NeuroBo Pharmaceuticals Announces $14 Million Registered Direct Offering
Summary
BOSTON, Oct. 1, 2021 /PRNewswire/ -- NeuroBo Pharmaceuticals, Inc. (Nasdaq: NRBO), a clinical-stage biotechnology company focused on developing and commercializing multimodal, disease-modifying therapies for viral, neuropathic and neurodegenerative diseases, today announced that it has entered into a definitive agreement with several institutional investors for the purchase and sale in a registered direct offering of 4,307,693 shares of the Companys common stock, at a purchase price of $3.25 per share. NeuroBo Pharmaceuticals, Inc., a clinical-stage biotechnology company focused on developing and commercializing multi-modal disease-modifying therapies for viral, neuropathic, and neurodegenerative diseases, has a current portfolio of four drug candidates. The companys fourth program, Gemcabene, was previously being developed for the treatment of dyslipidemia, a serious medical condition that increases the risk of life-threatening cardiovascular disease. These statements include, but are not limited to, statements regarding the completion of the registered direct offering, the satisfaction of customary closing conditions related to the registered direct offering and the intended use of net proceeds from the registered direct offering as well as the development of NeuroBos product candidates and the therapeutic potential, timing and nature of clinical trials and potential regulatory approval of NeuroBos clinical programs and pipeline. Forward-looking statements are usually identified by the use of words, such as "believes," "anticipates," "expects," "intends," "plans," "may," "potential," "will," "could" and similar expressions.