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MBRX

Moleculin Biotech

$1.30

-0.19 (-12.75%)

07:37
02/20/19
02/20
07:37
02/20/19
07:37

Moleculin Biotech enters sublicense agreement with WPD in Europe

Moleculin Biotech announced that it has entered into a sublicense agreement with WPD Pharmaceuticals, or WPD, located in Poland. The agreement provides WPD with exclusive rights, subject to current license agreements, to develop and market a range of Moleculin's technologies in certain European countries in exchange for contributing a minimum of $4M in development expenditures agreed upon by Moleculin during the term of the agreement plus an ongoing royalty on future revenues. The agreement is specifically geared to provide Moleculin with the benefit of European Union, or EU, grant funding, which is available to companies like WPD that are formed and present in EU countries. The company has previously entered into similar agreements with Dermin with some of its technologies in similar territories and Dermin has succeeded in obtaining grant funding in Poland benefiting the company's development objectives.

MBRX Moleculin Biotech
$1.30

-0.19 (-12.75%)

11/14/18
MAXM
11/14/18
INITIATION
Target $3
MAXM
Buy
Moleculin Biotech initiated with a Buy at Maxim
11/14/18
MAXM
11/14/18
INITIATION
Target $3
MAXM
Buy
Moleculin Biotech initiated with a Buy at Maxim
As reported earlier, Maxim analyst Jason McCarthy initiated Moleculin Biotech with a Buy rating and a price target of $3. The analyst cites the company's three differentiated cancer programs - STAT3 inhibition in brain tumors with WP1066, chemotherapy with Annamycin in leukemia patients, and the WP1122 targeting of cancer metabolism by slowing its progression through starving it of glucose. McCarthy is hopeful that Moleculin's ongoing and upcoming trials, followed by their data readouts, demonstrate proof-of-concept in these indications and generate catalysts for the stock's higher valuation.

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