NRBO 400% Upside Potential | Covid-19 Treatment

On 4/20/2021 HC Wainwright brokerage Reiterated Rating to Buy and a Price Target of $16.00 for NRBO

But how come? What`s the catalyst? Why NeuroBo Pharmaceuticals was up 40% yesterday?

Richard J. Kang, CEO: "Throughout the first quarter of 2021, we continued to make progress advancing the 60-patient Phase 2/3 clinical trial of our lead drug candidate, ANA001, a proprietary oral niclosamide formulation, as a treatment for moderate to severe COVID-19."
"we expect to report preclinical in vitro data demonstrating Gemcabene's ability to treat COVID-19 variants alone and in combination with ANA001."
"NeuroBo has the financial foundation to fund operations at the current level into the fourth quarter of 2021 and we expect to achieve a number of value-creating milestones with our COVID-19 programs in the coming months."

Besides the Covid-19 treatment, NeuroBo Pharmaceuticals has a current portfolio of four drug candidates focused on developing and commercializing multi-modal disease-modifying therapies for viral, neuropathic, and neurodegenerative diseases.

The Market Cap if only 88.473Mil at the time or writing!