LA JOLLA, CA — February 4, 2026 — Leads & Copy —
GRI Bio, Inc. (NASDAQ: GRI), a biotechnology company focused on immune cell modulators for inflammatory, fibrotic, and autoimmune diseases, has released its Full Year 2025 financial results, provided an update on its cash position, and summarized key clinical and corporate highlights.
The company reported $8.2 million in cash and cash equivalents as of December 31, 2025, and raised an additional $6.5 million in gross proceeds in January 2026. The company believes that this will fund operations into Q1 2027.
According to Marc Hertz, PhD, Chief Executive Officer of GRI Bio, the company prioritized clinical execution and balance sheet strength in 2025, delivering clinical data from its lead IPF program GRI-0621, which underscores therapeutic differentiation. In 2026, the company will focus on advancing GRI-0621 in IPF, progressing GRI-0803 toward the clinic and executing its clinical strategy with capital discipline to drive long-term value creation.
Recent highlights include:
The company raised approximately $14.5 million in gross proceeds in December 2025 and January 2026 and announced positive Phase 2a topline data from the completed Phase 2a clinical study of GRI-0621 in idiopathic pulmonary fibrosis.
Additional data demonstrating suppression of pro-fibrotic immune phenotypes were reported, reinforcing topline data and clinical proof-of-concept. New RNA-sequencing gene expression data demonstrating direct impact on the core biology of fibrosis and lung repair were generated.
The company also advanced plans to progress GRI-0803 into IND-enabling studies, expanding the Company’s pipeline in autoimmune disease.
As of December 31, 2025, the company had cash and cash equivalents of approximately $8.2 million. Following the close of the quarter, the company raised an additional $6.5 million in gross proceeds through the use of its At The Market offering. Based on the company’s current operating plan, GRI Bio believes that its existing cash and cash equivalents will be sufficient to fund operating expenses and capital expenditure requirements into the first quarter of 2027.
Net loss was $12 million for the year ended December 31, 2025.
Research and development expenses were $6.8 million and $3.8 million for the years ended December 31, 2025 and 2024, respectively. The $3.0 million increase in research and development expenses was primarily due to increases of $2.9 million in expenses related to the registration development program of GRI-0621, $0.1 million in personnel expense, including stock-based compensation and a $0.1 million increase in consulting fees.
General and administrative expenses were $5.2 million and $4.5 million for the years ended December 31, 2025 and 2024, respectively. The $0.7 million increase was primarily due to an increase of $0.7 million in personnel costs, including stock-based compensation expense.
GRI Bio is a clinical-stage biopharmaceutical company focused on changing the way inflammatory, fibrotic and autoimmune diseases are treated. The company’s therapies target the activity of immune cells, such as Natural Killer T (“NKT”) cells. GRI Bio’s lead program, GRI-0621, is an Immunomodulator and anti-fibrotic RARβγ agonist developed as a novel oral therapeutic for the treatment of idiopathic pulmonary fibrosis.
The Company is also developing a pipeline of novel type 2 diverse NKT (“dNKT”) agonists for the treatment of serious autoimmune diseases with significant unmet need. Additionally, with a library of over 500 proprietary compounds, GRI Bio has the ability to fuel a growing pipeline.
Source: GRI Bio, Inc.
