Moleculin Biotech Stock Is Trading Higher After WP1066 Scores Rare Pediatric Disease Tag For Type Of Brain Tumor

The FDA has granted Rare Pediatric Disease Designation to Moleculin Biotech Inc's MBRX WP1066 to treat ependymoma.
Ependymoma is a rare type of tumor in the brain or spinal cord and most often occurs in young children.
The drug candidate currently received Orphan Drug Designation for WP1066 to treat brain tumors and Rare Pediatric tags for three other pediatric indications.
Rare Pediatric Disease designation provides for the issuance of a priority review voucher following FDA approval. The voucher can be used for accelerated approval of a future application or sold to a third party.
WP1066 is an immune/transcription modulator capable of directly inhibiting certain key oncogenic transcription factors, including the activated form of a protein known as STAT3.
The activated form of STAT3, referred to as p-STAT3, is considered a master regulator of tumor activity.
Price Action: MBRX shares are trading 6.96% higher at $3.87 on the last check Wednesday.