GRI Bio Reports $3 Million Net Loss in Q1 2025, Increases R&D Spending

GRI Bio, Inc. reported a net loss of $3.0 million for the first quarter of 2025, compared to a net loss of $1.9 million for the same period in 2024. The company's total operating expenses increased to $3.1 million from $1.9 million year-over-year, driven primarily by a rise in research and development costs, which reached $1.6 million, up from $933,000 in the prior year. General and administrative expenses also rose to $1.4 million from $962,000, reflecting increased personnel costs and professional fees. As of March 31, 2025, GRI Bio had cash and cash equivalents of approximately $3.3 million, down from $5.0 million at the end of 2024.

The company experienced significant changes in its financial position, including a notable increase in current liabilities, which rose to $2.8 million from $1.7 million at the end of 2024. This increase was attributed to higher accounts payable and accrued expenses. GRI Bio's accumulated deficit reached $42.8 million as of March 31, 2025, reflecting ongoing operational losses since its inception. The weighted average number of shares outstanding increased significantly to 525,447 shares due to a series of reverse stock splits, including the most recent one-for-seventeen split effective February 21, 2025.

Strategically, GRI Bio is focused on advancing its lead product candidate, GRI-0621, an oral inhibitor targeting severe fibrotic lung diseases. The company has received regulatory clearances to initiate a Phase 2a biomarker study for GRI-0621 in the U.S., U.K., and Australia, with interim data expected in the second quarter of 2025. Additionally, GRI Bio has been actively raising capital through various offerings, including an At The Market Offering Agreement that has generated approximately $3.6 million in gross proceeds as of March 31, 2025.

Operationally, GRI Bio's employee headcount and engagement metrics have not been disclosed in the filing. However, the company has indicated plans to increase its workforce to support its research and development efforts. The company is also exploring additional funding avenues to sustain its operations and continue its clinical trials. GRI Bio's management has expressed confidence that existing cash reserves will be sufficient to fund operations through the third quarter of 2025, but acknowledges the need for further capital to support ongoing and future projects.

Looking ahead, GRI Bio anticipates continued operating losses as it invests in the development of its product candidates. The company is actively seeking additional funding through equity and debt arrangements to ensure it can meet its operational needs and advance its clinical programs. The management has indicated that failure to secure adequate funding could lead to significant operational adjustments, including potential reductions in development activities.