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  • 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.

  • NeuroBo Pharmaceuticals Inc. (NRBO) stock Soars After Hours. Any Reasons?

    On March 18, NeuroBo Pharmaceuticals Inc. (NRBO) stock surged up in the after-hours while there is no news from the company. The latest news from the company dates back to March 15, 2022.

    During the regular trading session, the stock traded in the green with a gain of 2.87%. NRBO closed the session at $0.84 while 2.13 million shares exchanged hands. Following this, the stock’s bullish roll leaped up at 28.57% in the after-hours. Hence, the stock was trading at a price of $1.08 per share in the after-hours while the volume of shares traded was 1.94 million.

    The clinical-stage biopharmaceutical company, NeuroBo Pharmaceuticals Inc. was founded in 2017. Currently, the company has a market capitalization of $22.34 million with its 26.59 million outstanding shares.

    NRBO stock Movement

    On March 15, the company announced the appointment of Danamarie Belpulsi to its Scientific Advisory Board.

    Source: DB4C

    Thus, after having a decent gain on March 15, the stock fell under profit booking on the following day. On March 17, the stock resumed a mild bullish course which continued into March 18’s regular session. The bullishness outpoured into a huge gain in the after-hours on Friday. With no new announcement, the stock seems to have gained on external factors. Social media discussions and stock sentiment seem to have caused the stock to surge up in the after hours.

    In the past five days, NRBO has added 11.14% while its stands at a year-to-date loss of 31.15%. Moreover, the stock declined by a huge 82.35% last year.

    Recent Developments

    The recently added Dr. Belpulsi is currently, Medical Director at ICON plc, and has extensive experience in infectious diseases, cardiology, and neurology among many others.

    Previously, on January 28, the company announced having appointed D. Gordon Strickland to its Board of Directors along with the Chair of Audit Committee. With over 35 years of experience in executive leadership roles, Mr. Gordon was most recently, the Chairman of Apex Corporations.

    NRBO’s Q3 2021 Highlights

    In the third quarter of 2021, NRBO incurred a net loss of $3.5 million or $0.16 on a diluted share basis. Comparatively, the company had a net loss of $3.1 million or $0.19 per share in the year-ago period.

    Furthermore, the company ended the quarter with cash and cash equivalents of $7.0 million on September 39, 2021.

  • Here’s What you Should Know about Surging Premarket Stock of NeuroBo Pharmaceuticals, Inc. (NRBO)

    Here’s What you Should Know about Surging Premarket Stock of NeuroBo Pharmaceuticals, Inc. (NRBO)

    NeuroBo Pharmaceuticals, Inc. (NRBO) is a leading innovative biotherapeutics company engaged in the development of treatments for neuropathic and neurodegenerative diseases. One of the lead pipeline candidates of the company is ANA001 is in Phase 2/3 clinical trial for the treatment of patients with COVID-19. NB-01 in Phase 2 trial for treating painful diabetic neuropathy patients. NB-02 for treating Alzheimer’s and Gemcabene for treating dyslipidemia and acute treatment for COVID-19.

    The price of NRBO stock during the regular trading on January 21, 2022, was $1.12 with a decline of 8.12%. At last check in the premarket on January 24, 2022, the stock was significantly up by 8.93%.

    NRBO: Key Financials

    On November 15, 2021, NRBO reported its financial results for the third fiscal quarter ended September 30, 2021. Some of the key updates are as follows

    Net Loss per Share

    Basic and diluted net loss for third-quarter 2021 was $3.5 million, or $0.16 per share compared to the same period of 2020 when it was $3.1 million, or $0.19 per share.

    Assets

    The total current assets of the company in Q3 2021 were $7.84 million.

    NRBO: Events and Happenings

    On November 4, 2021, NRBO reported about the appointment of Gil Price as President and CEO of the company. He had already served in eminent positions in leading global pharmaceutical industries. On October 13, 2021, NRBO reported that the safety data of patients in Phase 2/3 studies of ANA001 was reviewed by a Data Monitoring Committee. The results recommended the continuation of the clinical trials without any further adjustment.

    On October 5, 2021, NRBO reported about the closure of its direct registered offering of 4,307,693 shares of the common stock and warrants of the company acquired at a public price of $3.25 per share.  The gross proceeds from the acquisition were approximately $12.7 million used for corporate purposes.

    Conclusion

    NRBO stock decreased phenomenally 62% from the last six months due to the challenges faced by the industry because of the pandemic. The current premarket surge in the stock is the result of uncertain factors as there is no recent activity or news by the company. The analysts are predicting that the company’s potential drug pipeline is generating positive outcomes which will increase the investment options for the company in the coming days.

  • 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.