NeuroBo Pharmaceuticals Inc (NRBO) is trading -16% lower at $20.87 today. Shares of the stock are moving less than other names in the space on what is turning out to be a mildly pessimistic day for the Health Care sector.
- NeuroBo stock rose after the company announced a new partnership with Dong-A ST.
- The partnership includes an exclusive license agreement for NRBO to develop and commercialize two candidates, DA-1241 and DA-1726, for the treatment of non-alcoholic steatohepatitis (NASH), obesity and type 2 diabetes.
- The price is now rebounding downwards.
NeuroBo Pharmaceuticals Inc has been trading between a 52-week high of $128.68 and a 52-week low of $7.4. The stock has a market cap of $556 Million.
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 4 drug candidates. The company's recently acquired ANA001 candidate is a proprietary oral niclosamide formulation in development as a treatment for patients with moderate to severe COVID-19 (patients not requiring ventilators). Niclosamide is a potential oral antiviral and anti-inflammatory agent with a long history of use and a well-understood safety profile in humans.
As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:
Dat_Guy_Lxrdd - 2 upvotes - source
its interesting to me that a few stocks have had major gains from reverse splits, confusing to me as people have told me before reverse splits are bad... Edit, if i need to mention a ticker: look at NRBO as an example of the above