Moleculin Biotech (NASDAQ: MBRX), a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting highly resistant tumors and viruses, has closed an underwritten public offering of an aggregate of 16,414,736 shares of common stock, including an additional 2,141,052 shares per the full exercise of the over-allotment option granted to the underwriters. According to the update, Moleculin secured approximately $78 million in gross proceeds with each of the shares sold at the public offering price of $4.75. Moleculin Biotech intends to use the proceeds to fund its planned clinical trials, preclinical programs, for other research and development activities and for general corporate purposes. ROTH Capital Partners acted as co-manager for the offering.
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About Moleculin Biotech Inc.
Moleculin Biotech is a clinical-stage pharmaceutical company focused on the development of a broad portfolio of oncology drug candidates for the treatment of highly resistant tumors and viruses. The company’s clinical-stage drugs are: Annamycin, a next generation Anthracycline designed to avoid multidrug resistance mechanisms with little to no cardiotoxicity being studied for the treatment of relapsed or refractory acute myeloid leukemia (“AML”); WP1066, an immune/transcription modulator capable of inhibiting p-STAT3 and other oncogenic transcription factors while also stimulating a natural immune response, targeting brain tumors, pancreatic cancer and hematologic malignancies; and WP1220, an analog to WP1066, for the topical treatment of cutaneous T-cell lymphoma. Moleculin is also engaged in preclinical development of additional drug candidates, including other immune/transcription modulators, as well as WP1122 and related compounds capable of metabolism/glycosylation inhibition. For more information about the company, visit www.Moleculin.com.
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