GRI Bio Stock Price, News & Analysis

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.

On June 14, 2024, GRI Bio announced a 1-for-13 reverse stock split, approved by stockholders on June 7, 2024. It will take effect on June 17, 2024, at 4:01 p.m. ET, and GRI's common stock will begin trading on a split-adjusted basis on June 18, 2024, under the ticker 'GRI' with a new CUSIP number 3622AW 304. The split aims to increase the share price to meet Nasdaq's minimum bid price requirement. Post-split, 13 shares will convert into one, reducing outstanding shares from 6,605,271 to around 508,091, while the authorized shares remain unchanged. Fractional shares will be paid in cash. Adjustments will also be made to stock options, warrants, and convertible securities.

GRI Bio (NASDAQ: GRI) will present at the Virtual Investor Pitch Conference on June 18, 2024, at 11:00 AM ET. The company specializes in developing Natural Killer T (NKT) cell modulators for treating inflammatory, fibrotic, and autoimmune diseases. During the event, CEO Marc Hertz, PhD, will deliver an elevator pitch and discuss upcoming milestones. Attendees can submit questions live, with responses given within the allotted time. The live video webcast and a replay available for 90 days can be accessed on GRI Bio's website.