Moleculin Biotech, Inc. · NASDAQ:MBRX
Moleculin Biotech — Investor Presentation (June 2026)
57 slides from Moleculin Biotech's investor presentation, Jun 30, 2026
Slide 1: Corporate Presentation
NASDAQ: MBRX | moleculin.com od Ss MOLECULIN ors BETTER TREATMENTS, MORE TOMORROWS Corporate Presentation JUNE 30, 2026
Slide 2: Disclaimer
Disclaimer All statements contained herein other than statements of historical fact, including statements regarding our future results of operations and financial position, ‘ur business strategy and plans, and out objectives for future operations, are forward-looking staternents. The words “beleves
Slide 3: Our Team
Our Team leeocees' we ‘Walter V. Ktemp a Founder Pesident,CEO and Chairman Bag Donald Picker, PhD Chiet Scientific Officer Jonathan P. Foster Executive VP & Chief Financial Otticer Dr. John Paul Waymack Senior Chief Medical Oticer Robert Shepard, MD, FACP Medical Advisor Adriano Treve Strategie Advi
Slide 4: Technology Portfolio
Technology Portfolio Progam Indication Prectinica/IND/CTA Phase Prose? Phase co Ener 12028 ag aubjecttestodwth , Unbingig of data for 45 Annamycin suentthetetir Intact ee eee racenccnce A Seco ‘WP1066'2 1. Tete oa formutavon, WP10861Vfomlahas prac MOLECULIN AML cinicalal planed 2027 “da estinaouy aa
Slide 5: Opportunity for Market Cap Growth
Opportunity for Market Cap Growth ANNAMYCIN | Disruptive Technology | Clinically Advanced | Market Potential Patented NCE with ODD & Fast Greater Phase 2 efficacy over FDA Nearly $1 bition market in AML ‘Track status and Rare pediatric approved 2L AML therapies®; Phase 3 alone; 10x growth potential
Slide 6: The Annamycin Opportunity: AML
THE ANNAMYCIN OPPORTUNITY. AML AnnAraC Could Meaningfully Address a Significant Unmet Need in R/R AML 50K08 some OR a rpm gene aaaaaaa abaaaaaa aaaa aaaaaaa aaaaaaa aaaa 1A 0 15’ x0 ~D x0 | =Positive outcome f {A} Current preferred therapies leave an unmet need for ~60% of AML patients Recetas memat
Slide 7: Anthracyclines: Ripe for Disruption
3 eae Anthracyclines: Ripe for Disruption with an anthracycline! IG 50% Lf cancersare treated g treatments? of pediatric cancer | Fa ~60% oe la $1.5 oe 65% of tteatments = FDA Limit result in heart damage® 8) |e 60% of childhood cancer survivors develop cardiac dysfunction* billion paid for the last
Slide 8: Major Structural Differences; Unique Lipid Delivery System
Major Structural Differences; Unique Lipid Delivery System L-ANNAMYCIN ‘nataxarubicin liposome DOXORUBICIN ANNAMYCIN Ei ee Amino Group Mulslametlar fesicle 4 se myn nn nthe pnt ai cme nnn mand
Slide 9: Annamycin vs. Currently Prescribed Anthracyclines
Annamycin vs. Currently Prescribed Anthracyclines ‘Comparative profile against the doxorubicin-class standard of care. a Current Anthracyeines ‘Terminal half-tife ~20-48 h" peldilelt sett Neutrat Positive (cationic) Caréiotovicty hema ren Sontag aver etme at ‘Avoids MDR1 mechanisms Yes” No Vesicanta
Slide 10: Annamycin: Disruptive Technology Potential
Annamycin: Disruptive Technology Potential Disruptive Technology Ne advancementin hi vel anthracycline with major struc ry of anthracycline changes and no Potentially First Ever Greater Efficacy Than Non-Cardiotoxic Approved Targeted 2L Alternative ‘AML Drugs Zero cardiotoxicity seen in 60% CRc (50%
