NeuroBo Pharmaceuticals, Inc. - NRBO STOCK NEWS

NeuroBo Pharmaceuticals (Nasdaq: NRBO), a clinical-stage biotech company, will present at the Emerging Growth Conference on July 18, 2024, at 10:50 am ET. Hyung Heon Kim, President and CEO, along with Marshall H. Woodworth, CFO, will provide an overview of the company's work. The focus will be on DA-1726, a novel dual OXM agonist targeting GLP1R and GCGR receptors for obesity treatment. The session will include a Q&A segment, with questions to be submitted in advance or during the event. Register online to attend and receive updates. For additional meetings, contact Michael Miller.

NeuroBo Pharmaceuticals (Nasdaq: NRBO) has dosed the first patient in Part 2 of its Phase 1 clinical trial of DA-1726, a dual oxyntomodulin analog agonist for obesity treatment. This MAD study, expected to enroll 36 participants, will investigate safety, tolerability, and pharmacokinetics, with top-line data anticipated in Q1 2025. Part 3 of the trial, assessing weight loss and dietary changes over 24 weeks, will begin in Q3 2025, with interim data expected mid-2026. A recent $70 million financing will support the clinical development. Pre-clinical models showed DA-1726's superior weight loss compared to other drugs. The trial aims to establish DA-1726 as a best-in-class obesity treatment.

NeuroBo Pharmaceuticals has closed a private placement and a registered direct offering priced at-the-market under Nasdaq rules, securing approximately $20 million upfront. The company issued 4,325,701 shares of common stock at $3.93 per share in the private placement and 763,359 shares in the direct offering.

The total gross proceeds could reach up to $70 million, contingent on the full exercise of Series Warrants linked to clinical milestones. The funds will support working capital, general corporate purposes, and the clinical development of DA-1726 for obesity treatment.

H.C. Wainwright & Co. served as the exclusive placement agent for the offerings.

NeuroBo Pharmaceuticals (Nasdaq: NRBO) has announced two concurrent financial events: a private placement and a registered direct offering, both priced at-the-market under Nasdaq rules. The company aims to secure $20 million initially, with potential additional gross proceeds of up to $50 million through the exercise of Series Warrants. The funds will support the Phase 1 Part 3 clinical trial for DA-1726, targeting obesity treatment.

The private placement involves selling 4,325,701 shares at $3.93 per share, while the direct offering includes 763,359 shares at the same price. Unregistered Series A and B warrants will be issued for the purchase of up to 12,722,651 shares in total, with varying expiration conditions based on clinical milestones.

The closing is expected around June 25, 2024, pending customary conditions. H.C. Wainwright & Co. is the exclusive placement agent. The proceeds will be used for working capital, general corporate purposes, and continued clinical development of DA-1726.

NeuroBo Pharmaceuticals revealed pre-clinical data for DA-1726, a new dual oxyntomodulin analog agonist, showing superior weight loss, lean body mass retention, and lipid-lowering effects compared to survodutide. In obese mouse models, DA-1726 significantly outperformed survodutide in reducing cholesterol (T-CHO: -67.7% vs. -49.6%) and triglycerides (TG: -49.5% vs. -41.2%). DA-1726 also demonstrated better glucose-lowering effects (-54.7% vs. -30.4% of survodutide). The drug's efficacy was tested at the ADA 84th Scientific Sessions in Orlando, June 21-24, 2024. The Phase 1 trial is ongoing, with initial dosing in Q3 and top-line data expected in Q1 2025.

NeuroBo Pharmaceuticals announced that pre-clinical data suggests its novel GPR119 agonist, DA-1241, when combined with semaglutide (Wegovy®), enhances liver fibrosis improvement and exhibits additive hepatoprotective effects in MASH models compared to individual treatments. The data, to be presented at EASL Congress 2024, show significant benefits in reducing hepatic steatosis, inflammation, and fibrosis with this combination. The Phase 2a clinical trial of DA-1241 in MASH is ongoing, with top-line data expected by year-end. This development highlights the potential of DA-1241 as a therapeutic agent targeting liver inflammation and fibrosis in MASH.

NeuroBo Pharmaceuticals, Inc. (Nasdaq: NRBO) reported financial results for Q1 2024 and a corporate update. They dosed the first patient in the Phase 1 clinical trial of DA-1726 for obesity. Cash balance was $16.0 million, expected to fund operations until Q4 2024. They enrolled patients in the Phase 2a trial of DA-1241 for MASH and anticipate reporting top-line data in Q4 2024.

NeuroBo Pharmaceuticals, Inc. (Nasdaq: NRBO) will present pre-clinical data on its cardiometabolic assets, DA-1241 and DA-1726, at the EASL Congress 2024 and the ADA 84th Scientific Sessions in June. With enrollment completion for the Phase 2a trial of DA-1241 and dosing of the first patient in the Phase 1 trial of DA-1726, NeuroBo is advancing well towards treating MASH and obesity. The company aims to dose the first patient in the multiple ascending dose Part 2 and release top-line data in the third quarter of 2024 and the first quarter of 2025, respectively.