Business
Moleculin Biotech, Inc. Reports Financial Results for the First Quarter Ended March 31, 2019
HOUSTON, May 14, 2019 /PRNewswire/ -- Moleculin Biotech, Inc. (NASDAQ: MBRX) ("Moleculin" or the "Company"), a clinical stage pharmaceutical company with a
About this update from Moleculin Biotech, Inc.
[{"type":"text","content":"HOUSTON, May 14, 2019 /PRNewswire/ -- Moleculin Biotech, Inc. (NASDAQ: MBRX) (\"Moleculin\" or the \"Company\"), a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting highly resistant tumors, today announced its financial results for the first quarter ended March 31, 2019. Additionally, the Company announced potential upcoming milestones and recent corporate developments.\n\n \nManagement DiscussionWalter Klemp, Chairman and CEO of Moleculin, said, \"We are off to a very good start in 2019, as we have achieved significant milestones with the development of our oncology portfolio. This time last year we had just commenced our first clinical trial for one drug. Today, we have three drugs in four clinical trials under way with a fifth clinical trial that may start before year end. We are excited with the progress that has been achieved and we expect that 2019 will be the 'year of data' where we provide progress reports as our various drug candidates proceed through their respective clinical trials.\"\n\"One of the highlights of the just completed quarter was FDA 'Fast Track' designation for Annamycin, our drug candidate for the treatment of adults with relapsed or refractory acute myeloid leukemia. Fast Track represents an important first step toward accelerated approval. We presented the FDA a proposal for the designation, and they determined that Annamycin should be eligible for accelerated approval. This potentially cuts years off our development timeline and should make Annamycin attractive to development partners much sooner. We also announced preclinical data supporting the expansion of Annamycin indications to include lung cancer.\"\n\"It bears noting we announced last week that our Annamycin clinical trial in Poland is generating very encouraging results,\" continued Mr. Klemp. \"We have completed the first cohort of the trial and 2 out of 3 patients treated responded sufficiently to qualify for a potentially curative bone marrow transplant. Although we are still early in the trial, we believe this small sample size is indicative of what Annamycin is designed to produce. The standard of care failed these relapsed or refractory patients, and we believe Annamycin has provided new hope for an improved quality of life, and, or possibly, an extension of life.\n\"We continue to see strong ant...