Summary by Moomoo AI
On November 14, 2024, GRI Bio, Inc., a clinical-stage biopharmaceutical company, announced its financial results for the third quarter ending September 30, 2024, and provided a business update. The company, which focuses on developing treatments for inflammatory, fibrotic, and autoimmune diseases, reported a net loss of $6.3 million for the nine months ended September 30, 2024. Research and development expenses were $2.9 million, while general and administrative expenses amounted to $3.3 million for the same period. GRI Bio highlighted its strengthened cash position, with $13.9 million in gross proceeds raised since the beginning of 2024, extending its cash runway into mid-Q1 2025. The company's lead program, GRI-0621, is progressing towards an interim data readout in Q1 2025, with topline data expected in Q2 2025. GRI-0621 is a small molecule RAR-βɣ dual agonist targeting iNKT...Show More