G
GRI Bio, Inc.
GRICIK 0001824293NasdaqEmerging GrowthPharmaceutical PreparationsDelawareGBFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-11.96M
Total Assets
$8.67M
Equity
$6.01M
Shares Out
1.45M
Op. Cash Flow
$-10.19M
Business
GRI Bio, Inc. is a clinical-stage biopharmaceutical company that discovers, develops and commercializes therapies that modulate Natural Killer T (NKT) cells to treat inflammatory, fibrotic and autoimmune disorders. Its main product candidates include GRI-0621, an oral iNKT cell inhibitor derived from oral tazarotene, and GRI-0803, an oral dNKT cell agonist, supported by a proprietary library of 500+ compounds. The company organizes operations around its development pipeline and clinical programs for NKT-targeting therapeutics. It conducts multinational clinical trials and retains worldwide development and commercialization rights while evaluating strategic collaborations for geographic commercialization in the United States, EU, United Kingdom and other markets.
Summary from filing dated 2025-03-14
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Research and development | 7 | 4 | 3 | 242,000 | 5 | |
| General and administrative | 5 | 4 | 8 | 2 | 4 | |
| Total operating expenses | 12 | 8 | 11 | 2 | 9 | |
| Loss from operations | −12 | −8 | −11 | −2 | −9 | |
| Change in fair value of warrant liability | 0 | 3,000 | 182,000 | 0 | — | |
| Interest income | 21,000 | 25,000 | −2 | −653,000 | −16,000 | |
| Net loss | −12 | −8 | −13 | −3 | −9 | |
| Deemed dividend on Series B Warrants | 0 | −2 | 0 | — | — | |
| Net loss available to common stockholders | −12 | −10 | −13 | — | — | |
| Net loss per share of common stock, basic (in usd per share) | −121.8 | −1,546 | −5,018 | −24.95 | −1.42 | |
| Net loss per share of common stock, diluted (in usd per share) | −121.8 | −1,546 | −5,018 | −24.95 | −1.42 | |
| Weighted-average common shares outstanding, basic (in shares) | 98,162 | 6,547 | 2,598 | 128,994 | 7 | |
| Weighted-average common shares outstanding, diluted (in shares) | 98,162 | 6,547 | 2,598 | 128,994 | 7 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 8 | 5 | 2 | 9,000 | 4 | |
| Prepaid expenses and other current assets | 363,000 | 587,000 | 1 | 303,000 | 619,000 | |
| Total current assets | 9 | 6 | 3 | 312,000 | 8 | |
| Property and equipment, net | 3,000 | 4,000 | 8,000 | 4,000 | 0 | |
| Operating lease right-of-use assets | 71,000 | 120,000 | 14,000 | 67,000 | — | |
| Total assets | 9 | 6 | 3 | 383,000 | 8 | |
| Accounts payable | 2 | 897,000 | 1 | 1 | 918,000 | |
| Accrued expenses | 750,000 | 691,000 | 1 | 36,000 | 1 | |
| Operating lease liabilities, current | 56,000 | 48,000 | 14,000 | 57,000 | — | |
| Total current liabilities | 3 | 2 | 3 | 2 | 2 | |
| Operating lease liabilities, non-current | 15,000 | 71,000 | 0 | 14,000 | — | |
| Total liabilities | 3 | 2 | 3 | 2 | 3 | |
| Commitments and contingencies (Note 10) | — | — | — | — | — | |
| Common stock, $0.0001 par value; 250,000,000 shares authorized; 497,693 and 18,768 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 0 | 0 | 0 | 0 | 0 | |
| Additional paid-in-capital | 58 | 44 | 32 | 17 | 28 | |
| Accumulated deficit | −52 | −40 | −32 | −18 | −22 | |
| Total stockholders' equity | 6 | 4 | 259,000 | −2 | −5 | |
| Total liabilities and stockholders' equity | 9 | 6 | 3 | 383,000 | 8 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation expense | 4,000 | 4,000 | 4,000 | 3,000 | — | |
| Stock-based compensation expense | 793,000 | 148,000 | 388,000 | 25,000 | 626,000 | |
| Change in fair value of warrant liability | 0 | −3,000 | −182,000 | 0 | — | |
| Change in operating lease right of use assets | 48,000 | — | 53,000 | 47,000 | — | |
| Change in operating lease right of use assets | — | −105,000 | — | — | — | |
| Prepaid expenses and other current assets | 251,000 | 313,000 | −547,000 | −35,000 | −55,000 | |
| Accounts payable | 663,000 | −387,000 | 2 | 897,000 | −308,000 | |
| Accrued expenses | 59,000 | −479,000 | 125,000 | 696,000 | 583,000 | |
| Operating lease liabilities | −48,000 | 105,000 | −57,000 | −43,000 | — | |
| Cash used in operating activities | −10 | −9 | −9 | −1 | −8 | |
| Purchase of property and equipment | −3,000 | 0 | −8,000 | −3,000 | 0 | |
| Cash used in investing activities | −3,000 | 0 | −8,000 | −3,000 | −4 | |
| Proceeds from warrant exercise | 0 | 762,000 | 12,000 | 0 | — | |
| Payment for fractional shares in connection with reverse stock split | −1,000 | −1,000 | 0 | — | — | |
| Payment of deferred stock issuance costs | −2 | −2 | −517,000 | −111,000 | — | |
| Cash provided by financing activities | 13 | 12 | 11 | 1 | 16 | |
| Net increase in cash and cash equivalents | 3 | 3 | 2 | −81,000 | 4 | |
| Stock issuance costs included in accounts payable | 278,000 | 0 | 226,000 | 340,000 | — | |
| Issuance of warrants for payment of stock issuance costs | 440,000 | 287,000 | 18,000 | 0 | — |
Filings
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