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Moleculin Biotech Inc. (MBRX+2.55%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The company is conducting a pivotal Phase 3 trial evaluating Annamycin, a non-cardiotoxic anthracycline, in combination with Cytarabine for the treatment of relapsed/refractory acute myeloid leukemia (AML). This trial, known as the MIRACLE trial, is expected to have interim unblinding of data by the end of 2025.
Moleculin Biotech is also developing two other portfolios of technologies for hard-to-treat cancers and viruses, with research funded by investigators at academic institutions.
The company reported a net loss of $21.8 million for the year ended December 31, 2024, compared to a net loss of $29.8 million in the previous year. The decrease in net loss was primarily due to a gain of $6.1 million from the change in fair value of warrant liability.
Research and development expenses were $17.7 million, down from $19.5 million in 2023, mainly due to a $1.5 million sublicense termination in 2023.
General and administrative expenses decreased to $8.8 million from $10.0 million in 2023, attributed to reduced regulatory, legal services, and consulting fees.
The company has cash and cash equivalents of $4.3 million as of December 31, 2024, and believes its cash resources, along with proceeds from recent stock offerings, will fund operations into the third quarter of 2025.
Moleculin Biotech plans to seek additional funding through equity offerings, debt financings, and other strategic arrangements to continue its operations and development activities.
The company acknowledges risks related to regulatory approval, competition, and financial resources, which could impact its ability to achieve profitability and commercial success.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Moleculin Biotech Inc. annual 10-K report dated March 21, 2025. To report an error, please email earnings@qz.com.