GRI Bio delivered its QQ4 2024 results with a modest revenue base and a material operating loss, reflecting the company’s ongoing clinical-stage development and the absence of commercial products. Revenue for the quarter was $2.298 million, with gross profit of $2.298 million and an operating loss of $1.955 million. Net income came in at a loss of $1.948 million, translating to basic and diluted EPS of -$0.40. The company’s cash burn from operating activities was approximately $2.00 million for the quarter, and cash and cash equivalents stood at $5.03 million at period-end. Management commentary (not provided in the supplied transcript) historically emphasizes pipeline advancement and the potential for strategic partnerships to extend runway and fund late-stage development.
From a financing and liquidity perspective, the quarterly burn coupled with ongoing R&D and G&A expenses indicates a tight liquidity runway absent external financing or milestone-based inflows. The R&D spend for QQ4 2024 was $829k, while SG&A ran $1.125 million, underpinning a structure typical of early-stage biotech with limited or no commercial product revenue. The balance sheet shows a strong apparent equity base juxtaposed against modest current liabilities, though noted data inconsistencies in the reported totals warrant careful verification. Looking ahead, the key near-term catalysts will hinge on clinical readouts from GRI0621 (IPF) in Phase II and GRI0803 (SLE) in Phase I, as well as potential corporate collaborations that could de-risk and fund portions of the pipeline. Investors should monitor data readouts and any capital-raising activity as the company navigates its path toward value inflection.