Moleculin Biotec Stock Price, News & Analysis

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.

Moleculin Biotech, Inc. (Nasdaq: MBRX) announced a significant update on its Annamycin clinical development for treating relapsed acute myeloid leukemia (AML). Following collaboration with US and European regulators, the company will expand cardiotoxicity testing in its Phase 1 trial. European authorities approved increasing the dose-escalation increment from 30 mg/m² to 60 mg/m². The first patient has been treated at 240 mg/m² without cardiotoxicity. Moleculin anticipates establishing a recommended Phase 2 dose in 2021 and is preparing for a Phase 1 trial for lung metastases by year's end.

Moleculin Biotech, Inc. (Nasdaq: MBRX) announced a significant advancement in cancer research with the publication of a peer-reviewed article in Clinical Cancer Research. The study demonstrates that the combination of Moleculin's STAT3 inhibitor, WP1066, and whole brain radiation therapy (WBRT) enhances median survival time and induces long-term survival in mice with human brain tumors. The findings suggest an improved therapeutic effect and the potential to develop immune memory, potentially preventing tumor recurrence.

Moleculin Biotech announced significant preclinical findings on Annamycin at the AACR Annual Meeting, which took place from June 22-24, 2020. The poster presentation highlighted Annamycin's ability to achieve high concentrations in lung tissues, leading to superior anti-tumor efficacy against lung-localized tumors in mice. Annamycin demonstrated nearly six times the lung accumulation compared to doxorubicin, indicating potential for improved treatment outcomes in patients with metastatic lung cancer. The company aims to explore Annamycin's clinical applications further.

Moleculin Biotech, Inc. (Nasdaq: MBRX) will present at the virtual Life Sciences Investor Forum on June 25, 2020, from 1:30 PM to 2:00 PM ET. CEO Walter Klemp will lead the presentation, allowing real-time questions from investors. An archived webcast will be available for those who miss the live event. Investors are encouraged to pre-register via the event's page. Moleculin focuses on developing oncology drug candidates targeting resistant tumors, including Annamycin for acute myeloid leukemia, WP1066 for brain tumors, and WP1220 for cutaneous T-cell lymphoma.

Moleculin Biotech, Inc. (Nasdaq: MBRX) announced confirmed in vitro testing results demonstrating the antiviral potential of WP1122 against Human Coronavirus 229E, a surrogate for SARS-CoV-2, on June 1, 2020. The company plans to pursue further in vitro and in vivo studies, anticipating an IND filing for COVID-19 treatment by the end of 2020. Moleculin intends to leverage non-GLP toxicology data in its IND submission. The FDA's guidance was received positively, helping shape the company’s clinical development strategy for WP1122.