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Moleculin BiotechCompletes IPO; MBRX Shares Set to Commence Trading on NASDAQ Capital Market June 2, 2016; the company will use the net proceeds of the offering to commence a further Phase II of Annamycin in treating AML

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Additional Relevant Details Moleculin Biotech, Inc., (“Moleculin” or the “Company”), today announced that it closed an initial public offering (“IPO” and or the “Offering”) of 1,540,026 common shares for gross proceeds of $9,240,156. The IPO was priced at $6.00 per share, the upper end of the previously-filed $5.00 to $6.00 pricing range. Moleculin’s common shares are scheduled to begin trading on Thursday, June 2, 2016, on the NASDAQ Capital Market under the symbol “MBRX.”

The Company plans to use the net proceeds of the offering to commence a further Phase II clinical trial for Annamycin, an anthracycline for the treatment of relapsed or refractory acute myeloid leukemia, more commonly referred to as AML. Other uses of the MBRX IPO funding include license maintenance and IP prosecution costs, research, and general working capital purposes.
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Occurred on:
Jun 02, 2016
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Related Keywords Annamycin, Phase 2, Anthracycline, Acute Myeloid Leukemia, Aml