GRI Bio Reports Promising Phase 2a Results for GRI-0621
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 14h ago
0mins
Source: stocktwits
- Clinical Trial Results: GRI Bio announced that GRI-0621 significantly modulated genes related to lung injury and fibrosis progression in its Phase 2a study for Idiopathic Pulmonary Fibrosis, suggesting the drug may alter disease trajectory.
- Safety and Tolerability: Prior Phase 2a results indicated favorable safety and tolerability, with treated patients maintaining lung function at twice the rate of standard care, highlighting the potential clinical value of GRI-0621.
- Market Reaction: Despite the encouraging new data, GRI shares fell 20%, leading to speculation about short selling; however, retail sentiment on Stocktwits shifted to 'extremely bullish', reflecting confidence in the drug's prospects.
- Reverse Split: Last week, GRI Bio announced a 1-for-28 reverse stock split to comply with Nasdaq's minimum bid price requirement, reducing outstanding shares from approximately 15 million to 536,000, aimed at boosting the stock price for continued listing.
Analyst Views on GRI
Wall Street analysts forecast GRI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GRI is 23.00 USD with a low forecast of 10.00 USD and a high forecast of 36.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 5.320
Low
10.00
Averages
23.00
High
36.00
Current: 5.320
Low
10.00
Averages
23.00
High
36.00
About GRI
GRI Bio, Inc. is a clinical-stage biopharmaceutical company focused on fundamentally changing the way inflammatory, fibrotic and autoimmune diseases are treated. The Company’s therapies are designed to target the activity of Natural Killer T (NKT) cells, which are key regulators earlier in the inflammatory cascade, to interrupt disease progression and restore the immune system to homeostasis. Its 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. The Company is also developing a pipeline of novel type II diverse NKT agonists for the treatment of systemic lupus erythematosus. Its product candidate portfolio also includes GRI-0803 and a proprietary library of more than 500 compounds. It is developing GRI-0803 for the treatment of autoimmune disorders, with much of its preclinical work in systemic lupus erythematosus disease (SLE) and multiple sclerosis (MS).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
