Moleculin looks to raise up to $16.5 million in public offering

16 August 2024

Texan firm Moleculin Biotech (Nasdaq: MBRX) has announced a public offering, raising approximately $5.5 million with stock priced at $2.23 per share.

The proceeds will primarily be used to advance the company’s lead candidate, annamycin, through its ongoing Phase III trials targeting acute myeloid leukemia and soft tissue sarcoma.

Additional funds will support other drug candidates in Moleculin’s pipeline, preclinical research, and collaborations with MD Anderson and HPI.

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