NeuroBo Pharmaceuticals, Inc. - NRBO STOCK NEWS

NeuroBo Pharmaceuticals (Nasdaq: NRBO) reported its third quarter financial results for 2021, highlighting a net loss of $3.5 million or $0.16 per share, compared to a loss of $3.1 million or $0.19 per share in the previous year. R&D expenses increased to $1.4 million from $1.3 million, while G&A expenses rose to $2.1 million from $1.8 million. The company successfully raised $14 million through a direct offering, extending its cash runway into Q4 2022. NeuroBo is advancing its Phase 2/3 clinical trial for ANA001, targeting COVID-19.

NeuroBo Pharmaceuticals (Nasdaq: NRBO) announced the appointment of Gil Price, M.D. as President and CEO, replacing Dr. Richard J. Kang, who will remain on the Board. This leadership change aims to advance NeuroBo’s clinical strategy, particularly in its COVID-19 program. Dr. Price, with extensive experience in clinical development, previously served at ProPharma Group and MedImmune. An inducement grant was also approved for Dr. Price, allowing him to purchase 616,666 shares at $2.04 each. This transition is expected to strengthen NeuroBo's position in developing disease-modifying therapies.

NeuroBo Pharmaceuticals (Nasdaq: NRBO) announced a positive recommendation from an independent Data Monitoring Committee (DMC) regarding its Phase 2/3 trial of ANA001, an oral niclosamide formulation for COVID-19 treatment. The DMC reviewed safety data from 36 patients and recommended continuing the trial without modifications. This two-part study aims to assess safety, tolerability, and efficacy in hospitalized patients. The company plans to complete the Phase 2 portion by Q4 2021 and initiate Phase 3 shortly thereafter, aiming to address the ongoing need for effective COVID-19 therapies.

NeuroBo Pharmaceuticals (NASDAQ: NRBO) announced the completion of a registered direct offering, selling 4,307,693 shares at $3.25 each, raising approximately $12.7 million in net proceeds. The offering includes unregistered warrants with an exercise price of $3.75, exercisable in six months for three and a half years. The funds will be used for working capital, capital expenditures, and general corporate purposes. NeuroBo focuses on developing therapies for viral and neurodegenerative diseases, with ongoing clinical trials for its drug candidates.

NeuroBo Pharmaceuticals (NRBO) announced a registered direct offering to sell 4,307,693 shares of common stock at $3.25 per share, aiming to raise approximately $14 million in gross proceeds. Concurrently, the company will issue warrants for the same number of shares at an exercise price of $3.75, exercisable after six months for 3.5 years. The net proceeds will support working capital and general corporate purposes. The offering's closing is expected around October 5, 2021.

NeuroBo Pharmaceuticals (NRBO) reported its Q2 2021 financial results, showing a net loss of $3.9 million, or $0.18 per share, widening from a $2.4 million loss in Q2 2020. R&D expenses rose to $2.0 million, reflecting increased clinical activity. Despite cash reserves decreasing to $9.5 million as of June 30, 2021, NeuroBo expects sufficient liquidity to support operations into Q1 2022. Enrollment in the Phase 2/3 trial for its COVID-19 treatment, ANA001, is expected to conclude by Q4 2021, aided by the Delta variant's impact on hospitalization rates.

On July 9, 2021, NeuroBo Pharmaceuticals (Nasdaq: NRBO) held its Annual Meeting of Shareholders, where Hyung Heon Kim and Andrew I. Koven were elected to its Board of Directors. This Board now consists of seven directors, with six independent members. CEO Richard J. Kang expressed optimism about the new members' industry expertise aiding the advancement of NeuroBo's pipeline, including their lead asset, ANA001, for COVID-19. The company is progressing with various drug candidates targeting viral and neurodegenerative diseases, including a promising Phase 2/3 trial for ANA001.

NeuroBo Pharmaceuticals (NASDAQ: NRBO) reported its Q1 2021 financial results, highlighting strategic adjustments to broaden the scope of its drug candidate Gemcabene, now being evaluated for COVID-19 treatment. The company completed a private placement, raising $10 million, strengthening its financial position. R&D expenses decreased to $1.1 million, while general and administrative expenses fell to $2.2 million. The net loss was $3.3 million, a reduction from $4.8 million the previous year. Cash reserves increased to $13 million, projected to sustain operations through Q4 2021.

NeuroBo Pharmaceuticals (Nasdaq: NRBO) announced its 2020 financial results, reporting a net loss of $29.7 million, or $1.83 per share, compared to a $21.3 million loss in 2019. The company expanded its clinical pipeline through the acquisition of ANA Therapeutics and the initiation of a Phase 2/3 trial for ANA001, aimed at treating moderate COVID-19. R&D expenses decreased to $4.5 million, while general and administrative costs increased significantly to $7.8 million. NeuroBo completed a $10 million private placement, bolstering its balance sheet to fund operations into Q4 2021.