On March 18, NeuroBo Pharmaceuticals Inc. (NRBO) stock surged up in the after-hours while there is no news from the company. The latest news from the company dates back to March 15, 2022.
During the regular trading session, the stock traded in the green with a gain of 2.87%. NRBO closed the session at $0.84 while 2.13 million shares exchanged hands. Following this, the stock’s bullish roll leaped up at 28.57% in the after-hours. Hence, the stock was trading at a price of $1.08 per share in the after-hours while the volume of shares traded was 1.94 million.
The clinical-stage biopharmaceutical company, NeuroBo Pharmaceuticals Inc. was founded in 2017. Currently, the company has a market capitalization of $22.34 million with its 26.59 million outstanding shares.
NRBO stock Movement
On March 15, the company announced the appointment of Danamarie Belpulsi to its Scientific Advisory Board.
Thus, after having a decent gain on March 15, the stock fell under profit booking on the following day. On March 17, the stock resumed a mild bullish course which continued into March 18’s regular session. The bullishness outpoured into a huge gain in the after-hours on Friday. With no new announcement, the stock seems to have gained on external factors. Social media discussions and stock sentiment seem to have caused the stock to surge up in the after hours.
In the past five days, NRBO has added 11.14% while its stands at a year-to-date loss of 31.15%. Moreover, the stock declined by a huge 82.35% last year.
Recent Developments
The recently added Dr. Belpulsi is currently, Medical Director at ICON plc, and has extensive experience in infectious diseases, cardiology, and neurology among many others.
Previously, on January 28, the company announced having appointed D. Gordon Strickland to its Board of Directors along with the Chair of Audit Committee. With over 35 years of experience in executive leadership roles, Mr. Gordon was most recently, the Chairman of Apex Corporations.
NRBO’s Q3 2021 Highlights
In the third quarter of 2021, NRBO incurred a net loss of $3.5 million or $0.16 on a diluted share basis. Comparatively, the company had a net loss of $3.1 million or $0.19 per share in the year-ago period.
Furthermore, the company ended the quarter with cash and cash equivalents of $7.0 million on September 39, 2021.
