Vallon Pharmaceuticals to Merge with GRI Bio

(24/7 MARKET NEWS) – Vallon Pharmaceuticals, Inc. (NASDAQ: VLON) announced, after yesterday’s market close, that it plans to merge with a privately held GRI Bio, Inc., a biotechnology company advancing a pipeline of Natural Killer T (“NKT”) cell regulators for the treatment of inflammatory, fibrotic and autoimmune diseases. The companies will hold a joint webcast this morning at 8:30 a.m. EST.

Vallon is trading higher in this morning’s premarket, at $$0.6194, up $0.3678 (+146.18%), on about 4 million shares traded.

Its 52-week range is $0.2054 to $8.40. Its next inflection point is this morning’s premarket high of $0.7208; if it breaks through that resistance on strong volume, it has a favorable setup for a potential run past the $1 or even much higher.

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