Vallon Pharma reports FY2022 net loss of $7.0M; merges with GRI Bio in all-stock deal

GRI Bio, Inc.

Net loss of $7.0M for FY2022 vs. $9.3M in FY2021; R&D expenses fell to $1.2M from $5.2M.
Cash and cash equivalents of $3.8M as of Dec 31, 2022.
Definitive merger agreement with GRI Bio: all-stock transaction; combined company to operate as GRI Bio, Inc. under ticker 'GRI'.
Merger expected to close in Q2 2023; focus on NKT cell regulators for inflammatory, fibrotic and autoimmune diseases.
G&A expenses rose to $5.8M from $4.1M due to evaluation of strategic alternatives.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

GRI Bio, Inc. reported the fiscal year ended December 31, 2022 results: net income $7.0 million.

Period: the fiscal year ended December 31, 2022
Net income: $7.0 million
Result: reported results

Exact text from the filing

Vallon Pharmaceuticals Reports Fiscal Year 2022 Financial Results PHILADELPHIA, PA, February 24, 2023 – Vallon Pharmaceuticals, Inc. (NASDAQ: VLON), (“Vallon” or the “Company”), today reported its financial results for the fiscal year ended December 31, 2022.

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Source: SEC EDGAR

accession 0001824293-23-000018

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