According to the last check, shares of NeuroBo Pharmaceuticals Inc. (Nasdaq: NRBO) are trading at $21.65 after rising 48.29% at the last check. Although NRBO stock has been surging without any significant news, the recent development might be helping it recover the -12.44% loss it has sustained over the last five sessions.
Recent Developments at NRBO
A conditional exclusive license agreement was announced last week between NeuroBo (NRBO) and Dong-A ST Co Ltd.
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- A collaboration agreement was signed between the two companies to develop and commercialize DA-1241 and DA-1726 for nonalcoholic steatohepatitis (NASH), obesity, and type-2 diabetes.
- DA-1241 activates G-Protein-Coupled Receptor 119 (GPR119), which, in turn, is involved in promoting the release of key gut peptides such as GLP-1, GIP, and PYY, which contribute to glucose, lipid, and weight loss metabolisms.
- The compound DA-1726 is a novel oxyntomodulin (OXM) analog that acts as a dual agonist for glucagon-like peptide-1 receptors (GLP1Rs) and glucagon receptors (GCGRs).
- DA-1726 has been shown to promote weight loss through a dual mechanism, as opposed to a single mechanism based on GLP-1 alone.
- Furthermore, in the same experimental models, DA-1726 improved hepatic inflammation, fibrosis, and steatosis when compared to semaglutide, a GLP-1 agonist.
How the transaction be executed?
A license agreement with NeuroBo provides for its global development, regulatory, and commercial activities, with the exception of certain Asian-Pacific regions. A Korean manufacturing facility will produce clinical supplies and initial commercial supplies of the product for Dong-A.
With the acquisition of these two cardiometabolic assets, NRBO now has a diversified pipeline of products with exciting opportunities in the obesity and NASH markets. It also reaffirms Dong-A’s commitment to remain NeuroBo’s long-term strategic partner and one of its largest shareholders.
What will the transaction mean for NRBO?
After the acquisition closes, which is subject to certain conditions, NRBO will be in a unique position to initiate a phase 2a study of DA-1241 in NASH in 2023, with data expected in 2024. As part of this plan, NeuroBo will initiate a phase 1a safety study of DA-1726 in the first half of 2023, which will provide data by the second half of 2023.