Moleculin Biotech, Inc. · NASDAQ:MBRX
Moleculin Biotech — Investor Presentation (May 2026)
48 slides from Moleculin Biotech's investor presentation, May 26, 2026
Slide 1: Moleculin Corporate Presentation May 2026
Slide 2: Forward-looking statements
A All statements contained herein other than statements of historical fat, including statements regarding our future resus of operations and financial position, four business strategy and plans, and our objectives for future operations, are forward.locking statements. The words “believe,” “may” “wil
Slide 3: Management team and advisors
Jonathan ® Foster Eveeutve V? & Chie Financial Ofcar om Oc Se) atte oben Shepard, MO, FAC? Masies!Aaveor Desens a) Se > no Adriane Tove Sram Adar 200 FDA Approvals Big Pharma Exits Moleculin Clinical Trials Million in Management Investment in MBRX Years of Combined Drug Development Experience
Slide 4: Technology Portfolio
Technology Portfolio Preclinical/ Program Indication BGA R/RAMLE Lnblinding of data for 4 STS Lung Mets subjects thereafter Pediatric R/R AML Pancreatic Cancer Pancreatic Cancer we10662 Adult GBM NUIT with Ria STATS Inhibitor Pediatric Brain Tumors we1122 1M; Virol Anti-Metabolite os ay
Slide 5: Opportunity for Market Cap Breakout
Opportunity for Market Cap Breakout 4 — Annamycit * Disruptive Technology — Patented NCE with superior safety & efficacy serving huge unmet need; First ever non-cardiotoxic alternative; avoids resistance mechanisms; superior tissue/organ distribution; ODD & Fast Track status; Rare pediatric potentia
Slide 6: Annamycin: A New Disruptive Second Line AML Therapy
Annamycin: A New Disruptive 1 Second Line AML a!
Slide 7: Approved Therapies Leave an Unmet Need
Approved Therapies Leave an Unmet Need in —— of AML Patients? —_ scone Ee SE Ea Sub-poputation FitPatients Unfit Elderly 95%-65% por (50%) (50%) Eligible Durable cro NNSER2 37% ~18% All AML benefit? 10% 15% 9% Cardiotox; de | Stillleaves. Limited to Critical | ovo/acquired | significant tai characte
Slide 8: Annamycin Provided 2-Fold or Greater Efficacy Than Targeted Therapies
Annamycin Provided 2-Fold or Greater Efficacy Than Targeted Therapies: 60% 1 ~18% of 2L AML Patients Expected to 1 ae : 50% A 1 Achieve CR w/ ATES Therapies i 1 40% ' 3 C 1 1 1 30% ' : 18.0% | 1 21% i 20% 18% 1 Hi I 5.0% I ” “Pode di: kT: 0% ' : Giltertinib Enasidenib —wosidenibOlutasidenib_Gemtuzum
Slide 9: Anthracyclines: Ripe for Disruption
Ant ~50% ~60% 65% 60% $1.5 hracyclines: Ripe for Disruption ( \\ of cancers are treated with an anthracycline of pediatric cancer treatments of treatments > FDA limit result in heart damage of childhood cancer survivors develop cardiac dysfunction billion paid for the last anthracycline improvement
Slide 10: Major Structural Differences; Unique Lipid Delivery System
Major Structural Differences; Unique Lipid Delivery System Annamycin Liposomal Annamycin wy Eeipianszine ‘Amino Group
Slide 11: Annamycin: Disruptive Technology
Annamycin: Disruptive Technology 4 j —— Disruptive Technology — Novel anthracycline with major structural changes and novel lipid delivery system; Biggest advancement in history of anthracyclines First Ever Non-Cardiotoxic Alternative — Zero cardiotoxicity seen in >100 subjects treated, most dosed o
Slide 12: Annamycin Delivered Superior Efficacy in R/R AML