Slide 11: Adaptive Trial Design
Adaptive Trial Design Annamycin 190 mg/m? + HiDAC (n=30) PartA Adult R/R AML 2nd Line Annamycin 230 mg/m? + HDAC (n=30) Controt Arm HiDAC + placebo (n=30) Note:The ena tapprovalith EMA wa {Par 8) ofthe sty. Rents willbe submi 2Unblinded Data Readouts Establish Optimum Part B Dose* Adult R/R AML. Lin
Slide 12: Estimated Regulatory Timeline
Estimated Regulatory Timeline 2026 2027 2028 2029 Rolling NDA Unblinded Breakthrough 1n=90 fully Unblinded NDA Approval ‘Therapy Recruited Readout, n=80 029 Designation 39.2028 Sete oti dose submitted MOLECULIN — Timsinelsllusratveand tonardloking estimated doer are subject cial, eplatonandenralment
Slide 13: MIRACLE Part A
MIRACLE Part A Aglobal, adaptive Phase 3 of Annamycin + HiDAC vs. HiDAC alone ARM 1 POPULATION aaa HIDAC + placebo AML adults —* randomization —* ator tt rane mics High-dose ovtarabine ~ N= 17 ox sicst interim ENDPOINTS - MIRACLE PRIMARY ‘Complete remission rate (CR) SECONDARY/ Composite Complete Re
Slide 14: n=45 Interim Results
n45 Interim Results Both Annamycin arms outperform control on primary and secondary endpoints IDMC RECOMMENDATION 57% é . 4%, 50% ae Continue MIRACLE without 78 ificatic ry 36% modification se No safety signal warranting protocol changes. [.] 1LREGIMEN seover 7 55.6% ‘Annamyein 190 ‘Annamycin 230 nc
Slide 15: Pooled Analysis: Annamycin in R/R AML
POOLED ANALYSIS + ANNAMYCIN IN F/RAML Pooled Data: Consistent Efficacy Across 50 Subjects cR = CRe MB-106 AnnAraC- alltines (1st-7th) Allowed multiple cycles n=22 15/28 48% 24/50 39% 38! CR CRe CR ORe MB-108 (MIRACLE) Combined ‘Annamycin 190 +230 pooled MB-106 +MB-108 Measured after only one cycle n
Slide 16: MIRACLE (MB-108) Blinded Subgroup
[MIRACLE (MB-106) + BLINDED SUBGROUP Preliminary Blinded Efficacy in R/R Ven-Treated Subjects 47% 8n7 29% sn7 cR eRe Venetoclax-pretreated (1L) n=17 (che CRYCAI-CRh EEN 2022 Source bind clinica ‘inblindd data evewedbyte/OMC included Tub Grom Se INTERPRETATION These are blinded results— the analysis
Slide 17: Targeted Therapies Create Another Opening for Annamycin
‘STRATEGIC POSITIONING + AML TREATMENT LANDSCAPE Targeted Therapies Create Another Opening for Annamyc Why the shift toward targeted therapy expands Annamycin’s potential role rather than threatening it Limited as Bestin monotherapy — combination THE LOGICAL OUTCOME NEAR TERM Universal salvage We be
Slide 18: Current Standard-of-Care Outcomes in R/R AML
‘TREATMENTLANDSCAPE « RELAPSED OR REFRACTORY AML Current Standard-of-Care Outcomes in R/R AML ‘Across approved salvage regimens for relapsed or refractory acute myeloid leukemia (R/R AML), reported complete-remission rates remain lowand median overall survival short — underscoring a persistent unmet
Slide 19: AnnAraC Efficacy in Relapsed or Refractory AML
(CLINICAL RESULTS © ANNAMYCIN* CYTARABINE (nnArac) AnnAraC Efficacy in Relapsed or Refractory AML Inretapsed or refractory acute myeloid leukemia (F/R AML), AnnAraC has produced complete-remission and composite complete-remission rates ‘across the MB-106 and MB-108 (MIRACLE) cohorts, with activity o
