NRBO - NeuroBo on track to post a record gain after announcing a special meeting

JuSun/iStock via Getty Images NeuroBo Pharmaceuticals ([[NRBO]] +31.8%) is on course to witness its biggest one-day gain in more than a year today. Last week, the company announced an upcoming Special Meeting scheduled to seek stockholder approval for the issuance of common stock. The offer is in connection with a settlement of milestone payments that will become payable to former security holders of ANA Therapeutics, which was acquired by the company in January. The privately-held biotechnology company had a potential COVID-19 treatment ANA-001 in its pipeline. The oral therapy of niclosamide formulation was undergoing Phase 2/3 studies at the time. Per the agreement, ANA can receive up to $175.5M of milestone payments including $45.0M subject to the FDA approval of any niclosamide product. The Phase 1 data for ANA001 are expected in Q2 2021, Richard J. Kang CEO of NeuroBo said with the company’s recent earnings release.

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NeuroBo on track to post a record gain after announcing a special meeting