MBRX - Moleculin shares soar after promising Annamycin pre-clinical readout

Clinical stage pharma company Moleculin Biotech (MBRX) shares skyrocketed in premarket trading after it announced that a preclinical study in animals showed a potentially significant therapeutic benefit of its Annamycin treatment against metastatic osteosarcoma.Scans showed that animals treated with Annamycin showed significant suppression of tumor growth and no deaths were observed, whereas significant tumor burden and death of 90% was seen in untreated animals.FDA allowed Moleculin's request for investigational new drug status in order to study Annamycin for the treatment of soft tissue sarcoma metastasized to the lungs, the company had said in December last year.Moleculin shares were trading up ~80% in premarket trading.

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Moleculin shares soar after promising Annamycin pre-clinical readout