GRI Bio, Inc.
GRI evidence brief
What we can confirm
- BioSniper Score:
- 6.8 / 10
- Market Cap:
- $4.2M
- Lead Asset:
- gri-0621 (Phase 2)
What it means
What to watch
Prepared research question
What matters most for GRI—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · GRI
GRI Bio, Inc. (GRI) is a clinical-stage biopharmaceutical company developing oral NKT cell modulators for inflammatory, fibrotic, and autoimmune diseases, with lead candidate GRI-0621 in Phase 2a for idiopathic pulmonary fibrosis.
Key risk: Going concern risk
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$4.2M
Cash Runway
—
Lead Asset
gri-0621 (Phase 2)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 2 pipeline candidates · 1 clinical trial for GRI Bio, Inc..
GRI Bio, Inc. (GRI) is a clinical-stage biopharmaceutical company developing oral NKT cell modulators for inflammatory, fibrotic, and autoimmune diseases, with lead candidate GRI-0621 in Phase 2a for idiopathic pulmonary fibrosis.
- Cash & equivalents of $10.9M as of 2026-06-30 [sec]
- Net income of -$1.6M as of 2026-06-30 [sec]
- Shareholders' equity of $10.3M as of 2026-06-30 [sec]
- Lead candidate GRI-0621 is an oral inhibitor of type 1 iNKT cells, with Phase 2a topline data expected Q3 2025 [sec_mda · as of 2025-03-14]
- GRI-0803, an oral activator of dNKT cells, is advancing through IND-enabling activities targeting autoimmune indications [news · published 2026-02-04]
What works
- Strong Phase 2a clinical data for GRI-0621 in IPF reinforce clinical proof-of-concept and therapeutic differentiation [news · published 2026-02-04]
- Company raised $6.5M in gross proceeds in January 2026, strengthening balance sheet to fund operations into Q1 2027 [news · published 2026-02-04]
- GRI-0621 is an oral inhibitor of iNKT cells, a novel mechanism with potential to be first disease-modifying therapy for IPF [sec_mda · as of 2025-03-14]
What to weigh
- Management has expressed substantial doubt about ability to continue as a going concern without additional capital [sec_mda · as of 2026-01-30]
- Completion of a Phase 2b trial for GRI-0621 requires substantial additional capital not included in current cash runway estimates [sec_mda · as of 2026-01-30]
- Net loss of $1.6M as of 2026-06-30 indicates ongoing cash burn [sec]
From the filings
Quoted directly from source documents.
Going concern risk
“Our management has expressed substantial doubt about our ability to continue as a going c”
SEC MD&A · January 30, 2026
Phase 2a data for GRI-0621
“Strong Phase 2a clinical data for GRI-0621 in idiopathic pulmonary fibrosis reinforce clinical proof-of-concept and therapeutic differentiation”
News · February 4, 2026
Risks & what to watch (3)›
Key risks
- Going concern risk — Management expressed substantial doubt about ability to continue as a going concern without additional capital [sec_mda · as of 2026-01-30]
- Phase 2b funding gap — Completion of Phase 2b trial for GRI-0621 requires substantial additional capital not in current runway [sec_mda · as of 2026-01-30]
- Net loss and cash burn — Net loss of $1.6M as of 2026-06-30 indicates ongoing cash consumption [sec]
What to watch
- Phase 2a topline data for GRI-0621 in IPF expected Q3 2025 [sec_mda · as of 2025-03-14]
- IND filing for GRI-0803 expected in 2026 [sec_mda · as of 2026-01-30]
- Cash runway and any additional capital raises to fund operations beyond Q1 2027 [news · published 2026-02-04]
Sources: News · SEC MD&A · Generated September 30, 2026 · How we verify sources →
Run GRI Bio, Inc. through your own thesis
Use the pipeline, catalyst, financial, FDA, and market facts on this page as inputs to a protocol you control.
Your protocol can:
- Turn available GRI Bio, Inc. facts into screen rules or deeper checks
- Show cited findings, blockers, and unresolved evidence together
- Save the logic and rerun it as the company evidence changes
Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.11 · 0% dilution
Lead: Phase 2
2 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
6
Total value held
$65K
| Holder | Shares | Value |
|---|---|---|
| geode capital management, llc | 18,438 | $42K |
| ubs group ag | 8,722 | $20K |
| tower research capital llc (trc) | 1,060 | $2K |
| blackrock, inc. | 7 | $16 |
| sbi securities co., ltd. | 4 | $9 |
| danske bank a/s | 2 | $5 |
Short Interest
as of Apr 30, 2026- % of float
- 9.3%
- Days to cover
- 0.9
- Shares short
- 134,378
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
GRI short interestFrequently asked questions
What is the AI investment thesis for GRI Bio, Inc.?
GRI Bio, Inc. (GRI) is a clinical-stage biopharmaceutical company developing oral NKT cell modulators for inflammatory, fibrotic, and autoimmune diseases, with lead candidate GRI-0621 in Phase 2a for idiopathic pulmonary fibrosis.
What is GRI Bio, Inc.'s lead drug candidate?
GRI Bio, Inc.'s most advanced tracked candidate is gri-0621 (Phase 2) for Idiopathic pulmonary fibrosis (IPF).
Who is the CEO of GRI Bio, Inc.?
Dr. W. Marc Hertz Ph.D. is the chief executive officer of GRI Bio, Inc. (GRI).
Where is GRI Bio, Inc. headquartered?
GRI Bio, Inc. (GRI) is headquartered in La Jolla, CA, United States.
What therapeutic areas does GRI Bio, Inc. focus on?
GRI Bio, Inc. develops therapies across Immunology, Respiratory, Nephrology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.