Slide 20: Market Research: Oncologists
[MARKETRESEARCH » ONCOLOGISTS. Oncologists Declare 6 out of 7 Likelihood to Prescribe Annamycin (GAPS INSTANOARD OF CARE HoH UKELIHOOD To PRESCRIBE Only 1 of 19 oncologists is highly satisfied with current R/R AML options. Targeted therapies toonarrow Meaning goes ited to ~20-€0% of UR pation Postve
Slide 21: Market Research: Payers
[MARKET RESEARCH + PAYERS Payers Believe Efficacy Rates Support Competitive Pricing for Annamycin Operational burden, cost and policy complexity are primary payer concerns. Total cost of care eclipses drug acquisition Inpatient burden strains operations 7+Sincus costs oten not ly tse by DRG reimburs
Slide 22: Market Research: Pricing
[MARKETRESEARCH + PRICING How Market Research Arrived at ~33K per Infusion SENCHHARKEDTOVPAEOS,THECLOSESTIVGOMPARATOR __THUANOULATED FROM PAYERELETED PRICE RANGES. surronreoPnce \yxe0s sets the reference point Acceptable band volunteered: $27,500 {he rand posal giman--oprovedin oy $35,000 {ngmonegso
Slide 23: Payers Support a Premium Where Efficacy and Total Cost of Care Align
[MARKETRESEARCH * PAVERS & COMPETITIVE PRICING Payers Support a Premium Where Efficacy and Total Cost of Care Align [MOLECULIN MANAGEMENT CONCLUSION Total cost of care, not drug price atone ‘Hosptatzatin, montoring, complications and sequent {horapy dominate ne AMLcost Buon. Inpatient IV carries DRG
Slide 24: Market Sizing: Annamycin Portfolio
[MARKETSIZING + ANNAMYCIN PORTFOLIO AML Potentially Supports ~900M Opportunity; Pipeline Indications Could Expand Peak Potential to ~$9.9B _ | ~907M —| $9.85B INovcATION USINCIYA ELUSINCIYR SHARE BASE PEAK CUNICAL SHOE Peak Annual Revenue Illustration ‘Adult FIR AOL (0 unmet need PO 2600 16,000 we s
Slide 25: Next Steps
Next Steps Enrollment continues to Part A completion and selection of the optimal dose for Part B RECRUITMENT TO DATE Part A target * n=90 67 190 74% enrolled TODAY PART A First interim Full enrollment Adaptive readout Pivotal expansion ‘n= 45 analyzed (IT) 6701 80 enclled to date Single Annamyein d
Slide 26: Appendix
BETTER TREATMENTS, MORE TOMORROWS Appendix
Slide 27: History of Development
History of Development ee seiorivaen | | [ieisk sauces) | [keane be ra sngeagen AML mae ‘subtherapeutic (MB-107 initiated in FDA results in Gone ‘US; multi-center Phase 3 design ‘Aronex and Callisto begin ‘single agent STS stop development due to | assigns rights to Annamyein escalation) ‘compositio
Slide 28: AML Clinical History
AML Clinical History PHASE 1: MB-104 PHASE 1/2: MB-106 MONOTHERAPY MONOTHERAPY ‘COMBINATION THERAPY 100-120 mgm 120-240 mg/m? Annamyoin + HIDAC + ne? + 9220 ‘ + TERI at suboptimal dosing) ‘+ Median ines of prior therapy 4 ‘Dosing ited by FOALifetmne + Modian ago of 240 mg/m? (RPO2) 2nd Line 69% CRo,
Slide 29: Annamycin Delivered Superior Efficacy in MB-106 in R/R AML
Annamycin Delivered Superior Efficacy in MB-106 in R/R AML cR’ 50% Re! 60% jy OS for CR® 15.2 months+ OS for 2L" 12.4 months . The Phase 2 data shown here represent more QS for (1-7L) 12.4 months than 2x the complete remission rate of the OnuaBERE GRRE leading 2L AML treatments. MRD Negative? 75% Du
