Business
Moleculin Reports First Quarter 2023 Financial Results
– Continued clinical and operational execution across ongoing development programs with growing body of positive preclinical and clinical data – Sufficient
About this update from Moleculin Biotech, Inc.
[{"type":"text","content":"– Continued clinical and operational execution across ongoing development programs with growing body of positive preclinical and clinical data\n– Sufficient capital to fund operations into the third quarter of 2024\n– Company to host conference call and webcast today at 8:30 AM ET\nHOUSTON, May 11, 2023 /PRNewswire/ -- Moleculin Biotech, Inc., (Nasdaq: MBRX) (\"Moleculin\" or the \"Company\"), a clinical stage pharmaceutical company with a growing pipeline, including Phase 2 clinical programs, for hard-to-treat tumors and viruses, today reported its financial results for the quarter ended March 31, 2023. As previously announced, the Company will host a conference call and live audio webcast, today, Thursday, May 11, 2023, at 8:30 AM ET (details below).\n\n \n \n \n \n \n \n\n \n\"Through our team's continued operational and clinical execution throughout 2022, we have set the stage for numerous clinical data readouts in 2023,\" commented Walter Klemp, Chairman and Chief Executive Officer of Moleculin. \"We believe that with the progress we've made and the milestones ahead, we are well positioned to unlock significant potential for all stakeholders, and most importantly, address unmet needs for people with highly resistant cancers and viruses.\"\nRecent Highlights \nSuccessfully completed the first cohort in that Phase 1b portion of its ongoing Phase 1b/2 trial evaluating Annamycin in combination with Cytarabine (Ara-C) for the treatment of AML (MB-106).Announced presentation of positive pharmacokinetics and tissue-organ distribution data demonstrating high anti-tumor activity of Annamycin in preclinical cancer models in a poster titled, Exploration of Annamycin Organotropism to Target Primary and Metastatic Liver Cancers, at the American Association for Cancer Research Annual Meeting 2023.Summary of Financial Results for the First Quarter 2023 \nResearch and development (R&D) expense was $5.7 million and $4.6 million for the three months ended March 31, 2023 and 2022, respectively. The increase of $1.1 million is mainly related to the WPD sublicense termination.\nGeneral and administrative (G&A) expense was $2.6 million and $2.4 million for the three months ended March 31, 2023 and 2022, respectively. The increase of $0.2 million is mainly related to an increase in regulatory and legal services, and consulting & advisory fees.\nA...