LA JOLLA, CA - GRI Bio, Inc. (NASDAQ: GRI), a biotechnology firm focused on inflammatory, fibrotic, and autoimmune diseases, announced positive preclinical findings for its lead compound GRI-0621 at the American Thoracic Society International Conference.
The data, presented in San Diego between May 17-22, 2024, indicates that GRI-0621, a selective inhibitor of type 1 invariant Natural Killer T (iNKT) cells, may reduce fibrosis and inflammation in Idiopathic Pulmonary Fibrosis (IPF).
In the preclinical studies, mice treated with GRI-0621 showed a decrease in fibrosis score and total lung inflammation compared to controls. These results suggest that inhibiting iNKT cell activity can modulate fibrotic conditions in IPF, a chronic pulmonary disease characterized by lung scarring and limited oxygen transfer.
Dr. Albert Agro, Chief Medical Officer of GRI Bio, shared that the data supports the potential of GRI-0621 for IPF treatment. The company's NKT cell modulator platform aims to develop novel biomarkers and therapeutic targets that may differentiate stages of fibrosis progression.
GRI-0621, a small molecule RAR-βγ inhibitor, has been shown to improve fibrosis in multiple disease models and improve markers of inflammation and injury in preliminary trials. The ongoing Phase 2a biomarker study of GRI-0621 aims to evaluate its safety, tolerability, and effect on biomarkers in IPF patients, with interim data expected in Q3 2024 and topline data in Q4 2024.
The company plans to leverage the 505(b)(2) regulatory pathway for GRI-0621, which has been shown to inhibit the production of TGFβ and VCAM-1 and reduce immune cell infiltration in an animal model. Current treatments for IPF are limited, with only two approved drugs that have significant side effects and do not impact survival.
GRI Bio is also developing a pipeline of type 2 NKT agonists for the treatment of systemic lupus erythematosus (SLE) and has a library of over 500 proprietary compounds to fuel its pipeline.
The information in this article is based on a press release statement from GRI Bio, Inc. The company's forward-looking statements are subject to risks and uncertainties, and there is no assurance that the preclinical trial results will be indicative of future clinical trial outcomes.
InvestingPro Insights
As GRI Bio, Inc. (NASDAQ: GRI) continues its pursuit of innovative treatments for inflammatory, fibrotic, and autoimmune diseases, investors are closely monitoring its financial health and market performance. InvestingPro data reveals a challenging financial landscape for GRI Bio, with a market capitalization of just 1.34 million USD. The company's performance metrics reflect significant hurdles, as evidenced by an operating income of -12.04 million USD and a stark 99.04% decline in its 1-year price total return as of Q1 2024. Despite these challenges, the stock experienced a slight uptick with a 2.94% 1-week price total return, showing some signs of volatility or investor interest in the wake of the recent conference announcement.
InvestingPro Tips indicate that GRI Bio holds more cash than debt on its balance sheet, which may provide some financial flexibility in the near term. However, the company is quickly burning through cash and has not been profitable over the last twelve months. These factors, combined with weak gross profit margins and a price that has fallen significantly over various periods, paint a picture of a company that is facing significant financial headwinds.
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