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GRI

GRI Bio, Inc.

GRI

GRI Bio, Inc. • NASDAQ
$2.00 ▲ 1.01% (+0.02)
Market Cap $5.03 M
52w High $16.91
52w Low $1.10
Dividend Yield 0%
P/E 0.12
Volume 101.62K
Outstanding Shares 2.52M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $0 ▼ $2.897M ▼ $-2.892M ▲ 0% ▲ $-1.31 ▲ $-2.896M ▲
Q1-2025 $22.538M ▲ $3.051M ▲ $-3.046M ▼ -13.515% ▼ $-5.8 ▲ $-3.05M ▼
Q4-2024 $0 $1.953M ▼ $-1.947M ▲ 0% $-7.86 ▲ $-1.952M ▲
Q3-2024 $0 $2.13M ▼ $-2.123M ▲ 0% $-11.42 ▲ $-2.129M ▲
Q2-2024 $0 $2.257M $-2.25M 0% $-61.85 $-2.256M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $5.122M ▲ $5.675M ▲ $2.353M ▼ $3.322M ▲
Q1-2025 $3.281M ▼ $4.042M ▼ $2.837M ▲ $1.205M ▼
Q4-2024 $5.028M ▲ $5.739M ▲ $1.707M ▼ $4.032M ▲
Q3-2024 $4.746M ▼ $5.459M ▼ $1.799M ▼ $3.66M ▼
Q2-2024 $6.353M $7.031M $2.312M $4.719M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-2.892M ▲ $-3.166M ▼ $0 ▲ $5.007M ▲ $1.841M ▲ $-3.166M ▼
Q1-2025 $-3.046M ▼ $-1.736M ▲ $-429K ▼ $-11K ▼ $-1.747M ▼ $-1.736M ▲
Q4-2024 $-1.948M ▲ $-1.999M ▲ $0 $2.281M ▲ $282K ▲ $-1.999M ▲
Q3-2024 $-2.122M ▲ $-2.268M ▼ $0 $661K ▼ $-1.607M ▼ $-2.268M ▼
Q2-2024 $-2.25M $-2.141M $0 $4.403M $2.262M $-2.141M

Five-Year Company Overview

Income Statement

Income Statement GRI looks like a classic early‑stage biotech: almost no revenue and steady losses. The tiny amount of recent revenue is more a proof‑of‑concept than a real business yet. Spending on research and operations runs ahead of any income, so the company is effectively a cost center built around its drug programs. The extremely volatile per‑share loss figures are more about repeated reverse stock splits than sudden swings in the underlying business, but they highlight how far the company still is from profitability.

Balance Sheet

Balance Sheet The balance sheet is very thin. Assets are almost entirely cash, and even that cash base is small. There is no meaningful debt, which is a plus, but shareholders’ equity is also minimal, reflecting accumulated losses and heavy dilution over time. The series of large reverse stock splits suggests the share count and price have had to be restructured repeatedly to stay listed, another sign of financial strain. Overall, the company has a narrow financial safety margin and depends heavily on external funding.

Cash Flow

Cash Flow Cash flow shows a simple story: money flows out to fund operations, and none is coming in from a mature product. Operating cash burn is consistent with a small clinical‑stage biotech, and there is no real investment in physical assets or equipment. Free cash flow is basically the same as operating cash flow and is negative. This means the business must periodically raise fresh capital, likely by issuing new shares or securing partnerships, to keep research and trials moving.

Competitive Edge

Competitive Edge Scientifically, GRI sits in a specialized niche: modulating NKT cells to treat inflammatory, fibrotic, and autoimmune diseases. This is an unusual and early‑stage area with relatively few direct competitors, which gives GRI some first‑mover advantages. Its small‑molecule, oral drugs and growing patent estate around NKT cell modulators offer some protection and differentiation. However, the company is tiny and pre‑commercial, facing large, well‑funded competitors in broader fibrosis and autoimmune markets. Its competitive strength today is more about unique science and patents than commercial scale or market presence.

Innovation and R&D

Innovation and R&D Innovation is the core of GRI’s story. The company is building a platform around controlling two types of NKT cells: dialing down pro‑inflammatory cells in fibrotic disease and boosting regulatory cells in autoimmune disease. The lead program, an oral drug for idiopathic pulmonary fibrosis, is in a mid‑stage trial focused on biomarkers, which is an important proof point but still far from approval. A second program aimed at lupus, plus a large proprietary compound library, shows pipeline breadth. That said, all assets are early and carry typical biotech risks: clinical failure, safety issues, regulatory setbacks, and funding challenges as trials get larger and more expensive.

Summary

GRI Bio is primarily a science and pipeline story, not yet a business with meaningful revenue. The company targets a novel immune pathway with potentially broad applications, supported by patents and a focused platform strategy. Financially, it operates with a very small asset base, persistent losses, and ongoing cash burn, relying on capital markets to fund progress. Upcoming clinical data and regulatory steps for its lead and follow‑on programs are likely to drive the company’s future direction, but the path is high‑risk and highly uncertain, as is typical for small clinical‑stage biotech firms.

NEWS

September 11, 2025 · 8:45 AM UTC

GRI Bio Reports 6-Week Interim Lung Function Data in Ongoing Phase 2a Study in Idiopathic Pulmonary Fibrosis (“IPF”)

Read more