{"id":815071,"date":"2025-02-19T16:20:33","date_gmt":"2025-02-19T21:20:33","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gri-bio-announces-reverse-stock-split\/"},"modified":"2025-02-19T16:20:33","modified_gmt":"2025-02-19T21:20:33","slug":"gri-bio-announces-reverse-stock-split","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gri-bio-announces-reverse-stock-split\/","title":{"rendered":"GRI Bio Announces Reverse Stock Split"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <em>GRI\u2019s common stock is expected to begin trading on a post-split adjusted basis on February 24, 2025<\/em>\n      <\/p>\n<p align=\"justify\">\n        <strong>LA JOLLA, CA, Feb.  19, 2025  (GLOBE NEWSWIRE) &#8212; <\/strong><br \/>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=MzcPI4Nne-gM9Y7IcrvoQNVonsr-sxSgaMIIl8GMorqA_B5Lg8fWbPdlBY6JIGy97U4a6Zc22KT2nbZICLkmUw==\" rel=\"nofollow\" target=\"_blank\">GRI Bio, Inc.<\/a> (NASDAQ: GRI) (\u201cGRI Bio\u201d or the \u201cCompany\u201d), a biotechnology company advancing an innovative pipeline of Natural Killer T (\u201cNKT\u201d) cell modulators for the treatment of inflammatory, fibrotic and autoimmune diseases, today announced that the board of directors of the Company approved a\u00a01-for-17 reverse stock split (the \u201cReverse Split\u201d) of the Company\u2019s common stock. The Reverse Split was approved by the stockholders of the Company at a special meeting of the Company held on February 11, 2025. The Reverse Split will legally take effect at 4:01 p.m. Eastern Time, on February 21, 2025. The Company\u2019s common stock will open for trading under a new CUSIP number 3622AW 403 on The Nasdaq Capital Market on February 24, 2025, on a split-adjusted basis under the current ticker symbol \u201cGRI.\u201d The Reverse Split is intended to increase the per share trading price of the Company\u2019s common stock to enable the Company to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market.<\/p>\n<p align=\"justify\">The\u00a01-for-17 Reverse Split will automatically convert every seventeen (17) current shares of the Company\u2019s common stock into one (1) share of common stock. No fractional shares will be issued in connection with the reverse stock split. Stockholders who would otherwise hold a fractional share of the Company\u2019s common stock following the reverse stock split will receive a cash payment in lieu thereof at a price equal to that fractional share to which the stockholder would otherwise be entitled multiplied by the closing sale price of the common stock on The Nasdaq Capital Market, as adjusted for the reverse stock split, on February 21, 2025.<\/p>\n<p align=\"justify\">The Reverse Split will reduce the number of shares of outstanding common stock from approximately 8,933,366 shares, the number of shares outstanding as of February 18, 2025, to approximately 525,492 shares. The total authorized number of shares will not be reduced. Proportional adjustments will also be made to the exercise and conversion prices of the Company\u2019s outstanding stock options, warrants, and convertible securities, and to the number of shares issued and issuable under the Company\u2019s stock incentive plans.<\/p>\n<p align=\"justify\">Stockholders holding their shares electronically in book-entry form are not required to take any action to receive post-split shares. Stockholders owning shares through a bank, broker, or other nominee will have their positions automatically adjusted to reflect the Reverse Split, subject to brokers\u2019 particular processes, and will not be required to take any action in connection with the reverse stock split. For those stockholders holding physical stock certificates, the Company\u2019s transfer agent, Broadridge Corporate Issuers Solutions, Inc., will send instructions for exchanging those certificates for shares held electronically in book-entry form or for new certificates, in either case representing the post-split number of shares, and any payments in cash in lieu of fractional shares, if applicable.<\/p>\n<p align=\"justify\">\n        <strong>About GRI Bio, Inc.<\/strong>\n      <\/p>\n<p align=\"justify\">GRI Bio is a clinical-stage biopharmaceutical company focused on fundamentally changing the way inflammatory, fibrotic and autoimmune diseases are treated. GRI Bio\u2019s therapies are designed to target the activity of Natural Killer T (\u201cNKT\u201d) cells, which are key regulators earlier in the inflammatory cascade, to interrupt disease progression and restore the immune system to homeostasis. NKT cells are innate-like T cells that share properties of both NK and T cells and are a functional link between the innate and adaptive immune responses. Type I invariant NKT (\u201ciNKT\u201d) cells play a critical role in propagating the injury, inflammatory response, and fibrosis observed in inflammatory and fibrotic indications. GRI Bio\u2019s lead program, GRI-0621, is an inhibitor of iNKT cell activity and is being developed as a novel oral therapeutic for the treatment of idiopathic pulmonary fibrosis, a serious disease with significant unmet need. The Company is also developing a pipeline of novel type 2 diverse NKT (\u201cdNKT\u201d) agonists for the treatment of systemic lupus erythematosus. Additionally, with a library of over 500 proprietary compounds, GRI Bio has the ability to fuel a growing pipeline.<\/p>\n<p align=\"justify\">\n        <strong>Forward Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This press release contains \u201cforward-looking statements\u201d within the meaning of the \u201csafe harbor\u201d provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccontemplate,\u201d \u201ccould,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cseek,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201ctarget,\u201d \u201caim,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwould,\u201d or the negative of these words or other similar expressions. These forward-looking statements are based on the Company\u2019s current beliefs and expectations. Forward-looking statements include, but are not limited to, statements regarding: the timing and effectiveness of the Reverse Split; the Company\u2019s ability to regain compliance with the Nasdaq minimum bid price and other listing requirements; the Company\u2019s expectations with respect to development and commercialization of the Company\u2019s product candidates; the timing of initiation or completion of clinical trials and availability of resulting data, the potential benefits and impact of the Company\u2019s clinical trials and product candidates and any implication that the data or results observed in preclinical trials or