NeuroBo Pharmaceuticals, Inc. - NRBO STOCK NEWS

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.

On January 28, 2022, NeuroBo Pharmaceuticals (Nasdaq: NRBO) announced the appointment of D. Gordon Strickland to its Board of Directors, effective January 27, 2022. Mr. Strickland, an accomplished executive with over 35 years of leadership experience, will serve as Chair of the Audit Committee. His past roles include Chairman and CEO positions at notable firms, contributing valuable expertise as NeuroBo aims for growth and value creation. The announcement comes amid ongoing efforts to enhance the company's strategic direction and operational effectiveness.

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.