NeuroBo Pharmaceuticals Inc (NRBO)

[powerbattles]

NeuroBo Pharmaceuticals received approval of an amendment to its Contingent Value Rights agreement, incentivizing the evaluation of Gemcabene as a treatment for COVID-19
8:05 AM ET 3/24/21 | Briefing.com
The CVRs were distributed to the holders of Gemphire Therapeutics, Inc. common stock on December 30, 2019, immediately prior to its merger with NeuroBo Pharmaceuticals, Inc. The CVR amendment will allow NeuroBo to pursue Gemcabene as a therapy for COVID-19, with its own resources. In exchange, CVR holders will receive 10% of certain gross proceeds received by the company for any indication outside of treating cardiometabolic diseases. CVR holders will retain the original CVR for 80% of any proceeds of Gemcabene for cardiovascular conditions.