Revenue: As of FY2026 Q1, the actual value is USD 0.

EBIT: As of FY2026 Q1, the actual value is USD -2 M, beating the estimate of USD -2.4 M.

Cash and Cash Equivalents

Cash and cash equivalents totaled approximately $11.0 million as of March 31, 2026, compared to approximately $8.2 million as of December 31, 2025.

Research and Development Expenses

Research and development expenses were approximately $0.4 million for the three months ended March 31, 2026, compared to approximately $1.6 million for the same period in 2025. The decrease was primarily related to lower expenses due to the completion of GRI Bio, Inc.’s Phase 2a clinical trial of GRI-0621 in 2025.

General and Administrative Expenses

General and administrative expenses were approximately $1.6 million for the three months ended March 31, 2026, compared to approximately $1.4 million for the same period in 2025.

Net Loss

Net loss for the quarter ended March 31, 2026, was approximately - $2.0 million, compared to approximately - $3.0 million for the same period in 2025.

Proceeds from At The Market Facility

GRI Bio, Inc. generated approximately $6.8 million in gross proceeds during the first quarter of 2026 through its At The Market facility.

Operational Metrics - Phase 2a Data for GRI-0621 in IPF

In the active arm of the Phase 2a clinical trial for GRI-0621 in IPF, zero cough was observed, a 76% reduction in dyspnea was noted, and no weight loss occurred, contrasting with the placebo arm’s results. A 61% reduction in diarrhea was observed, despite 67% more nintedanib use in the active arm versus the placebo arm. No serious adverse events were reported in the active arm, and exploratory pulmonary function showed a +99 mL FVC improvement overall, and +139 mL in the SOC combination subset, versus placebo + SOC at 12 weeks.

Outlook / Guidance

GRI Bio, Inc. believes its current cash resources are sufficient to fund planned operating expenses and capital expenditure requirements into the second quarter of 2027. The company is advancing GRI-0621 towards pivotal studies and progressing GRI-0803 toward IND-enabling activities.