NeuroBo Pharmaceuticals, Inc. - NRBO STOCK NEWS

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.

NeuroBo Pharmaceuticals (Nasdaq: NRBO) announced on March 24, 2021 that it gained approval for an amendment to its Contingent Value Rights (CVR) agreement. This amendment allows NeuroBo to evaluate Gemcabene as a treatment for COVID-19, utilizing its resources. In return, CVR holders will receive 10% of proceeds from any indications outside cardiometabolic diseases, while retaining 80% of proceeds from cardiovascular-related Gemcabene sales. The company also plans to explore Gemcabene in combination with ANA001, currently in a Phase 2/3 trial for COVID-19.

NeuroBo Pharmaceuticals (Nasdaq: NRBO) announced its participation in the H.C. Wainwright Global Life Sciences Conference on March 9-10, 2021. Senior Vice President Akash Bakshi and Commercial Advisor Seth Reno will present a corporate overview, including updates on the ongoing phase 2/3 clinical trial of ANA001, a treatment for moderate to severe COVID-19. The presentation will be available from 7:00 am ET on March 9, with a 90-day archived replay. NeuroBo is focused on developing therapies for various diseases, including its lead program, ANA001, and others addressing neuropathic and neurodegenerative conditions.

NeuroBo Pharmaceuticals (Nasdaq: NRBO) announced the closure of a private placement, raising $10.0 million through the sale of 2,500,000 shares and warrants. Each share and warrant were sold at $4.00. After expenses, the net proceeds are approximately $9.2 million, intended for working capital and general corporate purposes. The company is required to register the shares by January 25, 2021. NeuroBo focuses on therapies for neurodegenerative diseases and has candidates for COVID-19 and diabetic neuropathy.

NeuroBo Pharmaceuticals (Nasdaq: NRBO) announced a private placement to raise $10.0 million by issuing 2,500,000 shares at $4.00 per share and associated warrants. The transaction, expected to close on January 21, 2021, will provide funds for working capital and other corporate needs. Each warrant has an exercise price of $6.03 and is exercisable after six months for five and a half years. The company plans to register these shares with the SEC by January 25, 2021.