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Moleculin Biotech, Inc. (MBRX) Stock Dipped in Premarket Despite any Visible Reason

Moleculin Biotech, Inc. (MBRX) is a late clinical-stage biotherapeutics company primarily engaged in the development of a large platform of drugs for treating highly resistant tumors and viruses. One of the lead product candidates of the company is Annamycin is in the clinical stage for the treatment of refractory acute myeloid leukemia and soft tissue sarcoma lung metastasis. Other product candidates include WP1066 which targets brain tumors and pancreatic cancer and WP1220 used for the topical treatment of cutaneous T-cell lymphoma.

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The price of MBRX stock during the regular trading on January 6, 2022 with a drop of 0.56% was $1.77. At last check in the premarket, the stock further dipped by 0.56%.

MBRX: Events and Happenings

On December 27, 2021, MBRX reported initial interim data from its Phase 2 clinical trials for Annamycin. The company concluded the safety review of the third cohort and opened the fourth cohort in dose escalation testing.

On December 1, 2021, MBRX reported about the allowance notification from FDA regarding its Investigational New Drug application submitted earlier for studying WP1122 for treating Glioblastoma Multiforme. The company planned to start a Phase 1 open label, single arm, dose escalation clinical trial for checking the safety, efficacy and pharmacokinetics of the drug.

On November 12, 2021, MBRX reported that the company’s Executives presented at the Investors Roundtable Conference held virtually on November 18, 2021.

MBRX: Key Financials

On November 11, 2021, MBRX announced its financial results for the quarter ended September 30, 2021. Some of the main highlights are as follows

Total Current Assets

Total current assets of the company for third quarter 2021 were $77 million.

Net Loss per Share

Basic and diluted net loss per share for the quarter ended September 30, 2021 was $4.3 million or $0.15 per share as compares to the same period of 2020 when net loss was $3.3 million or $0.33 per share.

On October 19, 2021, MBRX reported about the receipt of authorization from the Medicines and Healthcare Products Regulatory Agency for starting Phase 1a clinical trials of WP1122 which is under the developmental process for stopping the viral replication in people infected with SARS-CoV-2.

On September 27, 2021, MBRX reported that the company’s Executives presented at the Virtual 2021 Cantor Virtual Global Healthcare Conference held on September 27, 2021.

Conclusion

MBRX stock dipped 48% from the past six months. The company’s stock is on declining verge possibly due to unfavorable market condition which are impeding the stock to rise. The analysts are of the view that the company should prepare strong and solid business-oriented strategies to attract the potential investors. Otherwise, the investment rate in the company would decline.

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