NeuroBo Pharmaceuticals Inc (NRBO) News

Why do they present an offering as if it's a good thing for common shareholders?

NeuroBo Pharmaceuticals Announces up to $70 Million Concurrent Private Placement and Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

PUBLISHED
JUN 24, 2024 8:01AM EDT
$20 million upfront with up to an additional $50 million of aggregate gross proceeds upon the exercise in full of clinical milestone-linked Series Warrants are expected to provide cash runway to complete the Phase 1 Part 3 clinical trial

CAMBRIDGE, Mass., June 24, 2024 /PRNewswire/ -- NeuroBo Pharmaceuticals, Inc. (Nasdaq: NRBO) (NeuroBo), a clinical-stage biotechnology company focused on the transformation of cardiometabolic diseases, today announced that it has entered into definitive agreements for the issuance and sale in a private placement of 4,325,701 shares of its common stock (or pre-funded warrants in lieu thereof), at a purchase price of $3.93 per share (or per pre-funded warrant in lieu thereof). In a concurrent registered direct offering, NeuroBo has agreed to issue and sell 763,359 shares of its common stock at the same purchase price per share as in the private placement. In addition, NeuroBo has agreed to issue in the offerings unregistered Series A warrants to purchase up to 5,089,060 shares of common stock and unregistered Series B warrants to purchase up to 7,633,591 shares of common stock (all the warrants, collectively, the "Series Warrants"). The Series Warrants will have an exercise price of $3.93 per share and will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares upon exercise of the Series Warrants (the "Stockholder Approval"). The Series A warrants will expire on the earlier of the twelve months anniversary of the Stockholder Approval and within 60 days following the public announcement of NeuroBo receiving positive Phase 1 multiple ascending dose (MAD) data readout for DA-1726 and the Series B warrants will expire on the earlier of the five years anniversary of the Stockholder Approval and within six months following the public announcement of NeuroBo receiving positive Phase 1 Part 3 data readout for DA-1726. The private placement and the registered direct offering were priced at-the-market under Nasdaq rules. The closing of the offerings is expected to occur on or about June 25, 2024, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offerings.

The aggregate gross proceeds to NeuroBo from the offerings are expected to be approximately $20 million before deducting the placement agent's fees and other offering expenses payable by NeuroBo. NeuroBo currently intends to use the net proceeds from the offerings for working capital and general corporate purposes, as well as to continue the clinical development of DA-1726 for the treatment of obesity. The potential additional gross proceeds to NeuroBo from the Series Warrants, if fully exercised on a cash basis, will be approximately $50 million and will be utilized to fund the Phase 1 Part 3 clinical trial of DA-1726. No assurance can be given that any of the Series Warrants will be exercised.

The shares of common stock offered in the registered direct offering (but excluding the securities offered in the private placement and the shares of common stock underlying the warrants issued in the private placement) are being offered and sold by NeuroBo pursuant to a "shelf" registration statement on Form S-3 (Registration No. 333-278646), including a base prospectus, previously filed with the Securities and Exchange Commission ("SEC") on April 12, 2024 and declared effective by the SEC on April 23, 2024. The offering of the shares of common stock to be issued in the registered direct offering are being made only by means of a prospectus supplement that forms a part of the registration statement. A final prospectus supplement and an accompanying base prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying base prospectus, when available, may be obtained on the SEC's website at http://www.sec.gov and may also be obtained, when available, by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at placements@hcwco.com.

The offer and sale of the securities in the private placement and the Series Warrants described above are being made in a transaction not involving a public offering and have not been registered under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act") and/or Rule 506(b) of Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants issued in the private placement, have not been registered under the Securities Act or applicable state securities laws. Accordingly, the securities in the private placement, the Series Warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement with the SEC or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. NeuroBo has agreed to file an initial registration statement with the SEC covering the resale of the securities to be issued in the private placement.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About NeuroBo PharmaceuticalsNeuroBo Pharmaceuticals, Inc. is a clinical-stage biotechnology company focused on transforming cardiometabolic diseases. The company is currently developing DA-1726 for the treatment of obesity, and is developing DA-1241 for the treatment of Metabolic Dysfunction-Associated Steatohepatitis (MASH). DA-1726 is a novel oxyntomodulin (OXM) analogue that 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, thereby decreasing food intake while increasing energy expenditure, thus potentially resulting in superior body weight loss compared to selective GLP1R agonists. DA-1241 is a novel G-protein-coupled receptor 119 (GPR119) agonist that promotes the release of key gut peptides GLP-1, GIP, and PYY. In pre-clinical studies, DA-1241 demonstrated a positive effect on liver inflammation, lipid metabolism, weight loss, and glucose metabolism, reducing hepatic steatosis, hepatic inflammation, and liver fibrosis, while also improving glucose control.

