** Shares of drug developer NeuroBo Pharmaceuticals rise 3.3% to $3.43 premarket

** Co says its obesity drug was found to be safe and well tolerated and did not result in any serious adverse effects in an early-stage study conducted with 45 obese, otherwise healthy individuals

** The main goal of the study was to assess the safety and tolerability of the drug by monitoring adverse events

** Five subjects receiving the treatment reported adverse events vs 3 subjects in the placebo group - NRBO says

** As of last close, stock down 10.2% YTD

(Reporting by Kashish Tandon in Bengaluru)

((Kashish.tandon@thomsonreuters.com))