Moleculin Biotech soars as FDA approves cancer drug trial

Moleculin Biotech

13/02/2025 18:40

** Shares of drug developer Moleculin Biotech  MBRX.O  rise
488% to $2.44; set to record their largest single-day percentage
gain
    ** MBRX says U.S. FDA has approved company's plan for a
late-stage trial to test its drug, annamycin, a potential
treatment for acute myeloid leukemia, a type of blood and bone
marrow cancer
    ** Says FDA recommended a reduction in the size of the trial
by about 10% due to an alteration in the statistical plan
    ** Annamycin received "fast track" and "orphan drug"
designation from the FDA
    ** MBRX fell 87.7% in 2024

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com))