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STOCK-BASED COMPENSATION - Vallon - Q1 (Tables)
 9 Months Ended
Sep. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Stock-based Compensation Expense
The Company recorded stock-based compensation related to stock options issued under the Private GRI Plan and the A&R 2018 Plan in the following expense categories of its accompanying statements of operations for the three and nine months ended September 30, 2023 and 2022:
For the Three Months Ended September 30,For the Nine Months Ended September 30,
2023202220232022
Research and development$— $— $— $— 
General and administrative326 — 351 — 
Total$326 $— $351 $— 
Schedule of Valuation Assumptions
The Black-Scholes option-pricing model was used to estimate the grant date fair value of each stock option grant at the time of grant using the following weighted-average assumptions:
For the Nine Months Ended September 30,
20232022
Volatility129.54 %90.39 %
Expected term in years5.845.98
Dividend rate0.00 %0.00 %
Risk-free interest rate4.34 %2.00 %
Fair value of option on grant date$2.13 $3.86 
GRI Bio, Inc. (Formerly Vallon Pharmaceuticals, Inc.)  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Stock-based Compensation Expense
Vallon recorded stock-based compensation related to stock options issued under the Vallon’s 2018 Equity Incentive Plan (2018 Plan) in the following expense categories of its accompanying statements of operations for the three months ended March 31, 2023 and 2022:
For the Three Months Ended March 31,
20232022
Research and development$6 $18 
General and administrative79 163 
Total$85 $181 
Activity of Stock Options Granted
The table below represents the activity of stock options granted to employees and non-employees for the three months ended March 31, 2023:
Number of optionsWeighted average exercise priceWeighted average remaining contractual term (years)
Outstanding at December 31, 202223,142$118.05 8.05
Granted— — 
Exercised— — 
Forfeited— — 
Outstanding at March 31, 202323,142$118.05 7.80
Exercisable at March 31, 202313,112$106.79 7.53
Schedule of Valuation Assumptions
The Black-Scholes option-pricing model was used to estimate the grant date fair value of each stock option grant at the time of grant using the following weighted-average assumptions:
For the Three Months Ended March 31, 2022
Volatility88.65 %
Expected term in years6.06
Dividend rate0.00 %
Risk-free interest rate1.95 %
Fair value of option on grant date$128.70