06:01 PM EDT, 06/25/2024 (MT Newswires) -- NeuroBo Pharmaceuticals ( NRBO ) said late Tuesday it has raised about $20 million from its share offering through H.C. Wainwright as its placement agent.

NeuroBo said it plans to use the proceeds for working capital and and general corporate purposes.

The potential additional proceeds to NeuroBo from its clinical milestone-linked Series Warrants, if fully exercised, will be about $50 million and will be used to fund the trial of DA-1726, the clinical-stage biotechnology company.

The shares were up more than 8% in after-hours activity.