GRI Bio, Inc. (GRI) Tuesday has priced its public offering at $3.60 per share, including Series Warrants, aiming to raise approximately $5 million before fees.
The offering includes 1,388,888 shares of common stock, with warrants exercisable at $3.20 per share. If fully exercised, the Series Warrants could generate an additional $13.3 million, though there is no guarantee of exercise. The offering is expected to close around April 2, 2025, subject to standard conditions, with H.C. Wainwright & Co. acting as the exclusive placement agent.
Proceeds will fund product development, working capital, and corporate expenses. The company's lead program, GRI-0621, targets idiopathic pulmonary fibrosis, with additional research into systemic lupus erythematosus. Despite a 52% stock decline in the past week, GRI Bio holds a market capitalization of $2.83 million and a current ratio of 3.43, indicating strong liquidity.
Separately, GRI Bio announced interim safety results from its Phase 2a study of GRI-0621, with an Independent Data Monitoring Committee supporting the trial's continuation. The company also secured two global patents for its Natural Killer T cell modulators, reinforcing its intellectual property.
Additionally, GRI Bio regained Nasdaq compliance regarding minimum bid price requirements and received stockholder approval for a reverse stock split, which could improve market interest and ensure continued listing. These developments align with the company's strategic growth initiatives.
GRI is currently trading at $3.0501 or 4.6844% lower on the Nasdaq Capital Market.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.