Moleculin Biotech Inc (NASDAQ: MBRX) is having a great start to the trading session in the pre-market hours this morning after releasing new data. The data supports the potential approval of the company’s lead STAT3 drug candidate. Of course, the news excited investors, sending the stock screaming for the top. Today, we’ll talk about:
- The data;
- what we’re seeing from MBRX as a result; and
- what we’ll be watching for with regard to the stock ahead.
MBRX Is Flying On Clinical Data
As mentioned above, Moleculin Biotech is having a great day in the market today after the company announced new clinical data. In a press release issued early this morning, the company announced data from an independent test in animal models.
The data confirmed that the company’s immuno-stimulating STAT3 inhibitor achieves disproportionately high accumulation in the pancreas. This is overwhelmingly positive news for MBRX as it means that the treatment might be an ideal candidate for treating pancreatic cancer. In a statement, Dr. Donald Picker, Chief Science Officer at the company, had the following to offer:
Our own sponsored research suggested that WP1732 might be an ideal candidate for treating pancreatic cancer… Now, we have independent testing with radiolabeled drug confirming this in animal models. The propensity for such enhanced pancreatic distribution could be highly beneficial for a new pancreatic cancer drug.
The above statement was followed up by Walter Klemp, Chairman and CEO at MBRX. Here’s what he had to offer:
Published research shows that the growth and survival of pancreatic cancer requires activated STAT3 (p-STAT3) and our own research suggests that WP1732 may be one of the most effective inhibitors of p-STAT3 that has demonstrated activity in in vivo models. Confirming the disproportionately high accumumulation of WP1732 in the pancreas puts us one step closer to introducing an entirely new approach to treating pancreatic cancer. This is very encouraging and confirms the direction that Moleculin has taken with WP1732. We are heavily engaged in preparing the data necessary for an Investigational New Drug (IND) application with the FDA which we are targeted to file in 2019.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In the case of Moleculin Biotech, the news proved to be overwhelmingly positive. After all, the data support the company’s candidate as a potential treatment for pancreatic cancer. 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 (9:01), MBRX is trading at $1.52 per share after a gain of $0.14 per share or 10.14% 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 story surrounding the company’s continued work to assess WP1732 as an option for patients with pancreatic cancer. We’re also watching Annamycin very closely as the treatment is showing some seriously promising results. Nonetheless, we’ll continue to keep a close eye on the news and bring it to you as it breaks!
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