GRI Bio raises $14.5 mln to fund operations into Q1 2027

Overview

• Biotechnology company raised $14.5 mln in gross proceeds to fund operations into Q1 2027

• Company announced positive Phase 2a data for GRI-0621 in idiopathic pulmonary fibrosis

• Cash position expected to fund operations into Q1 2027

Outlook

• Company expects cash to fund operations into Q1 2027

• GRI Bio advancing GRI-0621 in idiopathic pulmonary fibrosis

• Company progressing GRI-0803 toward IND-enabling studies

Result Drivers

• PHASE 2A DATA - Positive Phase 2a topline data for GRI-0621 in idiopathic pulmonary fibrosis reinforced clinical proof-of-concept

• CASH POSITION - Raised $14.5 mln in gross proceeds to support operations into Q1 2027

• PIPELINE ADVANCEMENT - GRI-0803 advancing through IND-enabling activities for autoimmune indications

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for GRI Bio Inc is $644.00, about 24,669.2% above its February 3 closing price of $2.60

Press Release: ID:nGNX96wjD4

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