Business
Moleculin Biotech, Inc. Reports Financial Results for the Quarter Ended September 30, 2020
HOUSTON, Nov. 13, 2020 /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, Nov. 13, 2020 /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 and viruses, today announced its financial results for the quarter ended September 30, 2020 and provided a business update.\n\n \n \n \n \n \n \n\n \nManagement Discussion\n\"We are extremely encouraged by the progress we made in the third quarter. Despite the sustained headwinds from the COVID-19 pandemic, we were able to drive the development of Annamycin both in our AML and lung indications, further progress our clinical trials for WP1066, expand and accelerate our infectious disease platform, and bolster our experienced leadership team,\" commented Walter Klemp, Chairman and CEO of Moleculin.\n\"We were particularly encouraged by the progress we made advancing our lead candidate Annamycin, a 'next generation anthracycline' demonstrating little to no cardiotoxicity. In June, we conducted our End of Phase 1 meeting with the US Food and Drug Administration (\"FDA\"). As a result of this meeting, we will expand our protocol-mandated testing for cardiotoxicity throughout the remainder of the Phase 1 trial. This will provide additional safety data, including investigating the continued evidence of little to no cardiotoxicity, and efficacy data which both US and European regulators may consider as we prepare to transition to a Phase 2 clinical trial. We also received approval from Polish authorities to increase the dose-escalation from 30 mg/m2 per cohort to 60 mg/m2 per cohort which will accelerate finding the maximum tolerated dose.\"\n\"We were also excited by the promise Annamycin shows in targeting lung localized tumors. Currently there is an extreme unmet need for a more effective treatment of sarcomas that have metastasized to the lungs, and limited treatment options available for lung metastases resulting from a primary tumor, even though the primary tumor may have been treatable. In September, we were pleased to announce results from an independent laboratory demonstrating in animal studies the ability of Annamycin to generate a 30-fold greater concentration in lungs compared to the current standard of care drug, enabling the targeting of this cancer in its sanctuary site. These results further validate ...