Featured Company News - Moleculin Biotech Acquires Active Drug Compound for the Treatment of Brain Cancer
Research Desk Line-up: Tesaro Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 18, 2017 /Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Moleculin Biotech, Inc. (NASDAQ: MBRX), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=MBRX. The Company announced on August 16, 2017, that it has acquired WP122, an active drug compound that it plans to study for the treatment of brain tumors. Moleculin has secured exclusive access to a significant quantity of GMP synthesized WP1122 drug substance from its sublicense partner in Poland. Moleculin Biotech is a preclinical stage pharmaceutical Company focused on the development of anti-cancer drugs, some of which are made at MD Anderson Cancer Center. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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The Company made this announcement following the realization of potential of WP1122 technology, and its ability to be a new approach for treating brain tumors. Moleculin Biotech announced that access to this product would enable it to accelerate preclinical toxicology and analytical testing of WP1122, which enables preparation of an Investigational New Drug application so that it could begin proof of concept clinical trials.
The Company stated that the research at MD Anderson using live human brain tumors transplanted into mice has shown that WP1122 has the potential to outperform the current standard of care treatment for glioblastoma, one of the most pervasive forms of brain tumors. Moleculin Biotech expects to get this drug into human testing to determine if there is something which could make a real difference for patients.
Moleculin Biotech's lead product candidate is Annamycin, an anthracycline being studied for treatment of relapsed or refractory acute myeloid leukemia (AML). The Company also has two preclinical small molecule portfolio where one is focused on the modulation of hard-to-target tumor cell signaling mechanisms and the recruitment of the patient's own immune system, while the other portfolio targets the metabolism of tumors.
On July 18, 2017, the Company announced a new technology license agreement with MDA Cancer Center based on new patent applications the Company intends to file relating to its drug Annamycin for the treatment of relapsed or refractory AML. Post the announcement, on August 09, 2017, Moleculin Biotech announced that it has received recent FDA approvals for new drugs for the treatment of AML. According to the Company, the recent approval of three new drugs - Rydapt, Vyxeos, and Idhifa - for the treatment of AML offer additional options in terms of treatments in defined subpopulations.
With respect to AML, Rydapt is approved only for patients with a specific gene mutation and for use in combination with the standard of care chemotherapy. Vyxeos is approved as an option to the standard of care, but only for specific AML patients. Jazz Pharmaceuticals purchased Vyxeos in a $1.5 billion acquisition of Celator Pharmaceuticals. Also, on August 03, 2017, the Company appointed BioScience SA, a Polish contract research organization to begin identifying and preparing clinical testing sites in Poland for its drug Annamycin for the treatment of relapsed or refractory AML.
Last Close Stock Review
On Thursday, August 17, 2017, the stock closed the trading session at $2.56, slipping 3.40% from its previous closing price of $2.65. A total volume of 274.78 thousand shares have exchanged hands. Moleculin Biotech's stock price skyrocketed 36.90% in the last one month, 239.07% in the past three months, and 111.57% in the previous six months. Furthermore, since the start of the year, shares of the Company have surged 12.28%. The stock currently has a market cap of $48.28 million.
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