GRI Bio Reports $2.9 Million Net Loss in Q2 2025, Focuses on Clinical Development

GRI Bio, Inc. reported its financial results for the second quarter of 2025, revealing a net loss of $2.9 million, compared to a net loss of $2.3 million for the same period in 2024. For the six months ending June 30, 2025, the company recorded a net loss of $5.9 million, up from $4.1 million in the prior year. Total operating expenses for the second quarter increased to $2.9 million from $2.3 million year-over-year, driven primarily by a significant rise in research and development costs, which reached $1.9 million, up from $877,000 in the previous year. General and administrative expenses decreased slightly to $1.0 million from $1.4 million.

The company’s financial position showed a slight increase in cash and cash equivalents, totaling $5.1 million as of June 30, 2025, compared to $5.0 million at the end of 2024. However, total liabilities rose to $2.4 million from $1.7 million, largely due to an increase in accounts payable and accrued expenses. GRI Bio's accumulated deficit also grew to $45.7 million, reflecting ongoing operational losses since its inception in 2009.

Strategically, GRI Bio has focused on advancing its lead product candidate, GRI-0621, an oral inhibitor targeting severe fibrotic lung diseases. The company has completed enrollment for a Phase 2a biomarker study, with topline results expected in the third quarter of 2025. Additionally, GRI Bio has been active in capital raising, securing approximately $5.0 million from its April 2025 securities purchase agreement and generating $4.3 million from its At The Market Offering, which has sold 908,172 shares at an average price of $5.01 per share.

Operationally, GRI Bio has made significant strides in its clinical development programs, with GRI-0621 evaluated in over 1,700 patients. The company is also preparing to advance GRI-0803, a candidate for autoimmune disorders, pending additional funding. As of June 30, 2025, GRI Bio's employee headcount remained stable, supporting its ongoing research and development efforts. The company anticipates continued increases in operating expenses as it progresses through clinical trials and expands its product pipeline.

Looking ahead, GRI Bio acknowledges the need for substantial additional funding to support its operations and development programs. The company plans to pursue further capital through equity and debt financing, although it faces uncertainty regarding the availability of such financing. Management has indicated that existing cash reserves should suffice to fund operations into the fourth quarter of 2025, but there is substantial doubt about the company's ability to continue as a going concern without securing additional funding.