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Friday, December 9, 2022

Neurobo Pharmaceuticals Inc. (NRBO) Stock Surges Following Continued Development of ANA001 Clinical Trial

Neurobo Pharmaceuticals Inc. (NRBO) stock prices were down by 1.05% as of the market closing on September 27th 2021. This brought the price per share up to USD$3.78 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 14.29%, bringing it up to USD$4.32.

NRBO Stock’s ANA001 Trial

NRBO stock continued to advance the Phase 2/3 clinical trial of its lead drug candidate, ANA001, over the course of the second quarter of fiscal 2021. ANA001 is a the company’s proprietary oral niclosamide formulation that is being developed as a treatment for patients with moderate to severe Covid-19. Enrollment of the Phase 2 part of the trial in the United States progressed at a slower rate than hoped on account of high vaccination rates and a deceleration of Covid-19 hospitalizations. However, the proliferation of the Delta variant has reversed that trend, resulting in an acceleration of enrollment in the study. Accordingly, the company expects to complete the Phase 2 portion of the trial in the fourth quarter of fiscal 2021.


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R&D and G&A Costs

Research and development costs for the second quarter of fiscal 2021 were reported in the amount of USD$2 million. This is comparable to the USD$0.7 million in R&D expenses for the prior year quarter. The year over year difference was largely attributable to an overall increase in research development activity in the 2021 year. General and administrative expenses were reported at USD$1.9 million for the second quarter of fiscal 2021. This is comparable to the USD$1.7 million reported in the prior year quarter.

Net Loss Reports

Net loss for the second quarter of fiscal 2021 came in at USD$3.9 million, representing a net loss of USD$0.18 per basic and diluted share. These calculations are based on 22,200,074 weighted average common shares outstanding. This is comparable to the net loss of USD$2.4 million in the prior year quarter, representing a net loss of USD$0.15 per basic and diluted share. This is based on 16,303,681 weighted average common shares outstanding for the quarter ended June 30th 2020. NRBO stock reported USD$9.5 million in cash and cash equivalents as of June 30th 2021.

Future Outlook for NRBO Stock

NRBO stock reported a promising quarter, as evidenced by the strength of its financial reports for the second quarter of fiscal 2021. The quarter was further consolidated by developments made in regard to the development of its lead drug candidate, ANA001. Current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to usher in organic and unprecedented growth over the long term.

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