Moleculin (MBRX) Posts Update From Lung Cancer Study, Stock Up
Moleculin Biotech, Inc. MBRX, a clinical-stage company, announced completing enrollment in the phase II portion of the company’s early-to-mid-stage clinical program for its lead candidate, Annamycin. The phase IB/II MB107 study is evaluating Annamycin to treat soft tissue sarcoma (STS) lung metastases in the United States.
Moleculin’s Annamycin is a next-gen anthracycline that has been demonstrated to be effective, lacking cardiotoxicity in several early-stage clinical studies. The company is currently developing Annamycin for the treatment of acute myeloid leukemia (AML) and STS lung metastases, with the potential to treat additional indications.
MBRX expects to share top-line results from the phase II portion of the MB107 study in the fourth quarter of 2023.
The stock of the company soared about 10% on Thursday in response to the encouraging news. Year to date, shares of Moleculin have plunged 60.4% compared with the industry’s 14.8% fall.
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The phase II portion of the study is evaluating the efficacy of Annamycin as a single agent for the treatment of subjects with STS with lung metastases for which chemotherapy is considered appropriate.
Per Moleculin, patients treated with Annamycin, demonstrating stable disease at the time of study discontinuation, will continue to be followed for progression-free response and overall survival.
Currently, data available from the MB107 study is not sufficient as many of the patients enrolled in the trial have not yet completed all scheduled follow-up examinations.
However, based on the study data demonstrated to date, management believes that the median progression-free response is greater than 60%, despite subjects in the study having received multiple chemotherapy regimens.
At present, Annamycin enjoys both Fast Track Status and Orphan Drug Designation from the FDA in the United States for the treatment of soft tissue sarcoma. The drug also enjoys the Orphan Drug Designation in the relapsed or refractory AML indication.
Moleculin is simultaneously evaluating Annamycin in combination with Cytarabine, in another phase IB/II MB106 study for the treatment of subjects with AML as both first-line therapy and for subjects who are refractory to or relapsed after induction therapy.
Moleculin Biotech, Inc. Price and Consensus
Moleculin Biotech, Inc. price-consensus-chart | Moleculin Biotech, Inc. Quote
Zacks Rank and Stocks to Consider
Moleculin currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the overall medical sector, worth mentioning, are Dynavax Technologies DVAX, Corcept Therapeutics CORT and Better Therapeutics BTTX, each carrying a Zacks Rank #2 (Buy) at present.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 30 days, the Zacks Consensus Estimate for Dynavax’s 2023 loss per share has narrowed from 24 cents to 23 cents. The estimate for Dynavax’s 2024 earnings per share is currently pegged at 3 cents. Year to date, shares of DVAX have risen by 29%.
DVAX’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 25.78%.
In the past 30 days, the Zacks Consensus Estimate for Corcept’s 2023 earnings per share has remained constant at 78 cents. The estimate for Corcept’s 2024 earnings per share has also remained constant at 83 cents. Year to date, shares of CORT have climbed 57.3%.
CORT’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 6.99%.
In the past 30 days, the Zacks Consensus Estimate for Better Therapeutics’ 2023 loss per share has remained constant at 98 cents. During the same period, Better Therapeutics’ 2024 loss per share has also remained constant at 80 cents. Year to date, shares of BTTX have lost 68.3%.
BTTX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 24.22%.
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