NeuroBo Pharmaceuticals, Inc. (NRBO) is a leading innovative biotherapeutics company engaged in the development of treatments for neuropathic and neurodegenerative diseases. One of the lead pipeline candidates of the company is ANA001 is in Phase 2/3 clinical trial for the treatment of patients with COVID-19. NB-01 in Phase 2 trial for treating painful diabetic neuropathy patients. NB-02 for treating Alzheimer’s and Gemcabene for treating dyslipidemia and acute treatment for COVID-19.
The price of NRBO stock during the regular trading on January 21, 2022, was $1.12 with a decline of 8.12%. At last check in the premarket on January 24, 2022, the stock was significantly up by 8.93%.
NRBO: Key Financials
On November 15, 2021, NRBO reported its financial results for the third fiscal quarter ended September 30, 2021. Some of the key updates are as follows
Net Loss per Share
Basic and diluted net loss for third-quarter 2021 was $3.5 million, or $0.16 per share compared to the same period of 2020 when it was $3.1 million, or $0.19 per share.
Assets
The total current assets of the company in Q3 2021 were $7.84 million.
NRBO: Events and Happenings
On November 4, 2021, NRBO reported about the appointment of Gil Price as President and CEO of the company. He had already served in eminent positions in leading global pharmaceutical industries. On October 13, 2021, NRBO reported that the safety data of patients in Phase 2/3 studies of ANA001 was reviewed by a Data Monitoring Committee. The results recommended the continuation of the clinical trials without any further adjustment.
On October 5, 2021, NRBO reported about the closure of its direct registered offering of 4,307,693 shares of the common stock and warrants of the company acquired at a public price of $3.25 per share. The gross proceeds from the acquisition were approximately $12.7 million used for corporate purposes.
Conclusion
NRBO stock decreased phenomenally 62% from the last six months due to the challenges faced by the industry because of the pandemic. The current premarket surge in the stock is the result of uncertain factors as there is no recent activity or news by the company. The analysts are predicting that the company’s potential drug pipeline is generating positive outcomes which will increase the investment options for the company in the coming days.
