NeuroBo Pharma surges after gaining rights to liver disease drugs

Dong-A ST

15/09/2022 12:18

** NeuroBo Pharmaceuticals Inc's  NRBO.O  shares rise 54.2%
to $26, biggest pct gainer across U.S. stock exchanges premarket
    ** NRBO says it entered into an agreement with South
Korea-based Dong-A ST Co Ltd  170900.KS , which gives it
exclusive rights over two of Dong-A's compounds  urn:newsml:reuters.com:*:nEOL44tsXq
    ** The two compounds, DA-1241 and DA-1726, are for treatment
of obesity and non-alcoholic fatty liver disease
    ** NBRO says it plans to develop DA-1241 for the treatment
of a type of diabetes
    ** Under the agreement, Dong-A will receive an upfront
payment of $22 mln and will be eligible for payment of $316 mln
on meeting certain milestones
    ** As of Wednesday's close, NeuroBo shares down 54% YTD

 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com))