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

Reuters

Feb 04

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

Metric	Beat/Miss	Actual	Consensus Estimate
FY Net Income		-$12 mln

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

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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For any other questions or feedback, contact reuters.support@thomsonreuters.com.(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}