NeuroBo jumps on FDA nod to begin human trials for obesity drug

MetaVia

01/02/2024 13:49

** Shares of drug developer NeuroBo Pharmaceuticals  NRBO.O 
rise 41.6% to $4.65 premarket  
    ** Co says the U.S. Food and Drug Administration (FDA) has
cleared the application to begin human trials for its
experimental drug to treat obesity 
    ** The drug, DA-1726, acts on a gut hormone called
oxyntomodulin which promotes weight loss by reducing appetite
and increasing energy expenditure- NRBO
    ** In preclinical studies, DA-1726 showed "better
tolerability profile" than popular weight-loss treatments called
GLP-1s such as Nordisk's  NOVOb.CO  Wegovy and Eli Lilly's
 LLY.N  Zepbound -NRBO
    ** NRBO plans to begin trials in the first half of the year
and reveal study data in the first half of 2025
    ** Up to last close, stock was down ~48.3% in the last 12
months 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))