GRI Stock Down on Public Offering Despite Encouraging IPF Study Data

GRI Bio, Inc.’s (GRI) shares plummeted 36.9% on April 1 after the company announced the pricing of a public offering of stock of $5 million.Earlier in the day, the stock surged after the company reported positive interim safety results from its ongoing phase IIa study evaluating pipeline candidate GRI-0621 for the treatment of idiopathic pulmonary fibrosis (IPF).Last month, the company received notice from The Nasdaq Stock Market LLC stating that it regained compliance with Nasdaq’s “minimum bid price rule. ...