Annamycin Delivered Superior Efficacy in R/R AML CRE CRe? OS for CR® OS for 2L OS for (1-7L)* CR Durability? MRD Negative? BMT? 50% 60% 15.2 months+ 12.4 months 12.4 months 13.1 months 75% 50% The Phase 2 data shown here represent more than 2x the complete remission rate of the leading 2L AML treatm
Slide 13: 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 Ver-Aza/ | VervAva Ver-Dec | Ven-Dec Overall AnnArac 40% CR rate and 60% CRe Relopsedor | Best | cyces | Annet | Annarac | survival rate in Venetociax R/R AML refractory | Eicacy | (
Slide 14: AML Key Opinion Leaders' Support for Annamycin
AML Key Opinion Leaders’ Support for Annamycin nnamycinn heavy pretreste,relapsed/refratory AMAL patents who had progressive disse flowing AraC and VEN is very exeting and vould provide a much-needed treatment enton for othe: pationts who otherwise have very poor eutcomes. Having adr pathuays and pr
Slide 15: 2L Treatment Alternatives
2L Treatment Alternatives Approval study size (n) CRe cR Median number of cycles Durability of response Days in clinic* Suitable Patient Population ve ah (Accolerated approval for 7 ALAM) 38% (in 2L) N/A (in 2U) 2B 6-10 months “105 Must exclude 1L Ven-Aza (half of AML patients) Targeted? (2 unblindi
Slide 16: Adaptive Trial Design MIRACLE
Adaptive Trial Design MIRACLE Moleculin R/R AML AnnAraC Clinical Evaluation Annamycin 2 Unblinded Data Readouts Annamycin Optimum ‘Adult R/R AML Béline *Criteria: 4 Efficacy Control Arm Safety + placebo Tolerability Control Arm HIDAC + placebo leas Doses and adaptive design recommended by FDAin end
Slide 17: Potential Accelerated Timeline
Potential Accelerated Timeline Data Readout If Part A meets high end of, linded Data Readout “easton ty be @ n=30 ableto shorten Part Bto single arm safety/DEI only Rolling NDA Unblinded Data Drug approval Readout @ n=45 process could Breakthrough start as early as Therapy 2027
Slide 18: Recruitment & Preliminary Blinded Activity
Recruitment & Preliminary Blinded Activity Recruitment “FB consenked todate Prelim Blinded Efficacy (n=30) Blinded efficacy is within ‘mat expectations considering randomization Re 40% CRIO% ac sponse Preliminary and Subject to Change As of 2/10/26 Update May 13, 2026 45 subjects of data complete —n
Slide 19: MIRACLE Trial: Registrational Scale
MIRACLE Trial: Registrational Scale 40+ 4 ‘Global sites (Part 8) Continents 8/14 ‘tive /Targeted Countrias Decentralized Design =faster enraliment, ‘renter credibly MIRACLE Active & Targeted Sites @ sites Open(Part A) @ in Processfor Part 66 Annamycin is desperately needed to fill the unmet need for
Slide 20: AML Alone Has Home Run Potential
AML Alone Has Home Run Potential Approved Phase 2 Complete Pre-Approval Tee ASAI ESE Venclexta | lahita/ N 153 226 199/174 20 57 7 10 CR 38% 37% 1976/25% 35% 18% 20% 50% | Re 48% 64% 23%/33% 40% 25% 47% 60% AML 50% 50% 15.23% 30%? 24% 30%? Population Revenue? ~S150M_ _~$700M (ami) ~$400M $1.58 $28 ~
Slide 21: The Full Annamycin Opportunity Extends to Multiple Solid Tumor Indications
The Full Annamycin Opportunity Extends to Multiple Solid Tumor Indications Indications Supported by Existing Clinical & Preclinical Data How Big Could the Market Be for Anna ——— year : Treated with 00 anthracyclines
Slide 22: Slide 22
Slide 23: Financials
