Moleculin Biotech Inc MBRX announced positive data Thursday from its Phase 1/2 study of annamycin in Poland.
Annamycin is an anthracycline antibiotic being investigated for the treatment of cancer. The company said intends to advance the clinical study of Annamycin to the next dose level.
“We remain optimistic that new methods for reducing the onset of mucositis (the dose limiting toxicity for Annamycin in prior clinical trials) will allow us to safely increase dosing to 180 mg/m2 or potentially even higher,” CEO Walter Klemp said in a statement.
One of the drug's advantages is a lack of cardiotoxicity, he said.
"We continue to see no evidence of cardiotoxicity in any of the patients treated thus far. We intend to advance the clinical study of Annamycin with the goal of ultimately demonstrating the drug's safety and effectiveness to support regulatory approval in both the U.S. and European Union."
Moleculin Biotech shares were trading higher by 1.63% to $1.25 at the time of publication Thursday.
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