GRI BIO Inc

For the period ended Mar 31, 2024. Filed May 10, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 10, 2024

GRI$1.89+10.5%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Balance Sheets as of

Consolidated Balance Sheets

(in thousands, except share and per share amounts)

	March 31, 2024	December 31, 2023
Assets · (unaudited)
Current assets:
Cash and cash equivalents	$4,091	$1,808
Prepaid expenses and other current assets	337	1,126
Total current assets	4,428	2,934
Property and equipment, net	7	8
Operating lease right-of-use assets	152	14
Total assets	$4,587	$2,956
Liabilities and stockholders' equity
Current liabilities:
Accounts payable	$637	$1,410
Accrued expenses	999	1,270
Warrant liability	1	3
Operating lease liabilities, current	43	14
Total current liabilities	1,680	2,697
Operating lease liabilities, non-current	109	—
Total liabilities	1,789	2,697
Commitments and contingencies (Note 11)
Stockholders' equity:
Common stock, $0.0001 par value; 250,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 3,196,488 and 645,738 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	—	—
Additional paid-in-capital	36,218	31,792
Accumulated deficit	(33,420)	(31,533)
Total stockholders’ equity	2,798	259
Total liabilities and stockholders' equity	$4,587	$2,956

Consolidated Statements of Operations

(in thousands, except share and per share amounts)

	Three Months Ended March 31,
	2024	2023
Operating expenses:
Research and development	933	116
General and administrative	962	872
Total operating expenses	1,895	988
Loss from operations	(1,895)	(988)
Change in fair value of warrant liability	2	—
Interest income (expense), net	6	(1,162)
Net loss	$(1,887)	$(2,150)
Net loss per share of common stock, basic and diluted	$(0.46)	$(15.04)
Weighted-average common shares outstanding, basic and diluted	4,127,448	142,988

Consolidated Statements of Changes in Stockholders’ Equity (Deficit)

(in thousands, except shares)

Common Stock · Additional Paid-in Capital · Accumulated Deficit · Stockholders’ Deficit
Shares · Amount
Balance, December 31, 2022	142,820	$—		$16,871	$(18,496)		$(1,625)
Stock-based compensation	—	—		13	—	13
Restricted stock vesting	67	—		—	—		—
Warrant issuance	—	—		532	—		532
Net loss	—	—		—	(2,150)		(2,150)
Balance, March 31, 2023	142,887		$—		$17,416		$(20,646)	$(3,230)

Common Stock · Additional Paid-in Capital · Accumulated Deficit · Stockholders’ Equity
Shares · Amount
Balance, December 31, 2023	645,738	$—		$31,792	$(31,533)		$259
Stock-based compensation	—	—		37	—	37
Fractional share adjustment	(250)	—		—	—		—
Issuance of common stock and prefunded warrants in financing	330,450	—		4,389	—		4,389
Prefunded warrant exercise	2,220,550	—		—	—		—
Net loss	—	—		—	(1,887)		(1,887)
Balance, March 31, 2024	3,196,488		$—		$36,218		$(33,420)	$2,798

Consolidated Statements of Cash Flows

(in thousands)

	Three Months Ended March 31,
	2024	2023
Operating activities:
Net loss	$(1,887)	$(2,150)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation expense	1	1
Amortization of debt discounts and issuance costs	—	1,161
Stock-based compensation expense	37	13
Change in fair value of warrant liability	(2)	—
Reduction in operating lease right of use assets	14	12
Change in operating assets and liabilities:
Prepaid expenses and other current assets	564	28
Accounts payable	(744)	408
Accrued expenses	(172)	(36)
Operating lease liabilities	(14)	(16)
Cash used in operating activities	(2,203)	(579)
Financing activities:
Advances from employees	—	190
Repayment of advances from employees	—	(195)
Proceeds from issuance of bridge promissory note	—	1,250
Proceeds from issuance of common stock and prefunded warrants	5,500	—
Payment of stock issuance costs	(1,014)	(110)
Payment of debt issuance costs	—	(105)
Cash provided by financing activities	4,486	1,030
Net increase in cash and cash equivalents	2,283	451
Cash and cash equivalents at beginning of period	1,808	9
Cash and cash equivalents at end of period	$4,091	$460
Supplemental disclosure of non-cash financing activities:
Recognition of debt discount and additional paid-in-capital for issuance of warrants in connection with the issuance of promissory notes	$—	$532
Recognition of right of use assets and lease liabilities	$152	$—
Debt and stock issuance costs included in accounts payable	$97	$45
Property and equipment purchases included in accounts payable	$—	$8

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.