NeuroBo Pharmaceuticals Reports Third Quarter 2024 Financial Results and Provides Corporate Update

Core Insights - NeuroBo Pharmaceuticals reported positive top-line data from the SAD Part 1 of its Phase 1 clinical trial for DA-1726, indicating favorable safety, tolerability, and dose-linear pharmacokinetics for obesity treatment [2][4] - The company has $21.7 million in cash as of September 30, 2024, which is expected to fund operations into the third quarter of 2025 [15] - Top-line results from the Phase 2a trial of DA-1241 for MASH are anticipated in December 2024, with further data from the MAD Part 2 of the Phase 1 trial of DA-1726 expected in the first quarter of 2025 [6][4] Clinical Developments - The SAD Part 1 trial of DA-1726 involved 45 obese participants, showing no serious adverse events and a favorable safety profile, leading to the addition of cohorts to explore maximum tolerated doses [4][2] - A joint research agreement was signed with Dong-A ST and ImmunoForge to develop a long-acting, once-monthly formulation of DA-1726 [3][5] - The company plans to initiate a multicenter, randomized, double-blind, placebo-controlled Part 3 of the Phase 1 clinical trial for DA-1726 after completing Part 2 [3] Financial Performance - R&D expenses for Q3 2024 were approximately $4.5 million, up from $2.3 million in Q3 2023, primarily due to increased activities for DA-1241 and DA-1726 [7] - For the nine months ended September 30, 2024, R&D expenses totaled approximately $17.5 million, compared to $5.3 million for the same period in 2023, reflecting ramped-up activities following the acquisition of the drug candidates [8] - The net loss for Q3 2024 was approximately $5.7 million, or $0.55 per share, compared to a net loss of $3.8 million, or $0.75 per share, in Q3 2023 [13] Future Milestones - The last patient visit in the MAD study Part 2 is expected in Q4 2024, with top-line data anticipated in Q1 2025 [6] - The planned Phase 1 Part 3 trial for DA-1726 is expected to begin in Q3 2025, with interim data readout around mid-2026 and top-line results in the second half of 2026 [6] - Top-line results from the two-part Phase 2a clinical trial of DA-1241 in MASH are expected in December 2024 [6]