Biotech Values

[DewDiligence]

GEMP reverse-merges into (private) NeuroBo Pharmaceuticals:

https://www.globenewswire.com/news-release/2019/07/24/1887477/0/en/Gemphire-Therapeutics-and-NeuroBo-Pharmaceuticals-Announce-Merger-Agreement-to-Advance-a-Neurodegenerative-Disease-Company.html

Upon completion of the merger, Gemphire will change its name to NeuroBo Pharmaceuticals, Inc., and plans to change its ticker symbol on the Nasdaq Capital Market to “NRBO.” The merged company will focus on the development of NeuroBo’s clinical-stage drug candidates for the treatment of neurodegenerative diseases.

…pre-merger Gemphire shareholders will own approximately 4.06% of the post-merger combined company and the pre-merger NeuroBo investors will own approximately 95.94% of the post-merger combined company on a fully-diluted basis.

I expected this outcome (#msg-143767492).