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Tag: NeuroBo Pharmaceuticals

  • Continued Pre-Market Rally For NeuroBo Pharmaceuticals’ (NRBO) Stock

    Continued Pre-Market Rally For NeuroBo Pharmaceuticals’ (NRBO) Stock

    As the market begins today, shares of NeuroBo Pharmaceuticals, Inc. (NASDAQ: NRBO) seem to be continuing their prior session’s gain, propelled by news of recent and successful stock transactions. The pre-market trading activity for NRBO shares showed a 12.91% increase in value, closing at $4.81.

    Equity Deals And Issues

    NeuroBo Pharmaceuticals (NRBO) has completed its previously announced private placement, in which 4,325,701 shares of common stock were sold for $3.93 a share. The business concurrently issued and sold 763,359 shares of ordinary stock at the same price through a registered direct offering.

    NeuroBo also issued unregistered Series A and Series B warrants to acquire up to 5,089,060 and 7,633,591 shares of common stock, respectively, in addition to the equity transactions. The exercise price of each set of warrants is $3.93 per share, and they can be exercised only with stockholder permission.

    The Series A warrants will expire sixty days after the public release of a favorable Phase 1 multiple ascending dose (MAD) data readout for DA-1726, or twelve months after the stockholder approval. The Series B warrants will expire either six months after the Phase 1 Part 3 data readout for DA-1726 is publicly announced or five years after the stockholder approval.

    Promising Pre-Clinical Data For DA-1726

    Recently, NeuroBo disclosed pre-clinical data indicating that DA-1726 demonstrated superior results in weight loss, retention of lean body mass, and lipid-lowering effects compared to survodutide in pre-clinical models. This data was presented by Tae-Hyoung Kim, the lead research scientist at Dong-A ST Research Center, at the American Diabetes Association (ADA) 84th Scientific Sessions held from June 21-24 in Orlando, Florida.

    The presented data highlights that DA-1726 distinguishes itself from other obesity drugs in the same class, likely due to its unique GLP-1 and glucagon receptor activity ratio. In obese mouse models, DA-1726 significantly reduced cholesterol levels and induced superior weight loss compared to survodutide, while also exhibiting better glucose-lowering effects. Notably, DA-1726 showed superior weight loss and preservation of lean body mass compared to survodutide.

  • Why did NeuroBo Pharmaceuticals Inc. (NRBO) stock surge on Monday?

    Why did NeuroBo Pharmaceuticals Inc. (NRBO) stock surge on Monday?

    NeuroBo Pharmaceuticals Inc. (NRBO) shares surged 41.49% in after-hours on Monday, July 19, 2021, and closed at $3.99 per share. Earlier in the morning session, NRBO’s stock gained 3.30% to close Monday’s session at $2.82 per share. NRBO shares have fallen 67.47% over the last 12 months, and they have moved down 3.75% in the past week. Over the past three months, the stock has lost 9.62%, while over the past six months, it has shed 53.23%.

    New Board members elected

    On July 12, 2021, NeuroBo Pharmaceuticals, Inc announced the results of the elections conducted at its Annual Meeting of Shareholders, which was held on Friday, July 9, 2021, during which Hyung Heon Kim and Andrew I. Koven were elected to the Company’s Board of Directors.

    The NeuroBo Board now consists of seven directors, six of whom are considered independent directors.

    Recent financial results announcement

    On May 17, 2021, NeuroBo Pharmaceuticals, Inc reported its financial results for the first quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • In Q1 2021, Research and development expenses were approximately $1.1million compared with approximately $2.2 million in Q1 2020.
    • General and administrative expenses were $2.2 million in Q1 2021 compared to $2.6 million in Q1 2020.
    • The company suffered a net loss of $3.3 million, or $0.15per basic and diluted share in Q1 2021 compared to a net loss of $4.8 million, or $0.30 per basic and diluted share in Q1 2020.
    • As of March 31, 2021, the company had cash and cash equivalents of $13.0 million compared with $10.1 million as of December 31, 2020.

    FY 2020 financial results announcement

    On April 15, 2021, NeuroBo Pharmaceuticals, Inc announced financial results for the year ended December 31, 2020.

    FY2020 financial highlights

    • Research and Development expenses were approximately $4.5 million for the year ended December 31, 2020, as compared to approximately $5.3 million for the year ended December 31, 2019.
    • In FY 2020, general and administrative expenses were $7.8 million compared to $2.7 million for the year ended December 31, 2019.
    • The company reported a net loss of $29.7 million, or $1.83per basic and diluted share in FY 2020 compared to a net loss of $21.3 million, or $4.08 per basic and diluted share in FY 2019.
    • As of December 31, 2020, NeuroBo Pharmaceuticals had cash and cash equivalents of $10.1 million compared with $13.9 million as of December 31, 2019.

    Conclusion

    Well, as of this writing, we have no recent news or development which could be the reason behind its exceptional performance on Monday. In the absence of any current news, it is difficult for us to predict its performance in the coming days.

  • NeuroBo (NRBO) Lost Nearly 11%, Completed Common Stock Placement

    NeuroBo (NRBO) Lost Nearly 11%, Completed Common Stock Placement

    Shares of NeuroBo Pharmaceuticals Inc. (NRBO), a clinical-stage biotechnology company that provides therapies for neurodegenerative and cardiometabolic diseases, dropped by 10.89% on Friday. The company saw its shares declined to $5.12 from a previous closing price of $5.72.

    Last week, NeuroBo completed the sale of its previously announced private placement of a total of 2,500,000 shares and warrants of its common stock. For total proceeds to the Company of $10.0 million, each share and accompanying warrant was sold at an overall purchasing price of $4.00. The warrants have an exercise price of $6.03 per share and are exercisable for a period of five and a half years, beginning six months from the date of issue.

    On December 31, 2020, NeuroBo acquired a privately held biotechnology company ANA Therapeutics. ANA-001, which is a patented niclosamide capsule formulation for coronavirus indications, has been developed by the acquired company and is presently in Phase 2/3 clinical trials as a therapy for COVID-19. The deal was voted to approve by both the Boards of Directors of NeuroBo Pharmaceuticals as well as ANA Therapeutics.

    Richard J. Kang, Ph.D., President and Chief Executive Officer of NeuroBo, said the acquisition of ANA was an exciting and disruptive move for NeuroBo that strengthens its portfolio with a late-stage health research initiative that meets the immediate need for new drugs to counter COVID-19, a highly contagious and sometimes fatal virus.

    ANA-001 is progressing along the 505(b)(2) therapeutic process, which helps NeuroBo Pharmaceuticals Inc. (NRBO) to exploit earlier niclosamide and optimize results, and speeds up the processes for patients with COVID-19 to access this potentially life-saving treatment. As a result, a number of significant targets over the next 12 to 18 months are accompanied by the production schedule, including the data readout of the Phase 2 component of the trial, scheduled in the third quarter of 2021.