GRI Bio (NASDAQ: GRI), a biotechnology firm specializing in NKT cell modulators for inflammatory, fibrotic, and autoimmune diseases, has released a Virtual Investor 'What This Means' segment. CEO Marc Hertz, PhD, emphasizes the significance of interim data from their Phase 2a biomarker study on Idiopathic Pulmonary Fibrosis (IPF) for the GRI-0621 program. This segment delves into the implications of the data for GRI Bio's ongoing IPF study. The video is available for viewing on the Virtual Investor website.

GRI Bio, a biotechnology company, has regained compliance with Nasdaq listing standards as of July 2, 2024. The company, known for its Natural Killer T cell modulators targeting inflammatory, fibrotic, and autoimmune diseases, received a notice from Nasdaq indicating that it meets all requirements for continued listing on the Nasdaq Capital Market. Consequently, the scheduled hearing before the Hearings Panel has been canceled. CEO Marc Hertz expressed excitement over this development and emphasized the company's focus on advancing their core business objectives.

GRI Bio has published promising preclinical data for its lead program, GRI-0621, in the American Journal of Respiratory and Critical Care Medicine. The study shows that inhibiting type 1 invariant NKT (iNKT) cell activity can reduce fibrosis and inflammation in a mouse model of Idiopathic Pulmonary Fibrosis (IPF). Compared to controls, GRI-0621-treated mice exhibited significant improvements in lung histology, decreased fibrosis scores, and reduced lung inflammation. The company is advancing a Phase 2a biomarker study of GRI-0621 in IPF patients, with interim results expected in Q3 2024 and topline data in Q4 2024.

GRI Bio, a biotechnology company specializing in Natural Killer T (NKT) cell modulators for treating inflammatory, fibrotic, and autoimmune diseases, is set to present at the 8th Annual IPF Summit. The event will take place from August 20-22, 2024, in Boston, MA.

Vipin Kumar Chaturvedi, PhD, the Chief Scientific Officer of GRI Bio, will deliver a presentation titled 'Examining the Underlying Mechanism & Patients Subject to the Therapeutic Potential of NKT-Cell Targeting.' This session will be part of the 'Exploring the Clinical Promise of Emerging Modalities & Targets from NKT-Cells to ADCs, Small RNA Inhibitors, Nanotechnology for Fibrosis Control' segment scheduled for August 22, 2024, from 8:00-8:30 AM ET.

For more details, attendees are encouraged to visit the conference website.

GRI Bio announced the closing of its $4.0 million public offering. The offering included 2,185,793 shares of common stock and Series C-1 and C-2 warrants to purchase additional shares, all priced at $1.83 per share. The Series C-1 warrants expire five years from the initial exercise date, while the Series C-2 warrants expire eighteen months from the initial exercise date. H.C. Wainwright & Co. acted as the exclusive placement agent. Gross proceeds before fees and expenses were approximately $4.0 million, with potential additional gross proceeds of $8.0 million if all warrants are exercised for cash. Proceeds will be used for product development, working capital, and general corporate purposes. The offering was made via an effective registration statement on Form S-1, declared effective by the SEC on June 26, 2024.

GRI Bio has been granted Patent No. 10-2665487 by the Korean Intellectual Property Office for its Natural Killer T (NKT) cell modulators.

The patent covers compositions and methods for modulating type 2 and/or type 1 invariant NKT (iNKT) cells to treat inflammatory, fibrotic, and autoimmune conditions through the administration of a Retinoic Acid Receptor (RAR) agonist.

CEO Marc Hertz emphasized the importance of this patent in expanding their intellectual property portfolio and advancing their clinical programs.

GRI Bio's lead program, GRI-0621, is currently in a Phase 2a trial for Idiopathic Pulmonary Fibrosis (IPF), with interim data expected in Q3 2024 and topline results in Q4 2024.

GRI Bio, a biotechnology company specializing in Natural Killer T cell modulators for treating inflammatory, fibrotic, and autoimmune diseases, has announced the pricing of a $4 million public offering. This offering includes 2,185,793 shares of common stock or equivalents, Series C-1 and Series C-2 warrants to purchase up to 2,185,793 shares each, all priced at $1.83 per share or equivalent. The Series C-1 warrants will expire five years after the initial exercise date, and the Series C-2 warrants will expire eighteen months after. The offering is expected to close around June 28, 2024. H.C. Wainwright & Co. is acting as the exclusive placement agent. The gross proceeds from the offering could increase by an additional $8 million if all Series Warrants are fully exercised. The net proceeds will be used for product candidate development, working capital, and general corporate purposes.