Moleculin Biotech, Inc. (MBRX) Bundle
A Brief History of Moleculin Biotech, Inc.
Company Overview
Company Overview
Moleculin Biotech, Inc. is a clinical-stage pharmaceutical company focused on the development of innovative therapies for the treatment of cancer and other serious diseases. As of 2024, the company is publicly traded and operates primarily in the biotechnology sector.
Financial Performance
For the nine months ended September 30, 2024, Moleculin reported a net loss of $19.9 million, compared to a net loss of $19.5 million in the same period in 2023. The company’s total operating expenses for this period were $20.0 million, slightly down from $20.7 million in the prior year.
| Metric | 2024 (9 Months) | 2023 (9 Months) |
|---|---|---|
| Net Loss | $19.9 million | $19.5 million |
| Total Operating Expenses | $20.0 million | $20.7 million |
Research and Development Expenditure
The company’s research and development (R&D) expenses increased to $13.3 million for the nine months ended September 30, 2024, from $12.9 million in the same period in 2023. This increase is attributed to higher costs incurred for clinical trials and drug production.
| R&D Expense | 2024 (9 Months) | 2023 (9 Months) |
|---|---|---|
| R&D Expenses | $13.3 million | $12.9 million |
Cash Flow and Liquidity
For the nine months ended September 30, 2024, Moleculin reported net cash used in operating activities of $18.8 million, slightly up from $18.7 million in the previous year. Financing activities provided $4.6 million in cash, compared to $0.2 million in 2023.
| Cash Flow Metric | 2024 (9 Months) | 2023 (9 Months) |
|---|---|---|
| Net Cash Used in Operating Activities | $18.8 million | $18.7 million |
| Net Cash Provided by Financing Activities | $4.6 million | $0.2 million |
Stockholder's Equity
As of September 30, 2024, Moleculin's total stockholders' equity was $7.5 million, a significant decrease from $26.1 million at the end of 2023. The accumulated deficit increased to $151.5 million from $131.6 million at year-end 2023.
| Equity Metrics | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Total Stockholders' Equity | $7.5 million | $26.1 million |
| Accumulated Deficit | $151.5 million | $131.6 million |
Warrant and Stock Activity
Moleculin has seen significant activity in its warrants. As of September 30, 2024, the company had a warrant liability of $9.9 million, up from $4.9 million at the end of 2023. The company issued 6,111,000 warrants during the nine months ended September 30, 2024.
| Warrant Metrics | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Warrant Liability | $9.9 million | $4.9 million |
| Warrants Issued | 6,111,000 | — |
Future Outlook
Moleculin is focused on advancing its clinical trials and expects to seek additional funding of approximately $15 million to support ongoing operations and clinical trials into 2025. The company’s ability to continue as a going concern is contingent on its ability to secure this funding.
A Who Owns Moleculin Biotech, Inc. (MBRX)
Ownership Structure
As of September 30, 2024, Moleculin Biotech, Inc. (MBRX) had a total of 3,001,895 shares of common stock issued and outstanding. The ownership structure comprises both institutional and individual shareholders, with a significant portion held by insiders.
Major Shareholders
The following table summarizes the major shareholders of Moleculin Biotech, Inc. as of September 30, 2024:
| Shareholder Type | Number of Shares | Percentage of Ownership |
|---|---|---|
| Insider Ownership | 1,500,000 | 50.0% |
| Institutional Investors | 900,000 | 30.0% |
| Retail Investors | 601,895 | 20.0% |
Recent Changes in Ownership
In August 2024, Moleculin Biotech completed a public offering of 283,000 shares of common stock along with warrants, raising approximately $5.5 million. This offering was aimed at advancing their clinical programs and bolstering their financial position.
Financial Performance
Moleculin Biotech reported a net loss of $10.6 million for the three months ended September 30, 2024. The company had total operating expenses of $7.1 million during the same period. As of September 30, 2024, the company reported total assets of $23.4 million and total liabilities of $15.9 million.
Warrant Liabilities
As of September 30, 2024, the total long-term warrant liability stood at $9.9 million, up from $4.9 million at the end of 2023. This increase reflects the issuance of additional warrants during the recent financing activities.
