Moleculin Biotech Inc (NASDAQ: MBRX) is making a run for the top in the market this morning, and for good reason. The company said that it has made a significant discovery in the breast cancer space, exciting investors and sending the stock for the top. Today, we’ll talk about:
- The significant discovery that was announced this morning;
- what we’re seeing from MBRX stock as a result; and
- what we’ll be watching for ahead.
MBRX Announces Significant Discovery
As mentioned above, Moleculin Biotech is having an incredibly strong start to the trading session this morning after announcing that it has made a significant discovery in breast cancer. The announcement came by way of press release early this morning.
In the release, MBRX said that its ongoing sponsored research at The University of Texas MD Anderson Cancer Center has resulted in a breakthrough. The research has demonstrated that Annamycin is able to significantly improve survival in an aggressive form of triple negative breast cancer metastasized to the lungs in animal models.
This is overwhelmingly positive news. After all, triple negative breast cancer metastasized to the lungs is a very serious condition that generally leads in mortality. Any treatment that has the ability to improve survival in animal models of this condition deserves further study.
In a statement, Walter Klemp, Chairman and CEO at MBRX, had the following to offer:
We know that Annamycin was previously shown to be significantly more potent than doxorubicin in both Lewis lung carcinoma in vivo and small cell lung cancer in vitro models.
Now we are seeing significant activity against triple negative breast cancer that has metastasized to the lungs. This particular animal model used in our testing is considered to represent a very aggressive form of cancer. We believe our success in increasing the survival rate in mice with this tumor model in combination with the previously observed high uptake of Annamycin by the lungs is a promising indication that supports additional clinical research in lung and metastatic lung cancers.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Moleculin Biotech, the news proved to be overwhelmingly positive.
After all, this breakthrough means that the company will likely move into human trials of the treatment in this very serious, yet hard to treat condition. This could lead to a new product with incredibly high value.
Considering this, it comes as no surprise that excited investors are pushing the stock on a run for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:45), MBRX is trading at $1.04 is trading at $0.13 per share or 13.94% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on MBRX. in particular, we’re interested in following the story surrounding the company’s continued work to develop various assets in its impressive pipeline. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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