Market Overview

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

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. 

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


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