Slide 30: MB-106: AnnAraC 2L Efficacy in Venetoclax R/R Patients
MB-106: AnnAraC 2L Efficacy in Venetoclax R/R Patients Venetoclax regimen failure leaves patients with dismal options VEN-AZA/ VEN-AZA/ VEN-DEC VEN-DEC OVERALL RELAPSEDOR —BEST_—CYCLES_—ANNARAC ANNARAC SURVIVAL AnnAraC 40% CR rate and 60% CRe AGE REFRACTORY EFFICACY (MONTHS) CYCLES EFFICACY (MONTHS)
Slide 31: MB-106 Phase 1/2 (AnnAraC; n=22)
MB-106 Phase 1/2 (Annamycin + Ara-C (AnnAraC); n = 22) LINE OF THERAPY ALLLINES (15°=7™) 1° LINE 2OLNE 1 2° & 3° LINE COMBINED \ Subjects Evaluable 22 4 10 i 14 ' ‘Subjects Evaluable Not f Dosed per Protocol 2 ° 4 \ a ' Median Age- Years 7.5 (19-7 : 78) | : deci 67.5 (19-78) 565 (19-69) (aa 69.5 (53
Slide 32: MB-106: Durability, MRD, Prior Therapies
MB-106: Durability, MRD, Prior Therapies - CR/CRi Preliminary ass 2 200 300 400 >600 >700 | rhiizpy|{ MRD | |BMT ——————E__=7=—_y> e e| |\e e e 10 mos+ median durability for CRs e e “Ts archann eee >» e eje Soot Seepeugeatoarr >o ee eje eje = g 2 BB - ovr ciemisin ]=oresuniet Pe =comining # =Prorneso
Slide 33: MB-106 Response by Genotype and Mutation
MB-106 Response by Genotype and Mutation £8996 (n=9) of CRc responses came from subjects with “generally poor prognosis cytogenetics and mutations” g Annamycin appears to be “genotype/mutation agnostic” jctshad mute mtatons or abnermal response ctagony-e/PRy, or R's Date dott asi cHaM Complex Kayoty
Slide 34: Landscape of Targeted Therapy Efficacy
Landscape of Targeted Therapy Efficacy’ ~18% of 2L AML Patients Expected to Achieve CR w/ Approved Targeted Therapies A is y 32% 22% 21% 19% 10% 10% 13% 14% Bor = 49% Prevalence 23% 17% 24% 13% Weighted Benefit” (CRratex Eigbilsy Giltertinid Enasidenin IvosidenibOlutasidenib Gemguzumab Ziftomenib Ar
Slide 35: Notes (see slide Landscape of Targeted Therapy Efficacy)
Notes (see slide “Landscape of Targeted Therapy Efficacy”) This chart shows Complete Response (CR) rates as submitted for FDA approval for existing 2nd line therapies (as single agents); Note: these data are from separate clinical tials with differing protocol designs and should not be considered di
Slide 36: 2L Treatment Alternatives
2L Treatment Alternatives Ven-Azat Targeted? AnnArac? (Po unbindngs at 0 ana 60 Approval study size (n) 67 (Accleatedapprovlfor LAML) 92-247 10 sbjacs pondingin 20%, opproval erpectedon 152) Re 3896 (in 21) 2996 (average) 60% cR 1696 (in 20) 2196 (average) 50% Median numberof cycles 13 45 1.78 Durab
Slide 37: AML Alone Has Significant Potential Value
AML Alone Has Significant Potential Value APPROVED PHASE 2 COMPLETE PRE-APPROVAL 1 Line 2-4 Line Jazz AbbVie Servier Kura’ Syndax! JN) Moleculin \ Wreos VenclextaIdhifa/Tibsovo Ziftomenib Revumenib 617.‘ Annamycin | N 153 286 199/174 20 87 7 ' 10 | cR 38% 37% 1996/25% 35% 18% 24% | 50% CRe 48% 64% 2
Slide 38: Notes for Potential Revenue Estimate
Notes for Potential Revenue Estimate 20:20 Aided initio Sn lpn ACR Ca fo on 2 tle ale hee Suvamssancamsiansuccancs ‘iatasttautanoa. smashes snared ‘atnmanc mas 1 GSiclenes 25a oc gow 20 SUN AM aa nt ct big onde Se: Mere inate Pla Scan nc ree a eet Coen rani etecorrenaramnteninier ry «rience rege ‘in
Slide 39: MIRACLE - FDA Established Pathway
