2024-02-01 09:12:39 ET
DENVER, Colo., Feb. 1, 2024 ( www.247marketnews.com )- NeuroBo Pharmaceuticals, Inc. (NASDAQ: NRBO) reported, this morning, that the U.S. Food and Drug Administration (FDA) cleared its Investigational New Drug (IND) application for DA-1726, a novel, dual oxyntomodulin (OXM) analog agonist that functions as a glucagon-like peptide-1 receptor (GLP1R) and glucagon receptor (GCGR). NeuroBo plans to initiate its Phase 1 clinical trial, for the treatment of obesity, in the first half of this year.
NeuroBo Pharmaceuticals is trading at $3.98, up $0.71 (+21.71%), on 3.7M shares traded.
Its 52-week range is $2.8888 to $7.5992. It popped to a premarket high of $6.75 and hit a new 52-week low last week.
“Clearance of the IND for DA-1726 allows us to proceed with the Phase 1 program for this novel GLP-1 and glucagon dual receptor, a potential new treatment to address the significant obesity market,†stated Hyung Heon Kim, President and Chief Executive Officer of NeuroBo.
“About NeuroBo Pharmaceuticals
NeuroBo Pharmaceuticals, Inc. is a clinical-stage biotechnology company focused on transforming cardiometabolic diseases. The company is currently developing DA-1241 for the treatment of Metabolic Dysfunction-Associated Steatohepatitis (MASH) and Type 2 Diabetes Mellitus (T2DM), and is developing DA-1726 for the treatment of obesity. DA-1241 is a novel G-protein-coupled receptor 119 (GPR119) agonist that promotes the release of key gut peptides GLP-1, GIP, and PYY. In preclinical studies, DA-1241 demonstrated a positive effect on liver inflammation, lipid metabolism, weight loss, and glucose metabolism, reducing hepatic steatosis, hepatic inflammation, and liver fibrosis, while also improving glucose control. DA-1726 is a novel, dual oxyntomodulin (OXM) analog that functions as a glucagon-like peptide-1 receptor (GLP1R) and glucagon receptor (GCGR) for the treatment of obesity. OXM is a naturally-occurring gut hormone that activates GLP1R and GCGR, thereby decreasing food intake while increasing energy expenditure, thus potentially resulting in superior body weight loss compared to selective GLP1R agonists.â€
Website: www.neurobopharma.com
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For further details see:
NeuroBo (NASDAQ: NRBO) Flying on FDA Clearance of IND for Phase 1 Obesity Treatment Clinical Trial
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