GRI maintains a conservative capital structure with a negligible 0.01 debt-to-equity ratio, though this is offset by an accumulated deficit that has reached -$53.7 million as of 2026Q1.
| Total Current Assets | 11.28M | 8.59M | 5.62M | 2.93M | 312K | 96K | 674K | 3.92M | 637.64K |
| Cash & Short-Term Investments | 11.05M | 8.23M | 5.03M | 1.81M | 9K | 90K | 109K | 3.82M | 612.65K |
| Cash Only | 11.05M | 8.23M | 5.03M | 1.81M | 9K | 90K | 109K | 3.82M | 612.65K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 3.81M | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 231K | 363K | 587K | 1.13M | 303K | 6K | 565K | 100.86K | 24.99K |
| Total Non-Current Assets | 60K | 74K | 124K | 22K | 71K | 122K | 281K | 353.9K | 1.59K |
| Property, Plant & Equipment | 60K | 74K | 124K | 22K | 71K | 117K | 281K | 353.9K | 1.59K |
| Fixed Asset Turnover | 0.00x | - | 181.76x | - | - | - | 0.36x | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 5K | 0 | 0 | 0 |
| Total Assets | 11.34M | 8.67M | 5.74M | 2.96M | 383K | 218K | 955K | 4.28M | 639.23K |
| Asset Turnover | 0.00x | - | 3.93x | - | - | - | 0.10x | - | - |
| Asset Growth % | 199.84% | 51% | 94.15% | 671.8% | 75.69% | -77.17% | -77.66% | 568.87% | - |
| Total Current Liabilities | 794K | 2.64M | 1.64M | 2.7M | 1.99M | 4.88M | 2.23M | 807.5K | 486.29K |
| Accounts Payable | 303K | 1.84M | 897K | 1.41M | 1.29M | 57K | 1.23M | 246.33K | 286.61K |
| Days Payables Outstanding | 216.9K | - | 81.85K | 9.03K | 9.45K | 285 | - | 122.33K | 170.94K |
| Short-Term Debt | 58K | 0 | 0 | 0 | 602K | 3.5M | 152K | 85.67K | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 81K | 0 | 0 |
| Other Current Liabilities | 262K | 0 | 0 | 3K | 5K | 142K | 424K | 255.81K | 150.83K |
| Current Ratio | 14.21x | 3.25x | 3.43x | 1.09x | 0.16x | 0.02x | 0.30x | 4.86x | 1.31x |
| Quick Ratio | 14.21x | 3.25x | 3.43x | 1.09x | 0.16x | 0.02x | 0.30x | 4.86x | 1.31x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 15K | 71K | 0 | 14K | 67K | 184K | 254.36K | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 14K | 0 | 0 |
| Capital Lease Obligations | 89K | 15K | 71K | 0 | 14K | 67K | 170K | 254.36K | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 794K | 2.66M | 1.71M | 2.7M | 2.01M | 4.94M | 2.41M | 1.06M | 486.29K |
| Total Debt | 58K | 71K | 119K | 14K | 673K | 3.61M | 336K | 340.02K | 0 |
| Net Debt | -10.99M | -8.16M | -4.91M | -1.79M | 664K | 3.52M | 227K | -3.48M | -612.65K |
| Debt / Equity | 0.01x | 0.01x | 0.03x | 0.05x | - | - | - | 0.11x | - |
| Debt / EBITDA | -0.01x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 1.03x | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | -5.26x | -3.93x | -580.44x | -42.91x | -16.58x | - |
| Total Equity | 10.54M | 6.01M | 4.03M | 259K | -1.63M | -4.72M | -1.45M | 3.21M | 152.94K |
| Equity Growth % | 748.96% | 49.01% | 1456.76% | 115.94% | 65.6% | -224.9% | -145.24% | 2001.36% | - |
| Book Value per Share | 8.50 | 61.20 | 615.95 | 164.13 | -1400.86 | -407.17 | -1631.87 | 3606.96 | 171.65 |
| Total Shareholders' Equity | 10.54M | 6.01M | 4.03M | 259K | -1.63M | -4.72M | -1.45M | 3.21M | 152.94K |
| Common Stock | 0 | 0 | 0 | 0 | 1K | 352K | 227K | 18.02K | 11.25K |
| Retained Earnings | -53.69M | -51.7M | -39.74M | -31.53M | -18.5M | -15.28M | -12.6M | -7.78M | -4.31M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | -2K | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical Trial Funding Shortfall
As reported in recent financial filings, GRI's cash position of $8.2 million in 2025Q4, while improved to $11.0 million by 2026Q1, remains highly susceptible to the company's persistent R&D burn, leaving the firm with a narrow margin of safety to fund its ongoing clinical development programs.
The fluctuation in the current ratio, which spiked to 14.21 in 2026Q1, appears to be a transient artifact of capital raising rather than a sign of operational stability. Investors should monitor whether this liquidity can sustain the company through critical Phase II readouts without necessitating further dilutive equity offerings.
Based on the company's reported figures, retained earnings have plummeted to -$53.7 million as of 2026Q1, reflecting the cumulative impact of years of non-revenue-generating R&D activities that have consistently eroded the firm's book value and necessitated frequent reliance on external capital markets to maintain operations.
The persistent negative trajectory in retained earnings underscores the high-risk nature of the current business model, where shareholder value is entirely contingent on future clinical success. The reliance on equity financing to bridge this deficit suggests that existing shareholders face ongoing dilution risks as the company attempts to reach value-inflection points.
According to the balance sheet data, GRI maintains a negligible debt-to-equity ratio of 0.01 as of 2026Q1, indicating that the company has successfully avoided traditional interest-bearing liabilities, likely due to the prohibitive cost of debt for a pre-revenue biotechnology firm with no stable cash flow.
While the lack of debt preserves the company from immediate insolvency risks associated with interest payments, it also highlights a total dependence on equity markets for survival. This capital structure appears to be a necessity of the firm's current stage rather than a strategic choice, leaving it exposed to market volatility.
Based on the provided financial statements, the company's asset base is almost entirely comprised of cash, with negligible investments in property, plant, or equipment, which suggests that the firm's value is tied exclusively to intangible intellectual property that remains unproven in late-stage clinical settings.
The absence of meaningful tangible assets implies that the balance sheet provides little recovery value in the event of clinical failure. Analysts should be wary that the reported asset values may not reflect the true economic cost of the R&D pipeline, which remains highly speculative until regulatory milestones are achieved.
Quick answers to the most common questions about buying GRI stock.
As of 2025, GRI Bio, Inc. (GRI) had total assets of $8.7M including $8.6M in current assets.
GRI Bio, Inc. (GRI) carries total debt of $0.1M, offset by $8.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
GRI Bio, Inc. (GRI) has total shareholders' equity (book value) of $6.0M ($61.20 book value per share). Book value represents the net worth of the company belonging to common stock holders.
GRI Bio, Inc. (GRI) reported a current ratio of 3.25x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.