The following is a summary of the Moleculin Biotech, Inc. (MBRX) Q1 2024 Earnings Call Transcript:
Financial Performance:
The company reported a decrease in Research & Development (R&D) expenses from $5.7 million to $4.3 million for Q1 2024.
General & Administrative (G&A) expenses also decreased from $2.6 million in the same period last year to $2.4 million for this quarter.
Moleculin Biotech had roughly $17 million in cash on hand for the quarter.
The market cap of Moleculin Biotech Inc. is estimated to be roughly $13 million.
Business Progress:
The firm obtained patent protection for Annamycin, providing market exclusivity until 2040.
Clinical trials show Annamycin had a 60% CRC rate in second-line patients with zero reported cardiotoxicity.
Recruitment efforts continue for the ongoing MB-106 trial, prioritizing first-line patients.
Pivotal trials for the drug are projected to commence by the end of 2024, contingent on FDA approval.
The company suspended enrollment for second-line therapy in the 106 trial, as they've collected sufficient data for second-line pivotal trials.
An end-of-phase 2 meeting with the FDA is expected by the end of June.
An update is anticipated on the progress of the MB-106 trial in August.
More details: Moleculin Biotech IR
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