Market Overview

Moleculin Rallies On Patent Applications That Could Give Cancer Drug 20 Years of Protection

Share:
Moleculin Rallies On Patent Applications That Could Give Cancer Drug 20 Years of Protection

Moleculin Biotech Inc (NASDAQ: MBRX)'s stock was advancing Wednesday on heavy volume.

Moleculin, which focuses on drugs targeting highly resistant tumors, said it has filed new patents covering the production and reconstitution of annamycin, its investigational drug for relapsed or refractory acute myeloid leukemia.

Annamycin is is being evaluated in two Phase 1/2 trials. The investigation drug has an Orphan Drug Designation as well as Fast Track Designation from the FDA. 

The company said if the new patent applications are approved, they would create 20 years of protection for the asset.

"Since we have recently announced promising preclinical data showing the potential for Annamycin to become an important treatment for lung metastases, having this broad coverage should add considerable value to this asset," CEO Walter Klemp said in a statement. 

Moleculin shares were trading higher by 6.03% at $1.23 at the time of publication Wednesday. 

Related Links:

Why CorMedix Shares Are Rallying

Aclaris Shares Trade Higher On Patent Win For Facial Redness Drug

Posted-In: Biotech News Penny Stocks Markets Trading Ideas General Best of Benzinga

 

Related Articles (MBRX)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Can-Fite BioPharma Appeals Lawsuit Against Venture Capital Firm

Arthur J. Gallagher Acquires BluePeak Advisors