India, Jan. 22 -- GRI Bio Inc. (GRI), a clinical-stage biopharmaceutical company, announced that the board has approved a 1-for-28 reverse stock split of the common stock to regain Nasdaq compliance for the minimum bid price. Shares are down nearly 7% to $0.20 in overnight trading.
The reverse split will reduce the number of shares of outstanding common stock to 0.54 million shares from 15.02 million shares.
The reverse split is intended to increase the per-share trading price, enabling the firm to regain compliance with the minimum bid price requirement of $1.00 for continued listing on the Nasdaq.
On November 26, 2025, GRI Bio received a deficiency notice from Nasdaq indicating non-compliance with the minimum stockholders' equity requi...