GRI Bio, a clinical-stage biopharmaceutical company, reported its financial and operational results for the first quarter ended March 31, 2024. The company experienced a net loss of $1.9 million for the quarter, compared to a net loss of $2.2 million for the same period in the previous year. Research and development expenses increased to $0.9 million, up from $0.1 million year-on-year, primarily due to the development of their lead product candidate GRI-0621. General and administrative expenses also rose slightly to $1.0 million from $0.9 million. The company's cash position as of March 31, 2024, was $4.1 million, following a public offering that netted $4.4 million after offering costs. GRI Bio's lead product candidate, GRI-0621, is being developed for the treatment of severe fibrotic lung diseases, including idiopathic...Show More

GRI Bio, a clinical-stage biopharmaceutical company, reported its financial and operational results for the first quarter ended March 31, 2024. The company experienced a net loss of $1.9 million for the quarter, compared to a net loss of $2.2 million for the same period in the previous year. Research and development expenses increased to $0.9 million, up from $0.1 million year-on-year, primarily due to the development of their lead product candidate GRI-0621. General and administrative expenses also rose slightly to $1.0 million from $0.9 million. The company's cash position as of March 31, 2024, was $4.1 million, following a public offering that netted $4.4 million after offering costs. GRI Bio's lead product candidate, GRI-0621, is being developed for the treatment of severe fibrotic lung diseases, including idiopathic pulmonary fibrosis. The company has commenced enrollment for a Phase 2a biomarker study of GRI-0621, with interim data expected in Q3 2024 and topline results anticipated in Q4 2024. Additionally, GRI Bio is advancing GRI-0803, targeting autoimmune disorders, with plans to file an IND for a Phase 1a and 1b trial in the second half of 2024. The company's future plans include continuing clinical trials and advancing their product development efforts. However, GRI Bio acknowledges the need for substantial additional funding to support ongoing operations and development plans, with current cash expected to last into Q3 2024.