Shares of GRI Bio, Inc. (GRI) more than tripled on Tuesday morning after it reported interim safety results from its ongoing Phase 2a study evaluating GRI-0621 for the treatment of Idiopathic Pulmonary Fibrosis.
GRI is currently trading at $9.51, up $6.31 or 197.19%, on the Nasdaq. The stock opened its trading at $9.37 after closing Monday at $3.20. The stock has traded between $3.05 and $165.75 in the past 52-week period.
GRI-0621, is the company's small molecule RAR-ß? dual agonist that inhibits the activity of human Type 1 Invariant NKT cells. In preliminary clinical trials to date and previous clinical trials with the oral formulation, GRI-0621 has been shown to improve fibrosis in multiple disease models and improve liver function tests and other markers of inflammation and injury in patients.
The pre-planned interim analysis for 2-week safety results from the ongoing Phase 2a biomarker study demonstrated GRI-0621 to be safe and well-tolerated in the first 12 patients evaluated per protocol.
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