LONDON, UK / ACCESSWIRE / June 28, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Moleculin Biotech, Inc. (NASDAQ: MBRX), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=MBRX. The Company announced on June 26, 2017, that it has entered into an agreement with a physician at the Mayo Clinic to enable additional research on Moleculin's WP1066 molecule for the possible treatment of a rare form of pediatric brain tumor. Moleculin is basically a preclinical pharmaceutical Company which excels in the development of anti-cancer drug candidates, where some of them are on behalf of the M.D. Anderson Cancer Center. For immediate access to our complimentary reports, including today's coverage, register for free now at: http://protraderdaily.com/register/.
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According to the Company, Mayo Clinic physicians and scientists have requested Moleculin to supply them with WP1066 for preclinical testing for the potential treatment of Pediatric Diffuse Intrinsic Pontine Gliomas (DIPG), a rare and very aggressive form of brain tumor. According to the Company's studies, the DIPG may be particularly sensitive to the inhibition of the activated form of a cell-signaling protein called STAT3. The primary target for WP1066 is the cell-signaling protein, called STAT3, where the preliminary studies have demonstrated significant anti-tumor activity of WP1066 in DIPG in-vitro and in-vivo tumor models.
According to multiple Independent research reports, WP1066 is now capable of tumor suppression in xenografts of human brain tumors transplanted into mice. Moleculin stated that it focuses on WP1066, as a potential treatment for DIPG, along with the physician efforts of multiple researchers at the M.D. Anderson Cancer Center, to secure an IND to study and validate the potential importance of WP1066 in the treatment of complicated tumors.
Moleculin is a preclinical stage pharmaceutical Company aimed at the development of anti-cancer drug candidates, where some of them are derived from M.D. Anderson Cancer Center. The Company's lead product candidate is Annamycin, an anthracycline being studied for the treatment of relapsed or refractory acute myeloid leukemia (AML). The Company additionally holds two preclinical small molecules under its portfolio, where one of them is focused on the modulation of hard-to-target tumor cell signaling mechanisms and the activation of the patient's own immune system. On the other hand, the other small molecule portfolio member targets the metabolism of the tumor and prevents its further growth.
On June 15, 2017, the Company announced that it has asked its contract research organization (CRO), Theradex Systems, Inc., to expand its engagement with clinical sites in Poland for the planned Phase-I/II clinical trial of Annamycin for the treatment of relapsed or refractory acute myeloid leukemia. Moleculin stated that in Poland, patients with AML have less access to clinical trials than those in the US. Through this approach, the Company plans to make it easier to recruit an anthracycline being studied for the treatment of relapsed or refractory acute myeloid leukemia. Moleculin will expand its partnership and engagement with Theradex, and ensure tight coordination of clinical activity between the US and Poland.
Last Close Stock Review
On Tuesday, June 27, 2017, the stock closed the trading session at $1.98, surging 30.26% from its previous closing price of $1.52. A total volume of 25.26 million shares have exchanged hands, which was higher than the 3-month average volume of 664.62 thousand shares. Moleculin Biotech's stock price skyrocketed 141.46% in the last one month, 76.79% in the past three months, and 1.02% in the previous six months. The stock currently has a market cap of $36.27 million.
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