FSR - Why Is NeuroBo (NRBO) Stock Up 47% Today?
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NeuroBo (NASDAQ:NRBO) stock is rising higher on Thursday after the clinical-stage biotechnology company announced a new strategic partnership with Dong-A ST.
NeuroBo has entered into a conditional exclusive license agreement that has it agreeing to develop and commercialize DA-1241 and DA-1726. These are treatments in development for nonalcoholic steatohepatitis (NASH), obesity, as well as type 2 diabetes.
That agreement has NeuroBo taking responsibility for the global development, regulatory, and commercial activities of the treatments. However, it does exclude certain Asian-Pacific areas. This will also see Dong-A ST handle the manufacturing of the medicines.
NeuroBo is Already Planning Clinical Trials
Gil Price, M.D., president and CEO of NRBO, said the following about the agreement.
“Once the transaction has closed, which is contingent upon certain closing conditions, we will be uniquely positioned to initiate a phase 2a study of DA-1241 in NASH in the first half of 2023, with data expected in the second half of 2024. We also intend to initiate a phase 1a safety study of DA-1726 in the first half of 2023, for which data is expected in the second half of 2023.”
Today’s news has shares of NRBO stock seeing heavy trading. That has more than 5 million shares on the move as of this writing. That’s a massive leap over its daily average trading volume of about 226,000 shares.
NRBO stock is up 46.8% as of Thursday afternoon.
There’s plenty more stock market stories for traders to dive into below!
InvestorPlace has all of the latest stock news traders need to know about for Thursday! That includes everything happening with shares of Fisker (NYSE:FSR), Rivian (NASDAQ:RIVN), and Affirm (NASDAQ:AFRM) stock. You can learn more about these matters at the following links!
More Thursday Stock Market News
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- AFRM Stock Alert: What to Know as Regulatory Agency Targets Buy Now, Pay Later Companies
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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