Core Viewpoint - Moleculin Biotech, Inc. has announced agreements for the immediate exercise of existing warrants, allowing the purchase of up to 5,828,570 shares at a reduced price of 5.8 million in gross proceeds [1][3] Group 1: Financial Transactions - The company will issue new unregistered warrants for the immediate exercise of existing warrants, allowing the purchase of up to 11,657,140 shares at an exercise price of $0.75 per share, with a term of five years [2] - The transaction is expected to close on or about February 14, 2025, pending customary closing conditions [3] Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for working capital and general corporate purposes [3] Group 3: Company Overview - Moleculin Biotech, Inc. is a Phase 3 clinical stage pharmaceutical company focused on developing therapeutic candidates for hard-to-treat tumors and viruses [6] - The lead program, Annamycin, is designed to avoid multidrug resistance and cardiotoxicity, currently in development for relapsed or refractory acute myeloid leukemia (AML) and soft tissue sarcoma (STS) lung metastases [6][7] - The company is initiating the MIRACLE Trial (MB-108) to evaluate Annamycin in combination with cytarabine for treating relapsed or refractory AML [7] Group 4: Additional Developments - Moleculin is also developing WP1066, an immune/transcription modulator targeting brain tumors and other cancers, and a portfolio of antimetabolites including WP1122 for potential treatment of pathogenic viruses and certain cancer indications [8]
Moleculin Announces Exercise of Warrants for $5.8 Million Gross Proceeds