CAMBRIDGE, Mass. - NeuroBo Pharmaceuticals, Inc. (NASDAQ: NASDAQ:NRBO), a biotech firm engaged in developing treatments for cardiometabolic diseases, has announced the upcoming presentation of its research findings at two key scientific conferences in June.
The company's poster presentations will feature pre-clinical data on its drug candidates DA-1241 and DA-1726, which are being developed for metabolic dysfunction-associated steatohepatitis (MASH) and obesity, respectively.
According to the press release, the European Association for the Study of the Liver (EASL) Congress 2024 in Milan, Italy, will showcase two posters on DA-1241, a novel G-Protein-Coupled Receptor 119 agonist. The presentations are scheduled for Thursday, June 6, and will discuss the drug's potential in improving liver fibrosis and its hepatoprotective effects when combined with another medication, semaglutide.
Additionally, the American Diabetes Association (ADA) 84th Scientific Sessions in Orlando, Florida, will feature a poster on DA-1726, a dual oxyntomodulin analog agonist targeting obesity treatment and lipid management. This presentation will take place on Saturday, June 22.
NeuroBo's President and CEO, Hyung Heon Kim, expressed optimism about the scientific recognition of the compounds, highlighting the completion of enrollment for Part 1 of the Phase 2a clinical trial of DA-1241 and the dosing of the first patient in the Phase 1 trial of DA-1726. The company expects to release top-line data from these trials between the third quarter of 2024 and the first quarter of 2025.
The biotechnology company is developing DA-1241 for the treatment of MASH and Type 2 Diabetes Mellitus (T2DM), and DA-1726 for obesity. In preclinical studies, DA-1241 showed positive effects on liver inflammation and metabolism, while DA-1726 demonstrated sustained weight loss by decreasing food consumption and increasing energy expenditure.
The posters will be made available on NeuroBo's website following the presentations. This announcement is based on a press release statement from NeuroBo Pharmaceuticals.
InvestingPro Insights
As NeuroBo Pharmaceuticals, Inc. (NASDAQ: NRBO) prepares to present its research findings, investors may be closely monitoring the company's financial health and market performance.
According to InvestingPro data, NeuroBo has a market capitalization of $15.85 million and is operating with negative earnings, reflected in its price-to-earnings (P/E) ratio of -1.30. The company's price/book ratio as of the last twelve months ending in Q4 2023 stands at 0.94, suggesting that the stock is trading close to its book value.
InvestingPro Tips for NeuroBo provide a deeper analysis of the company's financial situation. Despite holding more cash than debt, which is a positive sign of financial stability, the company is rapidly burning through its cash reserves.
Moreover, NeuroBo has been identified as suffering from weak gross profit margins and has not been profitable over the last twelve months. These factors, combined with a stock price that has moved often in the opposite direction of the market and has performed poorly over the last month, paint a challenging picture for the company.
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