Annamycin Shows 3x Higher Remission Rates in Pivotal AML Trial, Boosting Moleculin Biotech
MBRX sits 38% above its 52-week low of $1.79 on elevated volume (4.6× avg).
Summary
Moleculin Biotech announced positive unblinded interim results from its pivotal Phase 2/3 MIRACLE trial for Annamycin in relapsed or refractory AML. Complete remission rates in the Annamycin arms were 43% and 36%, significantly outperforming the 12% in the control arm. This follows the company's 8-K filing today and prior warnings about its financial viability and need for capital. These strong results for a lead drug candidate in a pivotal trial are critical for the company, potentially validating its core asset and addressing its 'going concern' status. The trial will continue to determine optimal dose selection.
At the time of this announcement, MBRX was trading at $2.47 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $19.1M. The 52-week trading range was $1.79 to $24.00. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.