Ugh, this stonk needs to test resistance again.

NRBO under $5

NRBO 10Q due 4/8

Here we go... is this finally recovering?

NRBO: Remember the old, "Boy-who-cried-WOLF"??? Whelp, now it's, "The-boy-who-cried-WEIGHT-LOSS"!!! (I.e., sooner or later, NOBODY pays any attention!!!)

NRBO: And yet ANOTHER pure EXPLOITATION of the suddenly TRENDING "weight loss" craze across BIG-FAT-&-GREASY America!!! Lose weight??? Are you frickin' KIDDING me???!!! Americans LOVE TO BE FAT!!!

Way up
Weight loss drug developer

Nothing but crickets here lately.

Exhaust Gas Recirculation?

EGR… 20%

Won't another reverse/split be necessary soon for compliance?

Adding !

$NRBO$

PPS be chilling below that $1 minimum.

Financials seem a bit rough for this company.

Old support became new resistance.

Too much dilution on news won’t run at this pace.

Support at .72 watch this closely

Nice volume yesterday prepping up for a bigger move up. Above .90 with volume and it blows up

Stocks rarely respond well to reverse/splits. $NRBO does.

Getting there also A.D.c.t similar setup

I just saw this on my squeeze indicator /chart... seems to be setting up nice. I use your tool for entry postions. It's nice to have. I have been using it since the OTC days. Someone introduce it to me years,years ago. gave me a $13 range on GFAI today $$$ Pivot 12.43, R1 15.96
Happy Trading

Pivot Point 3rd Level Resistance 0.9317
Pivot Point 2nd Level Resistance 0.8933
1-Month High 0.8550
Pivot Point 1st Resistance Point 0.8467
High 0.8100
Previous Close 0.8000
Last 0.7899
Low 0.7810
Pivot Point 1st Support Point 0.7617
Pivot Point 2nd Support Point 0.7233
Pivot Point 3rd Support Point 0.6767

opened a position yesterday morning

the GOOD: already +
the BAD: not much spare money - very small position.

(invesz´ted big in nWbo)

Breaking out of the channel with above Ave buy vol.,mon could be a big boom,have a great weekend everyone

#7 and climbing fast on scanner,relative buy vol. spiking,must be big followed ppl loaded and sharing,golden goose when vol comes,it has fomo/greed potential,dd is more positive than 90% of the garbage currently in play

unusually low sell vol today,toxic debt/dilution appears ending,super low risk/high reward looking good

Yes, it has been doing so since 12/28/22.

Trading in a tight range.

We almost ready for the short squeeze here$$$

ZALMY IS THE NEW ZACK MORRIS!!! EVEN BETTER!!! THANKS MAN FOR ANOTHER 10%, STILL HOLDING SOME MORE JUST IN CASE!!!

Hi, what possible news coming?

We ready for news and blast off. Warming up again.

I mean added .65s not .55

Just added some .55 for a flip
Have more cash now then market cap
Date Value
December 22, 2022 18.97M
November 11, 2022 6.504M
November 08, 2022 4.036M

https://ycharts.com/companies/NRBO/shares_outstanding

https://finance.yahoo.com/news/neurobo-announces-closing-32-3-210500773.html?.tsrc=rss&guccounter=1

We were recently( a few days ago) at around 6 million shares outstanding. Now it is at 18 million shares outstanding. Where did the extra 12 million shares come from suddenly? Thanks

Not just yet, but perhaps soon.

Shorts prosper in a bearish market, temporarily.

Consider the full context. Entire market is bearish.

$NRBO is on the Reg Sho list. Interesting...

I wonder whether Goldman Sacks will now buy more NRBO at half the price they paid just a few weeks ago. This stock was $29 just a few months ago. The drop in price seems unreal.

BALLA told me to slap that ask so I do as he says!!!!

NRBO: Something's going on here.

Seem like Shorts taking a risk, lets see if it squeezes on a Friday.

40M in cash too...no offering for a long time

2.44 looking nice, over 1 million in volume

Yes sir