{"id":381126,"date":"2020-11-13T16:33:35","date_gmt":"2020-11-13T21:33:35","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=381126"},"modified":"2020-11-13T16:33:35","modified_gmt":"2020-11-13T21:33:35","slug":"neurobo-pharmaceuticals-reports-third-quarter-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/neurobo-pharmaceuticals-reports-third-quarter-2020-financial-results\/","title":{"rendered":"NeuroBo Pharmaceuticals Reports Third Quarter 2020 Financial Results"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n BOSTON<\/span>, Nov. 13, 2020<\/span> \/PRNewswire\/ — NeuroBo Pharmaceuticals, Inc. <\/b>(Nasdaq: NRBO), a clinical-stage biotechnology company focused on developing and commercializing multimodal, disease-modifying therapies for neurodegenerative and cardiometabolic diseases, today announced financial results for the third quarter ended September 30, 2020<\/span>.<\/p>\n

“Throughout the third quarter and recent weeks, we continued to evaluate\u00a0a variety of potential options for bringing the NB-01 asset to the market through a different regulatory pathway, including as an orphan drug or a rare disease indication,” stated Richard J. Kang<\/span>, Ph.D., President and Chief Executive Officer of NeuroBo.<\/p>\n

“We had continued work on preparing an Investigational New Drug (IND) application for submission to the U.S. Food and Drug Administration (FDA) for NB-02, our multi-component drug compound that, in pre-clinical models, has shown to impact multiple pathways involved in neurodegenerative disease.\u00a0 Given the global resurgence of COVID-19, we have postponed continued work on the IND and the first human clinical trials for NB-02 until global health and macroeconomic conditions improve, with a view toward commencing clinical trial activity in the second half of 2021.<\/p>\n

“We are also evaluating a number of potential opportunities that complement our multi-modal drug platforms.\u00a0 Our development activity is mindful of conserving financial resources.\u00a0 Toward that end, we believe we have the resources to fund our operations into the third quarter of 2021,” concluded Dr. Kang.<\/p>\n

\n Third Quarter Financial and Operating Results Highlights
<\/b>\n <\/p>\n

Upon the merger between Gemphire Therapeutics, Inc. and NeuroBo Pharmaceuticals, Inc. at year-end 2019, the formerly private NeuroBo was considered the accounting acquirer. In accordance with generally accepted accounting principles, the historical financial statements of private company, NeuroBo, are considered the financial statements of the combined company, with the merger accounted for as an acquisition\u00a0of the Gemcabene family of related assets on December 30, 2019<\/span>. The following highlights, therefore, represent the combined operations of both companies for the quarter ended September 30, 2020<\/span> and the operations of NeuroBo as a private company for the comparable quarter ended September 30, 2019<\/span>.<\/p>\n