GRI Bio Announces Closing of $8.0 Million Public Offering

Core Viewpoint - GRI Bio, Inc. has successfully closed a public offering of 10,666,667 shares of common stock and Series F warrants, raising approximately $8.0 million for product development and general corporate purposes [1][3]. Group 1: Offering Details - The public offering was priced at $0.75 per share, with Series F warrants exercisable at the same price [1]. - The Series F warrants are immediately exercisable and will expire five years from the issuance date [1]. - H.C. Wainwright & Co. served as the exclusive placement agent for this offering [2]. Group 2: Financial Implications - The gross proceeds from the offering were approximately $8.0 million before deducting fees and expenses [3]. - If fully exercised, the Series F warrants could provide an additional $8.0 million in gross proceeds [3]. - The net proceeds will be allocated towards product candidate development, working capital, and general corporate purposes [3]. Group 3: Company Overview - GRI Bio is a clinical-stage biopharmaceutical company focused on treating inflammatory, fibrotic, and autoimmune diseases through NKT cell modulation [6]. - The lead program, GRI-0621, targets iNKT cell activity for treating idiopathic pulmonary fibrosis, addressing a significant unmet medical need [6]. - The company is also developing a pipeline of NKT agonists for systemic lupus erythematosus and has a library of over 500 proprietary compounds [6].