Executive Summary
GRI Bio Inc (GRI) reported a Q3 2024 non-revenue quarter with a net loss of $2.123 million on operating expenses of $2.13 million and an EBITDA of -$2.129 million. The absence of revenue in a Phase II/Phase I clinical-stage biotech underscores the company’s early-stage operating profile and its dependence on external financing to sustain R&D activities. Cash and cash equivalents stood at $4.746 million at quarter-end, with net cash burn from operating activities of $2.269 million for the period; financing activities provided a net $0.661 million, and the company ended the period with a net decrease in cash of $1.607 million. The balance sheet shows modest current assets relative to a modest liability base, and a substantial accumulated deficit reflected in negative retained earnings, highlighting the persistent capital-intensive nature of biotech R&D and the need for ongoing fundraising to advance the pipeline.
GRI’s pipeline spans GRI0621 (Phase II for idiopathic pulmonary fibrosis), GRI0803 (Phase I for systemic lupus erythematosus), and preclinical programs (GRI0124 for primary sclerosing cholangitis, GRI0729). Additionally, ADAIR/ADMIR targets ADHD, signaling a diversified but early-stage portfolio. In the near term, investors should monitor clinical milestones, potential licensing or collaboration deals, and the company’s ability to secure additional equity or debt financing to fund ongoing development. Absent an earnings call transcript in the provided data, management commentary is not embedded here, limiting the inclusion of direct quotes and nuanced qualitative takeaways from leadership.
Key Performance Indicators
QoQ: -1 604.48% | YoY:-132.11%
Key Insights
Revenue: N/A
Gross Profit: N/A
Operating Income: -$2.13 million (YoY +5.63% reportedly; QoQ 0.00%)
Net Income: -$2.123 million (YoY +5.64%; QoQ 0.00%)
EPS: -$0.67 (Diluted -$0.67); YoY -132.11%; QoQ -1,604.48%
EBITDA: -$2.129 million
Cash Flow: Net cash used in operating activities -$2.269 million; Free cash flow -$2.269 million
Cash and equivalents: $4.746 million at period-end
Total current assets: $5.323 million; Total assets: $5.459 million
Total current liabilities: $1.715 million; Total li...
Financial Highlights
Revenue: N/A
Gross Profit: N/A
Operating Income: -$2.13 million (YoY +5.63% reportedly; QoQ 0.00%)
Net Income: -$2.123 million (YoY +5.64%; QoQ 0.00%)
EPS: -$0.67 (Diluted -$0.67); YoY -132.11%; QoQ -1,604.48%
EBITDA: -$2.129 million
Cash Flow: Net cash used in operating activities -$2.269 million; Free cash flow -$2.269 million
Cash and equivalents: $4.746 million at period-end
Total current assets: $5.323 million; Total assets: $5.459 million
Total current liabilities: $1.715 million; Total liabilities: $1.799 million; Stockholders' equity: $3.660 million
Net debt: -$4.615 million (cash exceeds debt by $4.615 million)
Current ratio: 3.10x; Quick ratio: 3.10x; Cash ratio: 2.77x
Debt: $131k total debt; Long-term debt: $84k; Short-term debt: $47k
Valuation/metrics: P/B 0.312x; P/E negative; Enterprise value multiples ~1.63x; Cash flow related ratios show negative operating cash flows but strong liquidity signals on a per-share basis
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Operating Income |
-2.13M |
5.63% |
0.00% |
| Net Income |
-2.12M |
5.64% |
0.00% |
| EPS |
-0.67 |
-132.11% |
-1 604.48% |
Key Financial Ratios
operatingCashFlowPerShare
$-0.72
freeCashFlowPerShare
$-0.72
Management Commentary
Transcript highlights are not available in the provided data. No earnings call transcript was supplied, so management quotes and thematic guidance from the QQ3 2024 call could not be incorporated. If a transcript becomes available, we will extract thematic quotes by category (strategy, operations, market conditions) with attribution and context.
Forward Guidance
No formal forward guidance was disclosed in the provided QQ3 2024 data. Given the pure-play clinical-stage profile and lack of revenue, the company is reliant on ongoing financing to fund R&D and to reach potential data readouts. Investors should monitor:
- Readouts and progress for GRI0621 in IPF (Phase II) and GRI0803 in SLE (Phase I).
- Milestones for preclinical GRI0124 (PSC) and GRI0729; potential lead optimization signals.
- Any strategic collaborations or licensing discussions that could provide non-dilutive or dilute financing options.
- Capital raising activity (equity offerings, debt facilities) and its impact on share count and tenure of runway.
Overall, without visible revenue catalysts or confirmed guidance, the near-term outlook hinges on pipeline progress and access to capital to fund continued development.