MIRACLE - FDA Established Pathway to MIRACLE Potential Approval Moleculin RIR AML AnnAvaC Clinical Evaluation ANNARAC 3 ARM W/ 2 EARLY CR= SoC POST R/R V. HIDAC DATA READOUTS PRIMARY ENDPOINT EITHER ARM. Compare Adeptive trol design Primary Endpoints Standard of cere Annamycin per Project Optimus? C
Slide 40: n=45 Interim Results
n45 Interim Results Both Annamycin arms outperform control on primary and secondary endpoints IDMc RECOMMENDATION Continue MIRACLE 50. 57% without modification as ane Ady 43% 74 No satoty signal worranting 20/45 ria 36% protocol changes. 29% 29% 5/14 13/45 3/7 12% 2n7 cr Re cr cR % OVER [cr kee 75.6
Slide 41: Annamycin: A Novel Anthracycline
Annamycin: A Novel Anthracycline Lr i UNIQUE NEW STRUCTURE * Incorporates key structural elements of Tye 3 different clinically used = anthracyclines, plus A a Se + The 3'-deamination and introduction of s & \ iodine at C-2; lodine is a material add Lt rel f J to the molecular mass one ve ( cow | ce
Slide 42: Traditional Anthracycline Cardiotoxicity Accumulates Over Time
Traditional Anthracycline Cardiotoxicity Accumulates Over Time and Limits Efficacy Estimated Cumulative Percentage of Patients Dose-Related Risk of Doxorubicin-Induced Congestive with On Study Cardiac Events, by Cumulative Dose’ Heart Failure (CHF); Patients with CHF by Cumulative Dose’ mg/m?
Slide 43: Annamycin: Efficacy of Traditional Anthracyclines with Less Toxicity
Annamycin - Efficacy of Traditional Anthracyclines with Less Toxicity Plus Potential for Maintenance Therapy NON-CARDIOTOXIC ANNAMYCIN Zero cardiotoxicity per independent expert Zero Card Rtisdlty (84 subjects reviewed to date) ° Patients treated up to 5x FDA lifetime max for Dox e Enables repeated
Slide 44: Annamycin: The Next Generation Anthracycline
ANNAMYCIN.-THE NEXT GENERATION ANTHRACYCLINE Engineered to Increase Efficacy While Avoiding the Cardiotoxicity That Limits Today’s Anthracyclines Anthracyctines are among oncology’s most effective chemotherapies, but cumulative heart damage caps the amount patients can safely receive, Annamycin was
Slide 45: Eliminating Cardiotoxicity
Eliminating Cardiotoxicity 3000 maine 100% FDA Lifetime Cardiac Limit Event Level 0% 65% Cardiac >8% Heart Event Level Failure Cardiac Events B50 meine 550 me Currently Prescribed Anthracyclines Annamycin ‘Source Curent Crdalogy Raion, Atrneylne Cardotoeity Prva MOLECULIN _197(11}206579. Congestive
Slide 46: FDA Recommended Model Shows Annamycin's Lack of Cardiotoxicity
FDA Recommended Model Shows Annamycin’s Lack of Cardiotoxicity % of Mice with Heart Lesions ‘The gold standard preclinical Bertozolli model for ‘measuring cardiotoxicity shows Annamycin is effectively non-cardiotoxic when compared with doxorubicin. 100 2 0 | 6 [| l | ° : Le formulated) is essentiall
Slide 47: Annamycin Synergizes with Ara-C in Increasing Survival
Annamycin Synergizes with Ara-C in Increasing Survival in Highly Aggressive p53-null, FLT3 Mutated AML Model Analysis of Minimal Residual Medion survival Pvsvehicle —PYSARA-C Ps L-Ann Disease (MRD) vehicle 06 ARAC ” os <0.0001 an LANNE ARAC LANN 34.5 <0,0001 <0,0001 Day 36 Day 36 LANNeaRAC 58 <0.000
Slide 48: Performance of AML Therapies in 2nd Line
