Moleculin Biotech, (NASDAQ:MBRX) spotted trading -66.35% off 52-week high price. On the other end, the stock has been noted 36.38% away from the low price over the last 52-weeks. The stock changed -1.85% to recent value of $1.06. The stock transacted 87884 shares during most recent day however it has an average volume of 376.55K shares. The company has 47.25M of outstanding shares and 38.28M shares were floated in the market.
On Aug. 16, 2019, Moleculin Biotech, (NASDAQ:MBRX) a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting highly resistant tumors, released its financial results for the second quarter ended June 30, 2019. Additionally, the Company announced potential upcoming milestones and recent corporate developments.
Walter Klemp, chairman and chief executive officer of Moleculin, said,The second quarter of 2019 exhibited significant progress in the various research initiatives and clinical trials that are underway on our drug candidates. During the quarter, we announced three important research developments that we believe can have meaningful impacts in successfully attacking certain rare and difficult cancers.
We recently announced an important discovery for the treatment of glioblastoma – one of the most common, and aggressive, types of malignant brain tumor among adults. In animal models, researchers at MD Anderson have combined our lead STAT3 inhibitor – WP1066 – with radiation therapy, the combination of which appears to have developed an immunological memory in immune-competent mice that enabled them to prevent regrowth of the tumor after these tumor cells were reintroduced. The result was the development of long-term survivors, leading to an increase in overall survival in these models. The median survival time with glioblastoma is 15 to 16 months in people who get surgery, chemotherapy, and radiation treatment. This is an important breakthrough that could have a profound impact in extending the lives of people afflicted with glioblastoma in the years to come.
The second important research development during the quarter, Mr. Klemp continued, was the announcement of additional positive safety and efficacy data from our ongoing Phase 1/2 study – in Poland – of Annamycin for the treatment of acute myeloid leukemia, and consequently the advancement to our third cohort of patients to be treated. This third cohort of patients will be treated at a dose level of 180 mg/m2. The previous two cohorts were treated at lower levels – 120 mg/m2 and 150 mg/m2, respectively. We believe one of the most important unique attributes of Annamycin is its lack of cardiotoxicity, since all currently approved anthracyclines are significantly cardiotoxic (potential to damage the heart). Importantly, we have seen no cardiotoxicity in any of the patients treated to date both in the US and in Europe. We believe this is an important pathway that may increase the opportunity for leukemia patients to qualify for potentially life-saving bone marrow transplants at a much higher rate than traditionally has been the case.
Its earnings per share (EPS) expected to touch remained 13.20% for this year.
According to the most recent quarter its current ratio was 1.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of -4.16% from the mean of 20 days, -9.51% from mean of 50 days SMA and performed -14.60% from mean of 200 days price. Company’s performance for the week was -2.75%, -12.29% for month and YTD performance remained 1.92%.
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