CAMBRIDGE, Mass. – NeuroBo Pharmaceuticals, Inc. (NASDAQ: NASDAQ:NRBO) has announced pre-clinical findings indicating that its drug candidate DA-1241, in combination with semaglutide, shows improved treatment effects for liver fibrosis compared to either drug alone. This data will be presented at the European Association for the Study of the Liver (EASL) Congress 2024, set for June 5-8 in Milan, Italy.
The research focuses on DA-1241, a G-Protein-Coupled Receptor 119 (GPR119) agonist, and its use with semaglutide, a GLP1R agonist, in metabolic dysfunction-associated steatohepatitis (MASH) models. According to the press release, the combination therapy yielded better results in reducing hepatic steatosis, inflammation, and fibrosis while improving glucose control in pre-clinical studies.
NeuroBo's President and CEO, Hyung Heon Kim, highlighted the significance of these findings, stating that the data presented at the EASL Congress reinforces the therapeutic potential of DA-1241's mechanism. Kim also mentioned that enrollment for Part 1 of the Phase 2a clinical trial of DA-1241 in MASH was completed in April, with patient enrollment for Part 2 underway. This segment of the trial explores the efficacy of DA-1241 in combination with sitagliptin, a DPP-4 inhibitor.
The pre-clinical studies demonstrated that the combination therapy not only improved liver biopsy scores but also showed more than additive effects on metabolic, biochemical, and histological endpoints in mouse models. Moreover, the treatment was associated with a reduction in plasma transaminases and liver cholesterol levels.
NeuroBo anticipates reporting top-line data from the ongoing Phase 2a clinical trial in the fourth quarter of this year. The company continues to explore DA-1241's potential as a standalone and/or combination therapy for both MASH and type 2 diabetes.
The press release also contained forward-looking statements regarding the potential impact on future financial and operating results of NeuroBo, the timeline for regulatory submissions, and the ability to obtain regulatory approval for the company's product candidates.
The disclosed data is based on a press release statement and will be accessible on NeuroBo's website following the EASL Congress presentations.
InvestingPro Insights
As NeuroBo Pharmaceuticals, Inc. (NASDAQ: NRBO) gears up to present its promising pre-clinical findings at the EASL Congress, investors are closely monitoring the company's financial health and market performance.
According to InvestingPro, NeuroBo holds more cash than debt on its balance sheet, which is a positive sign for the company's financial stability. Still, it is important to note that NeuroBo is quickly burning through cash, which could impact its ability to fund ongoing and future research without seeking additional capital.
The company's stock has experienced significant fluctuations, with a notable return over the last week and month, as indicated by an 8.02% one-week price total return and a 46.79% one-month price total return. This could reflect investor optimism around the upcoming trial results and conference presentation. Yet, the stock's performance over the last decade and five years has been less encouraging, with a price that has fallen significantly, suggesting long-term challenges in value growth.
InvestingPro Data reveals a market capitalization of approximately 22.47 million USD, underscoring the relatively small size of NeuroBo within the biotech industry. The company's P/E ratio stands at -1.36, reflecting its current lack of profitability. Moreover, NeuroBo's EBITDA for the last twelve months as of Q1 2024 is reported at -20.24 million USD, which further highlights the company's current financial challenges.
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