Company Overview

NeuroBo Pharmaceuticals has two drugs licensed from its strategic partner and largest shareholder, Dong-A ST. DA-1241 has completed Phase I in the USA as of Q2 2O24, while DA-1726 has completed pre-clinical studies.

Recent Financial Activities

In June 2024, NeuroBo announced the closing of up to $70 million concurrent private placement and registered direct offering priced at-the-market under Nasdaq rules. The aggregate gross proceeds from the offerings were approximately $20 million before deducting the placement agent's fees and other offering expenses. The copany intends to use the net proceeds for working capital and general corporate purposes, including continuing the clinical development of DA-1726 for the treatment of obesity. If fully exercised on a cash basis, the Series Warrants could provide an additional $50 million, which will be utilized to fund the Phase I Part III clinical trial of DA-1726.

Drug Development Pipeline

As of Q2 2024, NeuroBo is developing DA-1241 for the treatment of Metabolic Dysfunction-Associated Steatohepatitis (MASH) and DA-1726 for the treatment of obesity.

DA-1241: This novel G-protein-coupled receptor 119 (GPR119) agonist promotes the release of key gut peptides GLP-1, GIP, and PYY. In pre-clinical studies, DA-1241 demonstrated positive effects on liver inflammation, lipid metabolism, weight loss, and glucose metabolism, reducing hepatic steatosis, hepatic inflammation, and liver fibrosis while improving glucose control.

DA-1726: This novel oxyntomodulin (OXM) analogue functions as a glucagon-like peptide-1 receptor (GLP1R) and glucagon receptor (GCGR) dual agonist. OXM is a naturally-occurring gut hormone that activates GLP1R and GCGR, decreasing food intake while increasing energy expenditure. This mechanism potentially results in superior body weight loss compared to selective GLP1R agonists.