Read Why Is Roth Capital Bullish On This Cancer-Focused Stock

Read Why Is Roth Capital Bullish On This Cancer-Focused Stock
  • Roth Capital notes that the FDA cleared Moleculin Biotech Inc's MBRX WP1122 to start a Phase 1 trial in glioblastoma multiforme, which will be in addition to the drug's impending parallel clinical development in COVID-19. 
  • Analyst Jonathan Aschoff expects several clinical data updates over the next year, with Moleculin Biotech potentially having six ongoing trials by year-end 2021. 
  • Moleculin Biotech is "substantially undervalued," Aschoff contends with a lower market value than the cash valuation. 
  • The analyst believes that the risk/reward is "highly favorable" given the numerous near-term clinical readouts. 
  • Aschoff has a Buy rating and a price target of $29 on the shares.
  • Earlier today, FDA signed off Moleculin Biotech's Investigational New Drug (IND) application to study WP1122 for Glioblastoma Multiforme (GBM), the most aggressive malignant primary brain tumor.
  • Moleculin plans to initiate a Phase 1 open-label, single-arm, dose-escalation study of the safety, pharmacokinetics, and efficacy of oral WP1122.
  • Price Action: MBRX shares are down 0.48% at $2.06 during the market session on the last check Wednesday.

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