Performance of AML Therapies in 2" Line CLAVELA: International Randomized Phase 3 Study of Elacytarabine Versus Investigator Choice in Patients with Relapsed/Refractory Acute Myeloid Leukemia 381 Elacytarabine Therapies compared: R/R AML (compared with) * high-dose cytarabine + low-dose cytarabine s
Slide 49: AnnAraC Demonstrated Superior Complete Remission Rate
AnnAraC Demonstrated Superior Complete Remission (CR) Rate Compared to Current Standard of Care Complete Remission (CR) 50% bid Annamycin NDA to be based on ri CR rate in 2" line subjects at~1 month con Hipact Hipac? Annérac3 Annacac 3 Annavac? Miro Tat tassel omer and + rane 2nd Une Sedtnepatint n=
Slide 50: MB-107 STS Lung Mets
MB-107 STS Lung Mets w/ Annamycin Summary* *Per final clinical study report
Slide 51: MB-107 Overview
MB-107 Overview LIPOSOMAL ANNAMYCIN (L-ANNAMYCIN)', MB-107 ~ PHASE 18/2 STUDY OF LIPOSOMAL ANNAMYCIN (L- ANNAMYCIN) IN SUBJECTS WITH PREVIOUSLY TREATED SOFT TISSUE SARCOMAS WITH PULMONARY METASTASES A multi-center, open-label, single-arm study that in Phase 1B determined the Maximum Tolerable Dose a
Slide 52: Median OS Outperforming in STS Lung Mets
Median OS Outperforming in STS Lung Mets Annamycin delivering better performance 7" line than would be expected even in 2" line for monotherapy Meta Analysis of 10 Studies and 2,267 Subjects’ MB-107 (n=36) (Range of Salvage Therapies) (annamyein) wea wants 13.5 Months 8-12 Months ©) A SoC Experiment
Slide 53: PFS and OS Improved in Dose Dependent Manner
PFS and OS Improved in Dose Dependent Manner Median PFS (Days) Median OS (Months) Responders (SD or PR) after i 19.9 2 cycles showed improvement in OS and PFS 210-390 mena, $330 210-390 mg/ma, $330 Median 6 prior lines meld Median 6 prior lines gi? $330 mg/m2 and <2 prior lines of therapy a showed i
Slide 54: WP1066 Update
WP1066 Update Clinical Trial with WP1066 at Northwestern University + Externally funded investigator initiated Phase 2 trial of oral WP1066 in (>) combination with radiation treating glioblastoma (GBM), a form of brain cancer @ + Northwestern is actively enrolling subjects with 7 recruited dosed to
Slide 55: Science Advisors
Science Advisors Waldemar Priebe, PhO ‘MD Anderson Cancer Center Founding Scientist & SAB Chair HEMATOLOGY ONCOLOGY Dr. Martin Tallman Northwestern University Dr. Michaot Androoft MD Anderson Cancer Center Dr. Daniel Von Hott Mayo Clinic Dr. Jorge Cort ‘Augusta University Dr. Giovanni Martinet Bolog
Slide 56: Recent Developments
Recent Developments Relapsed or Refractory Acute Myeloid Leukemia ¥ Enrolment and dosing underway in Phase 3 clinical trial, MIRACLE, cytarabine (AnnAraC) for the treatment of F/R AML. -valuating Annamycin (naxtarubicin) in combination with ¥ Muttination tral with active sites in the United St ¥ Fir
Slide 57: Global Network
Global Network 4 cn EOI Bwocecuum All technology licensed from MD Anderson Cancer Center (MDACC) ‘Supports continuing preclinical research on our technology at MDACC Active contractors in US, EU and Asia for drug production and distribution as well as for clinical trial management Past & current ext
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