earlier studies or trials will be indicative of results of later studies or clinical trials. Actual results may differ from the forward-looking statements expressed by the Company in this press release and consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including, without limitation: (1) the inability to maintain the listing of the Company\u2019s common stock on Nasdaq and to comply with applicable listing requirements; (2) changes in applicable laws or regulations; (3) the inability of the Company to raise financing in the future; (4) the success, cost and timing of the Company\u2019s product development activities; (5) the inability of the Company to obtain and maintain regulatory clearance or approval for its respective products, and any related restrictions and limitations of any cleared or approved product; (6) the inability of the Company to identify, in-license or acquire additional technology; (7) the inability of the Company to compete with other companies currently marketing or engaged in the development of products and services that the Company is currently developing; (8) the size and growth potential of the markets for the Company\u2019s products and services, and their respective ability to serve those markets, either alone or in partnership with others; (9) the failure to achieve any milestones or receive any milestone payments under any agreements; (10) inaccuracy in the Company\u2019s estimates regarding expenses, future revenue, capital requirements and needs for and the ability to obtain additional financing; (11) the Company\u2019s ability to protect and enforce its intellectual property portfolio, including any newly issued patents; and (12) other risks and uncertainties indicated from time to time in the Company\u2019s filings with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d), including the risks and uncertainties described in the \u201cRisk Factors\u201d section of the Company\u2019s most recent Annual Report on Form 10-K filed with the SEC on March 28, 2024 and subsequently filed reports. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.<\/p>\n<p>\n        <strong>Investor Contact:<\/strong><br \/>\n        <br \/>JTC Team, LLC<br \/>Jenene Thomas<br \/>(908) 0824-0775<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=6cBIhegmdMS8zeg_wHOMP5JDBGVi_xs3Xe1NEh_h3otxIR1DXa8YWboHAkFSuIvq9kggDuMuVu0-r_kWwTkJsA==\" rel=\"nofollow\" target=\"_blank\">GRI@jtcir.com<\/a><\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM2MTE1MiM2NzU4Nzc5IzUwMDA3NTQ4OA==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/YzE5NmQyOTUtNzcwOC00ZjE2LTg2MTQtMmE4Mjc5NWQ0MzZkLTUwMDA3NTQ4OA==\/tiny\/GRI-Bio-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>GRI\u2019s common stock is expected to begin trading on a post-split adjusted basis on February 24, 2025 LA JOLLA, CA, Feb. 19, 2025 (GLOBE NEWSWIRE) &#8212; GRI Bio, Inc. (NASDAQ: GRI) (\u201cGRI Bio\u201d or the \u201cCompany\u201d), a biotechnology company advancing an innovative pipeline of Natural Killer T (\u201cNKT\u201d) cell modulators for the treatment of inflammatory, fibrotic and autoimmune diseases, today announced that the board of directors of the Company approved a\u00a01-for-17 reverse stock split (the \u201cReverse Split\u201d) of the Company\u2019s common stock. The Reverse Split was approved by the stockholders of the Company at a special meeting of the Company held on February 11, 2025. The Reverse Split will legally take effect at 4:01 p.m. Eastern Time, on February 21, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gri-bio-announces-reverse-stock-split\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GRI Bio Announces Reverse Stock Split&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-815071","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GRI Bio Announces Reverse Stock Split - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gri-bio-announces-reverse-stock-split\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GRI Bio Announces Reverse Stock Split - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"GRI\u2019s common stock is expected to begin trading on a post-split adjusted basis on February 24, 2025 LA JOLLA, CA, Feb. 19, 2025 (GLOBE NEWSWIRE) &#8212; GRI Bio, Inc. (NASDAQ: GRI) (\u201cGRI Bio\u201d or the \u201cCompany\u201d), a biotechnology company advancing an innovative pipeline of Natural Killer T (\u201cNKT\u201d) cell modulators for the treatment of inflammatory, fibrotic and autoimmune diseases, today announced that the board of directors of the Company approved a\u00a01-for-17 reverse stock split (the \u201cReverse Split\u201d) of the Company\u2019s common stock. The Reverse Split was approved by the stockholders of the Company at a special meeting of the Company held on February 11, 2025. 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(NASDAQ: GRI) (\u201cGRI Bio\u201d or the \u201cCompany\u201d), a biotechnology company advancing an innovative pipeline of Natural Killer T (\u201cNKT\u201d) cell modulators for the treatment of inflammatory, fibrotic and autoimmune diseases, today announced that the board of directors of the Company approved a\u00a01-for-17 reverse stock split (the \u201cReverse Split\u201d) of the Company\u2019s common stock. The Reverse Split was approved by the stockholders of the Company at a special meeting of the Company held on February 11, 2025. The Reverse Split will legally take effect at 4:01 p.m. Eastern Time, on February 21, &hellip; Continue reading \"GRI Bio Announces Reverse Stock Split\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/gri-bio-announces-reverse-stock-split\/","og_site_name":"Market Newsdesk","article_published_time":"2025-02-19T21:20:33+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM2MTE1MiM2NzU4Nzc5IzUwMDA3NTQ4OA==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/gri-bio-announces-reverse-stock-split\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/gri-bio-announces-reverse-stock-split\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"GRI Bio Announces Reverse Stock Split","datePublished":"2025-02-19T21:20:33+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/gri-bio-announces-reverse-stock-split\/"},"wordCount":1207,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/gri-bio-announces-reverse-stock-split\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM2MTE1MiM2NzU4Nzc5IzUwMDA3NTQ4OA==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/gri-bio-announces-reverse-stock-split\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/gri-bio-announces-reverse-stock-split\/","name":"GRI Bio Announces Reverse Stock Split - 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