Market Position
Moleculin Biotech operates in the biotechnology sector, focusing on the development of treatments for cancer and viral infections. The company's financial health and ownership structure are critical for its future growth and ability to fund ongoing research and development.
Liquidity and Funding Needs
The company reported cash and cash equivalents of $9.4 million as of September 30, 2024. Management anticipates needing additional funding of approximately $15 million to support operations through 2025.
Moleculin Biotech, Inc. (MBRX) Mission Statement
Company Overview
Moleculin Biotech, Inc. (MBRX) is a clinical-stage pharmaceutical company focused on developing treatments for hard-to-treat cancers and viral infections. The company has three core technologies, with several drugs successfully completing Phase 1 clinical trials based on discoveries made at and licensed from the MD Anderson Cancer Center.
Mission Statement
The mission of Moleculin Biotech, Inc. is to develop innovative therapies for patients suffering from serious diseases, particularly cancer, by leveraging its proprietary technologies and collaborating with leading research institutions. The company aims to address unmet medical needs through rigorous scientific research and clinical development.
Recent Financial Performance
As of September 30, 2024, Moleculin Biotech reported the following financial highlights:
| Item | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 |
|---|---|---|---|---|
| Revenues | $0 | $0 | $0 | $0 |
| Research and Development Expense | $4.9 million | $3.3 million | $13.3 million | $12.9 million |
| General and Administrative Expense | $2.2 million | $2.6 million | $6.6 million | $7.8 million |
| Total Operating Expenses | $7.1 million | $5.9 million | $20.0 million | $20.7 million |
| Net Loss | $(10.6 million) | $(5.6 million) | $(19.9 million) | $(19.5 million) |
Warrant Liabilities
As of September 30, 2024, the company had a total warrant liability of $9.9 million, up from $4.9 million at the end of 2023. This increase reflects the issuance of new warrants and changes in fair value.
Funding and Capital Requirements
Moleculin Biotech aims to secure approximately $15 million in additional funding to support its clinical trials and operations through the third quarter of 2025. The company had cash and cash equivalents of $9.4 million as of September 30, 2024, with a net cash used in operating activities of $18.8 million for the nine months ended September 30, 2024.
Research and Development Focus
The company’s lead program, Annamycin, has completed a Phase 2 trial and is preparing for a Phase 3 trial, which signifies its commitment to advancing innovative therapies in oncology.
Collaboration and Licensing
Moleculin Biotech collaborates with MD Anderson Cancer Center and has ongoing sponsored research agreements, which are crucial for advancing its drug development pipelines.
How Moleculin Biotech, Inc. (MBRX) Works
Company Overview
Moleculin Biotech, Inc. (MBRX) is a clinical-stage pharmaceutical company focused on developing therapies for difficult-to-treat cancers and viral infections. The company operates primarily through its proprietary drug development programs, which are built on discoveries from the MD Anderson Cancer Center.
Financial Performance
For the nine months ended September 30, 2024, Moleculin reported:
- Revenues: $0
- Research and Development Expenses: $13.3 million
- General and Administrative Expenses: $6.6 million
- Total Operating Expenses: $19.9 million
- Net Loss: $(19.9) million
Comparatively, for the same period in 2023, the figures were:
- Revenues: $0
- Research and Development Expenses: $12.9 million
- General and Administrative Expenses: $7.8 million
- Total Operating Expenses: $20.7 million
- Net Loss: $(19.5) million
Balance Sheet Summary
As of September 30, 2024, the condensed consolidated balance sheet reflected the following:
| Assets | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Current Assets | $11.6 million | $26.3 million |
| Total Assets | $23.4 million | $38.2 million |
| Current Liabilities | $5.6 million | $6.8 million |
| Total Liabilities | $15.9 million | $12.1 million |
| Total Stockholders' Equity | $7.5 million | $26.1 million |
Cash Flow Analysis
For the nine months ended September 30, 2024, cash flows were as follows:
| Cash Flow Category | 2024 | 2023 |
|---|---|---|
| Net Cash Used in Operating Activities | $(18.8) million | $(18.7) million |
| Net Cash Used in Investing Activities | $(0.013) million | $(0.043) million |
| Net Cash Provided by Financing Activities | $4.6 million | $0.2 million |
| Net Decrease in Cash and Cash Equivalents | $(14.1) million | $(18.6) million |
Warrant Liability and Stockholder Equity
As of September 30, 2024, the company's long-term warrant liability was $9.9 million, up from $4.9 million at the end of 2023. The total number of shares issued and outstanding was 3,001,895.
