Moleculin Biotech's Stock Is Trading Higher On Accelerated Review Tag For Annamycin In Connective Tissue Cancer

The FDA has approved Moleculin Biotech Inc's MBRX request for Fast Track Designation for its drug, Annamycin, to treat soft tissue sarcoma (STS) lung metastases.
The designation marks the second Fast Track status from the FDA for Annamycin.
The company is focused on initiating an internally funded clinical trial in the U.S., possibly before mid-year.
It recently announced a $1.5 million grant awarded in Poland for an investigator-initiated clinical trial there for this indication which should start later this year.
Price Action: MBRX shares are up 20.5% at $4.46 in premarket trading on the last check Tuesday.