Neurobo Pharmaceuticals Inc [NRBO] - Last Close: $16.86
Neurobo Pharma is surging on news of a new licensing deal.
South Korean pharma company Dong-A ST has agreed to license two key drugs to Neurobo Pharma in a multi-million-dollar deal.
Under the terms of the deal, Neurobo will get Dong-A's exclusive global development rights for DA-1241 to treat type 2 diabetes and DA-1726 for obesity and non-alcoholic fatty hepatitis.
In exchange, Dong-A will receive $22 million in upfront cash payments, plus milestones for each stage and sales-based royalties.
Dong-A will also be responsible for producing clinical samples and products for commercialization.
NRBO is one of today's top premarket performers with a 50.4% gain on the licensing news.
My Take: Today's rally shows that the market believes these two drug candidates have potential. If they're right, NRBO could be set up for more gains down the road. However, drug trials can take years to play out sometimes, so be prepared to be patient if you decide to make a move.
iMedia Brands [IMBI] - Last Close: $0.8452
A new analyst upgrade is boosting shares of iMedia Brands.
This morning, B. Riley Securities upgraded IMBI to "neutral" from "buy" and announced a $5 price target on the stock.
B. Riley's price target represents a 491% upside from IMBI's current price point.
The analyst upgrade is pushing share prices higher in today's premarket.
IMBI is one of today's top performers with a 16.7% gain.
My Take: Don't put too much faith in the analyst price target, but it's worth taking note of the institutional attention this stock is getting.
