GRI Bio receives Nasdaq delisting determination; plans to appeal by May 28, 2024

GRI Bio, Inc.

Received Nasdaq Staff determination letter on May 21, 2024, for non-compliance with stockholders' equity rule (Rule 5550(b)) after initial 180-day cure period ended May 20, 2024.
Despite reporting >$2.5M equity as of March 31, 2024, Nasdaq considered historical burn rate and concluded non-compliance.
Company intends to request a hearing before a Nasdaq Hearings Panel by May 28, 2024, which will automatically stay suspension/delisting pending outcome.
Panel may grant up to 180-day extension, but no guarantee of regaining compliance or continued listing.

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