Moleculin Biotech Inc (NASDAQ: MBRX) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced positive clinical data, exciting investors and sending the stock screaming for the top. Today, we’ll talk about:
- The positive data announced by MBRX;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
MBRX Announces Positive Data
As mentioned above, Moleculin Biotech is having an incredibly strong start to the trading session this morning after announcing positive clinical data. In a press release issued early this morning, MBRX announced that in preliminary animal studies, a second of its lead drugs, WP1732, has demonstrated enhanced activity when combined with checkpoint blockade antibodies in the treatment of pancreatic cancer.
In a statement, Walter Klemp, Chairman and CEO at MBRX, had the following to offer:
After our sponsored research demonstrated that WP1066 was able to enhance immune checkpoint activity in a pancreatic cancer animal model. We were optimistic that we could show similar potential results in our water soluble, WP1732 drug candidate. This is significant for several reasons. It shows that this is a consistent capability across our platform of STAT3 inhibitors and it further supports independent research suggesting that STAT3 may be a key to enabling checkpoint blockade activity in otherwise resistant tumors. Importantly, though, when you couple this with our recent findings that WP1732 accumulates disproportionately in the pancreas, we believe it points to WP1732 as a potentially pivotal new approach to treating pancreatic cancer. Expansion of the WP1732 and WP1066 in vivo studies is in progress.
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, the strong data means that the company is headed in the right direction with its WP1732 asset, adding value for investors. So, it’s not surprising that excited investors are pushing the stock on a run for the top in the market this morning. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:03), MBRX is trading at $1.18 per share after a gain of $0.06 per share or 5.36% 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 WP1732 as well as the rest of the company’s pipeline of product candidates. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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