Moleculin Biotech (NASDAQ: MBRX) shares tumbled 20% at market open after the company priced an underwritten public offering of its securities. The offering is comprised of 3,710,000 units at a public offering price of $1.35 per unit. Moleculin anticipates gross proceeds of approximately $5 million. The offering is expected to close on or about February 14, 2017.
To view the full press release, visit: http://nnw.fm/oN1sN
About Moleculin Biotech, Inc.
Moleculin Biotech, Inc. is a preclinical 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. The company’s lead product candidate is Annamycin, a phase II clinical stage anthracycline for the treatment of relapsed or refractory acute myeloid leukemia, more commonly referred to as AML. The company also has two pre-clinical small molecule portfolios, one of which is focused on the modulation of hard-to-target tumor cell signaling mechanisms and the recruitment of the patient’s own immune system. The other portfolio targets the metabolism of tumors. For more information about Moleculin, please visit www.moleculin.com.
NetworkNewsBreak (NNB) provides a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, visit https://www.NetworkNewsWire.com.
Please see full disclaimers on the NetworkNewsWire website: http://nnw.fm/Disclaimer