GRI Bio Inc. (GRI), a clinical-stage biopharmaceutical company, announced that the board has approved a 1-for-28 reverse stock split of the common stock to regain Nasdaq compliance for the minimum bid price. Shares are down nearly 7% to $0.20 in overnight trading.
The reverse split will reduce the number of shares of outstanding common stock to 0.54 million shares from 15.02 million shares.
The reverse split is intended to increase the per-share trading price, enabling the firm to regain compliance with the minimum bid price requirement of $1.00 for continued listing on the Nasdaq.
On November 26, 2025, GRI Bio received a deficiency notice from Nasdaq indicating non-compliance with the minimum stockholders' equity requirement for continued listing on the Nasdaq Capital Market.
As per Nasdaq listing rules, a market value of less than $35 million, annual net income of less than $5 million, and maintaining stockholders' equity of at least $2.5 million are required for compliance.
The reverse split will take effect at 4:01 p.m. Eastern Time on January 23, 2026.
On a split-adjusted basis, GRI's common stock will open for trading under a new CUSIP number 3622AW 502 on the Nasdaq Capital Market on January 26, 2026.
GRI Bio's lead program, GRI-0621, is a small molecule RAR-ß? dual agonist shown to inhibit the activity of key immune cells and is being developed for the treatment of idiopathic pulmonary fibrosis.
Earlier this month, GRI Bio announced positive flow cytometry data from the Phase 2a GRI-0621-IPF-02 clinical trial evaluating GRI-0621 for the treatment of Idiopathic Pulmonary Fibrosis.
Over the year, GRI traded in a range of $0.19 and $11.9.
GRI closed Wednesday's trade at $0.22, down 4.21%.
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