+ ~S11.1M pro forma cash on hand with = runway into Q3 20264? * ATM of $7.2M available Financials Nasdaq: MBRX $1.96L — $2.72H 60 Day Stock Price? x 5.3 Shares O/S* <= ~148K — Daily Trading Vol.® inical activity for Mgt has reduced overhead and engaged with institutions for IIT programs for preclini
Slide 24: Upcoming Annamycin & WP1066 Milestones
Upcoming Annamycin & WP1066 Milestones ( ——— Annamycin AML & Pancre Primary effcay data for MIRACLE ‘mor boginst Emory Pret dita on W206 ‘Wiermuation 206 cs206 22026 2027 1 i i Update on non cardiotoxicity MIRACLE 90th ers Begin recruitment of 3% review of subject data by the subject SOc aae line AM
Slide 25: Appendix
— ~ VN Appendix he
Slide 26: History of Development
History of Development __ ) = | im ) = | if {|i le : Py 2
Slide 27: AML Clinical History
AML Clinical History Phase 1: IMB-104. 117% CRi (at suboptimal dosing) Dosing limited by FDA Lifetime Anthracycline Dose (UIMAD) “ial location US ‘Well-tlerated in the study population Limited to low doses Morphologic leukemia free state was achieved in one subject inthe 120 mg/m? cohort Demonstrate
Slide 28: MB-106 (Annamycin + Ara-C; n = 22)
MB-106 (Annamycin + Ara-C (AnnAraC); n = 22) Line Combined subjects Evaluate n 4 ! 10 1 1 1 ‘Subjects Evaluable Not 1 Se 2 ° 1 ! 1 Median Age-Years (Range) 67.5 (19-78) sass) | 71 (53-78) | 695(69-78) 1 oes 8 36%) aon) 1 5 (50%) =f 8%) 1 1 a esas ees 9 (41%) 2(50%) f 6 (60%) ! 7 (50%) Partial Respon
Slide 29: MB-106: Durability, MRD, Prior Therapies - CR/CRi
MB-106: Durability, MRD, Prior Therapies - CR/CRi Preliminary e ~10 most median durapitty for CRS 50% oF ORs bridged to EMT Pos
Slide 30: MB-106 Response by Genotype and Mutation
MB-106 Response by Genotype and Mutation TF’s or PR CRe’s Mots cai crm 25] van =RUNX1/171 F301 89% (n=9) of CRc responses came from subjects with “generally poor prognosis cytogenetics and mutations” Annamycin appears to be Oof0 p33 “genotype/mutation agnostic” oafo Fura Lif | wore oro 1H | ee: 1° |
Slide 31: Notes (see slide 12)
A Notes (see slide 12) a This chart compares Complete Response (CR) rates as submitted for FOA approval for existing 2nd line therapies (as single agents} to preliminary CR data for AnnaraC (the combination of Annamycin and Ara-C); Note: these data are from separate clinical trials, with differing p
Slide 32: MIRACLE: FDA Established Pathway to Approval
[ | i | R AC . li E FDA Established Pathway to Approval ulin R/R AML AnnAraC Clinical Evaluation 3. Arm w/ CR= AnnAraC 2 Early Data Primary SoC Post R/R v. HiDAC? Readouts Endpoint Either Arm Compare Adaptive trial design | Primary Endpoint is ] Standard of care Annamycin per Project Optimus? | Comp
Slide 33: Annamycin: A Novel Anthracycline
Annamycin: A Novel Anthracycline Lode ioe «1 a sn A Epirvbicin tdarubicin Doxorubicin
Slide 34: Estimated Cumulative Percentage of Patients with On Study Cardiac Events
Estimated Cumulative Percentage of Patients with On Study Cardiac Events, by Cumulative Dose 350 100.0% 100 | os % =~ 20% 40% ‘90% 100% Dose-Related Risk of Doxorubicin-Induced Congestive Heart Failure (CHF); Patients with CHF by Cumulative Dose 0 22% 450 31% m% 2% 1% ~ 10%
Slide 35: Anthracycline for Maintenance Therapy
Anthracy: for Maintenance Th Annamycin Non-Cardiotoxic Zero cardiotoxicity per independent expert (84 subjects reviewed to date) Patients treated up to Sx FDA lifetime max for Dox : oa Wider therapeutic Enables repeated cycles and consolidation it 9 ‘window I Avoids Cross Resistance o one with curre
