NeuroBo Pharmaceuticals Leads PRISM Biotech Index with Q2 Cardiometabolic Milestones and $70M Funding Boost

NeuroBo Pharmaceuticals (NRBO) leads the PRISM Biotech Index after a strong Q2 2024 update. The company secured up to $70 million in financing, with $20 million upfront, to fund key milestones through Q2 2025. Highlights include the progress of DA-1726, an obesity treatment showing superior pre-clinical results, with Phase 1 top-line data expected in Q3 2024. Additionally, NeuroBo is advancing DA-1241 for metabolic dysfunction-associated steatohepatitis (MASH), with Phase 2a results anticipated in Q4 2024.

The company also emphasized its strong financial position to fund key milestones through Q2 2025.

“During the second quarter and subsequently, we made remarkable progress advancing the clinical development of our two next-generation cardiometabolic assets and are now well capitalized to execute on our upcoming DA-1726 milestones following our recent, successful financing of up to $70 million in aggregate gross proceeds, with $20 million upfront and $50 million of clinical milestone-based warrants,” stated NeuroBo CEO Hyung Heon Kim.