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NetworkNewsBreaks – Moleculin Biotech, Inc. (NASDAQ: MBRX) Closes $9M Registered Direct Offering

Company: Moleculin Biotech, Inc. (MBRX)
Category: News

Clinical stage pharmaceutical company Moleculin Biotech (NASDAQ: MBRX) has closed its offering of 4.29 million registered shares of common stock at a purchase price of $2.10 per share. Concurrently in a private placement, for each share of common stock purchased by an investor, the investor will receive an unregistered warrant to purchase 0.5 of a share of common stock. The warrants are exercisable six months from the date of issuance at a price of $2.80 per share and will expire five years from the initial exercise date. Moleculin intends to use the gross proceeds from the offering, which total approximately $9 million, toward its planned clinical trials, preclinical programs, research and development activities and for general corporate purposes. ROTH Capital Partners acted as sole placement agent for the offering.

For more information, visit www.Moleculin.com.

About Moleculin Biotech, Inc.

Moleculin Biotech, Inc. is a clinical stage pharmaceutical company focused on the development of anti-cancer drug candidates, some of which are based on discoveries made at M.D. Anderson Cancer Center. Our clinical stage drugs are Annamycin, an anthracycline being studied for the treatment of relapsed or refractory acute myeloid leukemia, more commonly referred to as AML, and WP1066, a modulator of hard-to-target tumor cell signaling mechanisms intended to attack tumor activity directly while also recruiting the patient’s own immune system. The company is also engaged in preclinical development of additional drug candidates, including compounds targeting the metabolism of tumors.

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