GRI Bio Reports Third Quarter 2024 Financial Results and Outlines Progress Towards Clinical Data Readout of GRI-0621 in Ongoing Phase 2a Study for Idiopathic Pulmonary Fibrosis

Core Viewpoint - GRI Bio, Inc. is advancing its lead program GRI-0621 for the treatment of idiopathic pulmonary fibrosis (IPF), with significant progress in development and a strong cash position to support upcoming clinical milestones [2][4]. Financial Summary - The company raised $13.9 million in gross proceeds since the beginning of 2024, extending its cash runway into mid Q1 2025 [1]. - As of September 30, 2024, GRI Bio had cash and cash equivalents of approximately$4.7 million [8]. - The net loss for the nine months ended September 30, 2024, was $6.3 million, with research and development expenses of$2.9 million [7]. Clinical Development - GRI-0621 is a small molecule RAR-βɣ dual agonist that inhibits the activity of human invariant Natural Killer T (iNKT) cells, showing promise in improving fibrosis and liver function in preliminary trials [5]. - The company plans to report interim data from the Phase 2a biomarker study in Q1 2025 and topline results in Q2 2025 [7]. Recent Highlights - Positive preclinical data for GRI-0621 was presented at the 22nd International Colloquium on Lung and Airway Fibrosis, demonstrating its ability to inhibit iNKT cell activity and reduce inflammatory drivers in IPF [3]. - The company received authorization to conduct a Phase 2a biomarker study in Australia and expanded its intellectual property protection with a new patent in Japan [3]. Market Opportunity - Current treatments for IPF are limited to two approved drugs that have significant side effects and do not impact overall survival, indicating a substantial opportunity for GRI-0621 as a new therapeutic option [4].