Slide 36: Eliminating Cardiotoxicity
Eliminating Cardiotoxicity 23000 nine 100% Cardiac Event Level FDA Lifetime Limit 65% Candioc Evert >8% Heart Failure Level ~ 4 B50 vine 550 nme Currently Prescribed Anthracyclines Annamycin Zero Cardiotoxicity in “100 Patients Treated + Includes Echo, GLS and troponin evaluation + Independent revie
Slide 37: FDA Recommended Model Shows Annamycin's Lack of Cardiotoxicity
FDA Recommended Model Shows Annamycin’s Lack of Cardiotoxicity The gold standard preclinical Bertozolli model for measuring cardiotoxicity shows Annamycin is effectively non-cardiotoxic when compared with doxorubicin. Free Anna substantial doxorubicin formulate cardiotoxi (API only) is 's cardiotoxi
Slide 38: 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 Disease (MRO) ANN LANN+ ARA-C Day 36 Day 36 Bone marrow vee empea | Tanaesamgna’ | 50: Percent survival a dl ‘0 1020 30 40 60 60 70 60 90 100 110 120 130 Time, d
Slide 39: Performance of AML Therapies in 2L
Performance of AML Therapies in 24 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 + low-dose cytarabine subjects 7
Slide 40: AnnAraC Demonstrated Superior Complete Remission Rate
AnnAraC Demonstrated Superior Complete Remission (CR) Rate Compared to Current Standard of Care __ Complete Remission (CR)
Slide 41: MB-107 STS Lung Mets w/ Annamycin Summary
MB-107 STS Lung Mets w/ Annamycin Summary* *Per final clinical study report
Slide 42: 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 43: Median OS Outperforming in STS Lung Mets
Median OS Outperforming in STS Lung Mets Meta Analysis of 10 Studies MB-107 (n=36) and 2,267 Subjects* Ai ; (Range of Salvage Therapies) (Annamycin) 13.5 Months 13.4 Months I fe 2"4 Line 7* Line Annamycin delivering better performance 7* line than would be expected even in 2"4 line for monotherapy P
Slide 44: PFS and OS Improved in Dose Dependent Manner
PFS and OS Improved in Dose Dependent Manner Median PFS (pays) Median OS (months) Responders (SD or PR) 122 127 after 2 cycles showed 19.7 19.9 improvement in OS and PFS 210-390 mena, < 330 210-390 mano, < 330 Median 6 prior lines mg/m Median 6 prior lines mein $330 mg/m2 and 2 prior lines of therap
Slide 45: WP1066 Update
WP1066 Update Clinical Trial with WP1066 at Northwestern University + Externally funded 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 date + Minimal investment fro
Slide 46: Science Advisors
Science Advisors Waldemar Priebe, PhO MD Anderson Cancer Center Dr. Daniel Von Hoff Mayo Clinic Founding Scientist & SAB Chair Hematology Oncology —————_—_—_____—__—_{ Dr. Martin Tallman Dr. Jorge Cortes Northwestern University Augusta University Dr. Michael Andreeff Dr. Giovanni Martinelli MD Ander
Slide 47: Recent Developments
Recent Developments 2d of Refractory Acute Myeloid Leukemia Y Enrollment and dosing underway in Phase 3 clinical trial, MIRACLE, evaluating Annamycin (naxtarubicin) in combination with cytarabine (AnnArac) for the treatment of R/R AML AAS ‘Multinational with active sites inthe Urited tates, Europe,
Slide 48: Global Network
Global Network i All technology licensed from MD Anderson Cancer Center (MDACC) Supports continuing preciinical 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 externally funded tri