Moleculin Biotech, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 11, 2023 at 01:32 am IST
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Moleculin Biotech, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 5.98 million compared to USD 6.78 million a year ago. Basic loss per share from continuing operations was USD 3 compared to USD 3.6 a year ago.
For the six months, net loss was USD 13.89 million compared to USD 13.64 million a year ago. Basic loss per share from continuing operations was USD 7.2 compared to USD 7.2 a year ago.
Moleculin Biotech, Inc. is a clinical-stage pharmaceutical company. The Company has a pipeline of clinical programs for the treatment of tumors and viruses. It has three core technologies and six drug candidates, three of which have shown human activity in clinical trials. Its core technologies consist of Annamycin, WP1066 Portfolio and WP1122 Portfolio. Annamycin is designed to avoid multidrug resistance mechanisms and cardiotoxicity. Its WP1066, is an Immune/Transcription Modulator capable of inhibiting p-STAT3 and other oncogenic transcription factors while also stimulating a natural immune response, targeting brain tumors, pancreatic and other cancers, and WP1220, an analog to WP1066, for the topical treatment of cutaneous T-cell lymphoma. Its portfolio includes WP1193, and WP1220. Its WP1122 contains compounds including WP1096, and WP1097, which is designed to exploit the potential uses of inhibitors of glycolysis such as 2-deoxy-D-glucose (2-DG).