Welcome to our dedicated page for NeuroBo Pharmaceuticals news (Ticker: NRBO), a resource for investors and traders seeking the latest updates and insights on NeuroBo Pharmaceuticals stock.
NeuroBo Pharmaceuticals, Inc. (NASDAQ: NRBO) is a clinical-stage biotechnology company dedicated to developing and commercializing transformative therapies for cardiometabolic diseases. Headquartered in Boston, Massachusetts, and established in 2017, NeuroBo is at the forefront of innovative solutions aimed at conditions like obesity, metabolic dysfunction-associated steatohepatitis (MASH), and Type 2 Diabetes Mellitus (T2DM).
The company's robust product pipeline includes two primary programs:
- DA-1241: This novel G-Protein-Coupled Receptor 119 (GPR119) agonist aims to treat MASH and T2DM. In preclinical studies, DA-1241 has shown promising results in reducing hepatic steatosis, inflammation, liver fibrosis, and improving glucose control. The Phase 2a clinical trial is currently evaluating its efficacy and safety, with an expected data readout in the second half of 2024.
- DA-1726: A dual oxyntomodulin (OXM) analog functioning as a glucagon-like peptide-1 receptor (GLP1R) and glucagon receptor (GCGR) agonist, designed to address obesity. Preclinical evidence suggests that DA-1726 offers superior weight loss and a better tolerability profile compared to existing GLP-1 agonists. The Phase 1 clinical trial is underway with an anticipated data readout in the first half of 2025.
In addition to its primary programs, NeuroBo continues to advance its legacy therapeutics, including ANA001 for viral diseases, NB-01 for painful diabetic neuropathy, NB-02 for neurodegenerative diseases, and Gemcabene for dyslipidemia. The company's commitment to leveraging advanced biotechnology aims to meet significant unmet medical needs, providing patients with novel, effective treatments.
Recent achievements include FDA clearance for the IND application of DA-1726 and the initiation of Phase 1 clinical trials. NeuroBo also secured Institutional Review Board (IRB) approval to further expedite their research and development processes.
For more comprehensive information, please visit NeuroBo Pharmaceuticals' official website.
NeuroBo Pharmaceuticals (Nasdaq: NRBO) has announced its strategic focus on cardiometabolic diseases following the acquisition of promising assets targeting nonalcoholic steatohepatitis (NASH), obesity, and type 2 diabetes. The company completed a public offering of $17.3 million and received a $15 million private investment from Dong-A, becoming its largest shareholder. For 2022, R&D expenses decreased to $2.8 million, while net loss narrowed to $14.0 million, or $5.43 per share. Cash and equivalents rose to $33.4 million, expected to support operations into 2024, including upcoming clinical trials for DA-1241 and DA-1726.
NeuroBo Pharmaceuticals, a clinical-stage biotechnology company (Nasdaq: NRBO), has appointed Joseph Hooker as Interim CEO and President following the retirement of Gil Price. Hooker, who brings approximately 40 years of industry experience, will lead the company during its search for a permanent CEO. The Board expressed confidence in Hooker's ability to advance NeuroBo's newly acquired assets, DA-1241 and DA-1726, into clinical development, particularly targeting nonalcoholic steatohepatitis (NASH) and obesity. In November 2022, NeuroBo secured $32.3 million in financing to bolster its financial position and support ongoing operations.
NeuroBo Pharmaceuticals (Nasdaq: NRBO) has closed a public offering generating $17.3 million and a concurrent private placement raising $15 million. The public offering included 3,147,003 Class A Units and 2,602,997 Class B Units, priced at $3.00 each. NeuroBo also secured an exclusive license from Dong-A ST Co., Ltd. for DA-1241 and DA-1726, aimed at treating NASH, obesity, and type 2 diabetes. The license includes an upfront payment of $22 million worth of Series A Convertible Preferred Stock. Stockholder meetings are anticipated by December 22, 2022.
NeuroBo Pharmaceuticals (NASDAQ: NRBO) announced a $30 million underwritten public offering and concurrent private placement, with units priced at $3.00 each. The offering includes 2,397,003 Class A Units and 2,602,997 Class B Units, each comprising shares of common stock and warrants. A total of 10 million warrants will accompany the offering. Additionally, NeuroBo plans to sell $15 million in convertible preferred stock and warrants to Dong-A St. Co. Ltd. The closing date is projected for November 8, 2022.
On September 27, 2022, NeuroBo Pharmaceuticals (Nasdaq: NRBO) received confirmation from Nasdaq that it fully complies with the minimum bid price requirement and all other criteria for continued listing on the Nasdaq Capital Market. This resolution closes the listing matter. NeuroBo is a clinical-stage biotechnology firm focusing on neurodegenerative and infectious diseases, with its therapeutic programs advancing in clinical trials for COVID-19, diabetic neuropathy, and cognitive impairment.
NeuroBo Pharmaceuticals has entered a conditional exclusive license agreement with Dong-A ST to develop DA-1241, a Phase II asset for treating NASH and Type 2 diabetes, and DA-1726, a Phase I asset targeting NASH and obesity. Dong-A commits $15 million in equity and receives $22 million in convertible stock, along with milestone payments based on development achievements. NeuroBo plans to initiate a Phase 2a study for DA-1241 in early 2023, with results by late 2024, alongside a Phase 1a study for DA-1726.
NeuroBo Pharmaceuticals (Nasdaq: NRBO) announced a 1-for-30 reverse stock split effective at 5:00 pm ET on September 12, 2022. Starting September 13, the company's shares will trade on a split-adjusted basis to meet Nasdaq listing requirements. The reverse split will reduce outstanding shares from approximately 26.7 million to around 0.9 million while keeping authorized shares at 100 million. Shareholders will receive cash for any fractional shares. The symbol 'NRBO' remains unchanged on the Nasdaq market.
NeuroBo Pharmaceuticals (Nasdaq: NRBO) announced the appointment of Matthew Bardin, PharmD, BCPS, as Senior Vice President of Operations, effective April 30, 2022. Dr. Bardin will oversee daily operations with a focus on clinical development, reporting to CEO Gil Price, M.D. Bardin brings extensive experience in clinical drug development and medical affairs, having previously held key roles at Romark, L.C. This leadership change aims to enhance NeuroBo's efforts in advancing their lead drug candidate, ANA001, while also exploring new products.
NeuroBo Pharmaceuticals (Nasdaq: NRBO) reported its financial results for the year ended December 31, 2021, revealing a net loss of $15.3 million, improving from $29.7 million in 2020. R&D expenses increased to $6.5 million, primarily due to clinical trial costs for its lead drug candidate, ANA001, targeting moderate to severe COVID-19. General and administrative expenses rose to $8.8 million. The company ended 2021 with $16.4 million in cash, projecting sufficient funds for operations into Q4 2022. Clinical progress on ANA001 is anticipated in the upcoming quarters.
NeuroBo Pharmaceuticals (Nasdaq: NRBO) announced the immediate appointment of Danamarie Belpulsi, M.D., to its Scientific Advisory Board as of March 15, 2022. Dr. Belpulsi brings expertise in infectious diseases, cardiology, and neurology, which is expected to enhance clinical trial strategies and advance the company's programs, particularly ANA-001. Currently serving as Medical Director at ICON plc, her extensive background includes consulting for numerous biotech companies and research roles at Columbia University. This addition is anticipated to strengthen NeuroBo's clinical development initiatives.
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