Moleculin Biotech Inc (NASDAQ: MBRX) is having an incredibly strong start to the trading session this morning, and for good reason. The comapny announced that it has achieved a breakthrough discovery, exciting investors and sending the stock screaming for the top. Today, we’ll talk about:
- The discovery;
- what we’re seeing from MBRX stock as a result; and
- what we’ll be watching for ahead.
MBRX Announces Breakthough Discovery
As mentioned above, Moleculin Biotech is having an incredibly strong start to the trading session this morning after announcing a breakthrough. In a press release issued early this morning, the company said that its own sponsored research has confirmed a recent published study.
MBRX said that the confirmation demonstrates the ability of its clinical-stage immuno-stimulated STAT3 inhibitor, known as WP1066, to inhibit a key immune checkpoint target known as PD-L1.
In a statement, Dr. Donald Picker, CSO at MBRX, had the following to offer:
We have known for some time that WP1066 had the potential to stimulate a natural immune response. But, this data suggests that our drug may be capable of having a major impact on the field of checkpoint blockades. With this information combined with findings from other recently published studies demonstrating the impotant role of STAT3 in cancer immunology, we plan to run additional in vitro and in vivo studies, some of which are already underway, with WP1066 in combination with well-known checkpoint inhibitors to gather more data on this response.
The above statement was followed up by Walter Klemp, Chairman and CEO at MBRX. Here’s what he had to offer:
This potential was initially reported in a 2017 Japanese study (Journal of clinical and experimental hematopathology, Vol. 57 No.1, 21-25, 2017), but we have now been able to confirm this activity with our own sponsored research at MD Anderson. Also, very recent independent research (Front Pharmacol. 2018 May 22;9:536. doi: 10.3389/fphar.2018.00536. eCollection 2018.) has linked STAT3, HIF1-a and c-Myc (all targets of WP1066) to the mechanism (a ligand known as PD-L1) believed to be largely responsible for resistance to current checkpoint blockade therapies. We believe this could put WP1066 center-stage in the field of immunotherapy. It’s potentially a tremendous breakthrough for our company.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Moleculin Biotech, the news proved to be overwhelmingly positive. After all, this breakthrough data further supports the company’s work with regard to WP1066 and is an important step down the development path of the treatment. So, it’s not surprising to see that excited investors are pushing the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:17), MBRX is trading at $1.45 per share after a gain of $0.14 per share or 10.69% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on MBRX. In particular, we’re interested in following the continued development of WP1066 as the news today only strengthens the value of this asset. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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