CAMBRIDGE, Mass., Jan. 9, 2024 /PRNewswire/ -- NeuroBo
Pharmaceuticals, Inc. (Nasdaq: NRBO), a clinical-stage
biotechnology company focused on transforming cardiometabolic
diseases, announced that on January 8,
2024, it received formal notice from The Nasdaq Stock
Market, LLC ("Nasdaq") indicating that the Company has regained
compliance with Nasdaq's minimum bid price requirement set forth in
Nasdaq Listing Rule 5550(a)(2) and otherwise satisfies all other
applicable criteria for continued listing on The Nasdaq Capital
Market. As a result, the listing matter has been closed.
About NeuroBo Pharmaceuticals
NeuroBo Pharmaceuticals,
Inc. is a clinical-stage biotechnology company focused on
transforming cardiometabolic diseases. The company is currently
developing DA-1241 for the treatment of Metabolic
Dysfunction-Associated Steatohepatitis (MASH) and Type 2 Diabetes
Mellitus (T2DM), and is developing DA-1726 for the treatment of
obesity. 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 preclinical 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. DA-1726 is a novel, dual oxyntomodulin (OXM) analog that
functions as a glucagon-like peptide-1 receptor (GLP1R) and
glucagon receptor (GCGR) for the treatment of obesity. 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.
For more information, please visit www.neurobopharma.com.
Forward Looking Statements
Certain statements in this
release may be considered forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this
release, including, without limitation, those risks associated with
NeuroBo's continued compliance with the Nasdaq listing rules; the
timeline for regulatory submissions; the ability to obtain
regulatory approval through the development steps of NeuroBo's
current and future product candidates; NeuroBo's ability to
initiate and complete clinical trials on a timely basis; our
ability to recruit subjects for our clinical trials; whether
NeuroBo receives results from NeuroBo's clinical trials that are
consistent with the results of pre-clinical and previous clinical
trials; effects of changes in applicable laws or regulations;
effects of changes to NeuroBo's stock price from any future
fundraising; and other risks and uncertainties described in our
filings with the SEC. Forward-looking statements speak only as of
the date when made. NeuroBo does not assume any obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except
as required by law.
Contacts:
NeuroBo Pharmaceuticals
Marshall H. Woodworth
Interim Chief Financial Officer
+1-857-299-1033
marshall.woodworth@neurobopharma.com
Rx Communications Group
Michael Miller
+1-917-633-6086
mmiller@rxir.com
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SOURCE NeuroBo Pharmaceuticals, Inc.