Moleculin Biotec Stock Price, News & Analysis

Moleculin Biotech, Inc. (Nasdaq: MBRX) announced a contract with an independent laboratory to test its antiviral drug candidate WP1122 in a COVID-19 animal model using hamsters. Initial data may be available in December 2020, and this study aims to support an Investigational New Drug (IND) application to the FDA in 2021. Moleculin is also conducting additional in vitro studies of its WP1122 portfolio against SARS-CoV-2. The company remains focused on developing treatments for highly resistant tumors and viruses.

Moleculin Biotech, Inc. (Nasdaq: MBRX) will present virtually at two upcoming conferences: H.C. Wainwright's 22^nd Annual Global Investment Conference on September 14, 2020, at 5:00 PM ET, and the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit on September 22, 2020, at 10:00 AM ET. Management will engage in 1-on-1 meetings with investors, with replays of the presentations available on the Company's website for 90 days post-event. Moleculin focuses on developing cancer therapies targeting resistant tumors and viruses.

BRK, Inc. (OTC: BRKK) announces the appointment of Archil Kublashvili to drive business expansion in Europe and CIS. With strong C-suite connections in industrial and cryptocurrency sectors, Kublashvili aims to unlock growth in cash flow-positive market verticals, particularly in zero-emissions transport and the Gen2 sports franchise. BRK specializes in innovative live-action broadcasting technology, supporting both traditional and e-sports. However, the company notes potential risks, including competition and capital raising needs, affecting future performance.

Moleculin Biotech (Nasdaq: MBRX) successfully completed a pre-IND meeting with the FDA regarding Annamycin, focusing on treating soft tissue sarcomas with lung metastases. The FDA did not object to the proposed clinical trial design and provided guidance on next steps, including the need for a repeat dose toxicology study and an end-of-phase 1 meeting after defining the recommended Phase 2 dose. The Company plans to file the IND by the end of 2020 and initiate a Phase 1b/2 trial. CEO Wally Klemp expressed optimism about advancing Annamycin’s development.

Moleculin Biotech, Inc. (Nasdaq: MBRX) announced its participation in the LD Micro 500 Virtual Investor Conference on September 1, 2020. CEO Walter Klemp will present at 4:40 pm ET. The company focuses on oncology drug candidates for resistant tumors, including Annamycin for AML, WP1066 for brain tumors, and WP1220 for cutaneous T-cell lymphoma. Investors can schedule one-on-one meetings with company management during the event. For more details, visit Moleculin's website.

Moleculin Biotech (MBRX) reported its Q2 2020 financial results, highlighting progress across its drug development platforms amidst COVID-19 challenges. The company emphasized advancements in its antiviral candidate, WP1122, showing significant efficacy against SARS-CoV-2 in preclinical studies. Additionally, Annamycin for acute myeloid leukemia met its Phase 1 trial endpoints with a favorable safety profile. However, the company faced a net loss of $10.1 million, up from $1.2 million in Q2 2019, mainly due to increased R&D expenses. As of June 30, 2020, cash reserves stood at $16.7 million.

Moleculin Biotech, Inc. (Nasdaq: MBRX) announced a study from the University of Campinas, Brazil, revealing that elevated glucose levels support SARS-CoV-2 infection. The research indicates that inhibiting glycolysis with 2-deoxy-D-glucose (2-DG) can significantly reduce viral load in vitro. CEO Walter Klemp emphasized the importance of targeting glucose metabolism in COVID-19 treatment and highlighted WP1122's potential as an antimetabolite prodrug. The findings align with previous studies linking glycolysis to SARS-CoV-2 replication, underscoring the significance of WP1122's unique delivery system.

Moleculin Biotech, Inc. (Nasdaq: MBRX) announced on July 21, 2020, that independent laboratory tests confirmed the antiviral activity of WP1122 against coronavirus. Conducted by IIT Research Institute, the tests showed that WP1122, a 2-DG prodrug, demonstrated significant effects in a cell viability assay with a focus on realistic glucose levels. CEO Walter Klemp noted the importance of this validation and indicated plans for animal model testing for IND status. The company is also exploring other compounds in its portfolio for viral treatments.

Moleculin Biotech, Inc. (Nasdaq: MBRX) announced a contract with Sterling Pharma USA LLC for the US production of WP1122, aimed at supporting its development for COVID-19 treatment. This collaboration is expected to enhance preclinical studies and the submission of an Investigational New Drug (IND) application to the FDA. The company is expanding its testing of WP1122 and its analogs against various viruses, yet acknowledges challenges in obtaining in vivo testing due to high demand. The outcomes will also contribute to advancing WP1122 for treating other viral infections and cancers.