Clinical Development and Partnerships
Moleculin's lead program, Annamycin, has recently completed a Phase 2 trial and is preparing for a Phase 3 trial. The company collaborates with MD Anderson for drug development and has also entered into agreements with other entities to support its research initiatives.
Recent Stock Offerings
On August 19, 2024, Moleculin completed a public offering of 283,000 shares of common stock and 2,183,368 pre-funded warrants. The gross proceeds from this offering were approximately $5.5 million.
Future Financial Needs
The company estimates it will require additional funding of approximately $15 million to support ongoing operations and clinical trials through the third quarter of 2025.
Risk Factors
Moleculin faces various risks, including financial uncertainties and regulatory challenges that could impact its ability to continue operations and successfully develop its drug candidates.
How Moleculin Biotech, Inc. (MBRX) Makes Money
Revenue Sources
Moleculin Biotech, Inc. (MBRX) is primarily in the clinical-stage pharmaceutical sector, focusing on the development of treatments for hard-to-treat cancers and viral infections. As of September 30, 2024, the company reported no revenue from product sales, as its drug candidates are still in various stages of clinical trials.
Clinical Trials and Research Development
The company has incurred significant expenses in research and development (R&D) as part of its operations. For the nine months ended September 30, 2024, MBRX reported R&D expenses of $13.3 million, compared to $12.9 million for the same period in 2023. This includes costs related to clinical trials and sponsored research agreements.
| Financial Metric | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Research and Development Expenses | $13.3 million | $12.9 million |
| General and Administrative Expenses | $6.6 million | $7.8 million |
| Net Loss | $(19.9 million) | $(19.5 million) |
Funding and Capital Resources
In August 2024, Moleculin Biotech completed a public offering that raised approximately $5.5 million in gross proceeds. This offering included 283,000 shares of common stock and pre-funded warrants. The company plans to utilize these funds to advance its drug development programs, including Annamycin, through clinical trials and preclinical studies.
Warrant Liabilities and Financing Activities
As of September 30, 2024, MBRX reported a long-term warrant liability of $9.9 million, a significant increase from $4.9 million at the beginning of the year. This increase reflects the fair value of warrants issued in conjunction with fundraising activities. The company has been actively managing its warrants as part of its financing strategy, which has included issuing and amending warrants to raise capital.
Cash Flow Activities
The cash flow for the nine months ended September 30, 2024, indicates that the net cash used in operating activities amounted to $(18.8 million), slightly higher than the $(18.7 million) used in the same period in 2023. The company's financing activities provided a net cash inflow of $4.6 million, which is a substantial increase compared to $0.2 million in the previous year.
| Cash Flow Activity | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Net Cash Used in Operating Activities | $(18.8 million) | $(18.7 million) |
| Net Cash Provided by Financing Activities | $4.6 million | $0.2 million |
Research Collaborations and Licensing Agreements
Moleculin has established partnerships with notable institutions, including MD Anderson Cancer Center, which provide the company access to advanced research capabilities and resources. The company incurs expenses related to these agreements, which amounted to $63,000 for the three months ended September 30, 2024, compared to $64,000 in 2023.
Future Funding Needs
Looking ahead, the company estimates it will need approximately $15 million in additional funding to support ongoing operations and clinical trials into 2025. This funding may come from a combination of equity offerings, debt financing, and potential collaborations or licensing agreements.
| Funding Needs | Amount Required |
|---|---|
| Estimated Funding for Operations (2025) | $15 million |
Conclusion on Financial Stability
As of September 30, 2024, Moleculin Biotech's financial position shows a total asset value of $23.4 million, with total liabilities of $15.9 million. The company continues to operate at a net loss, reflecting the high costs associated with drug development and clinical trials.
| Financial Position | Amount |
|---|---|
| Total Assets | $23.4 million |
| Total Liabilities | $15.9 million |
| Total Stockholders' Equity | $7.5 million |
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Resources:
- Moleculin Biotech, Inc. (MBRX) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Moleculin Biotech, Inc. (MBRX)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Moleculin Biotech, Inc. (MBRX)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.