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Jun 30
Moleculin Q2 2025 Earnings Report
Moleculin reported a Q2 2025 net loss of $7.6 million with no revenue, while advancing key oncology clinical trials.
Key Takeaways
Moleculin Biotech incurred a $7.6 million net loss in Q2 2025 as it continues investing in late-stage clinical trials, particularly for its Annamycin program. The company reported R&D expenses of $3.6 million and had $7.6 million in cash on hand, expected to support operations into Q4 2025.
Net loss for Q2 2025 was $7.6 million:contentReference[oaicite:0]{index=0}.
Operating expenses totaled $5.7 million, primarily driven by R&D and G&A costs:contentReference[oaicite:1]{index=1}.
Cash and cash equivalents stood at $7.6 million at quarter-end:contentReference[oaicite:2]{index=2}.
The MIRACLE trial continued progress with enrollment expansion across the US and EU:contentReference[oaicite:3]{index=3}.
Moleculin
Moleculin
Forward Guidance
Moleculin plans to expand its MIRACLE trial and achieve an initial unblinded efficacy data readout by the end of 2025.
Positive Outlook
- First MIRACLE data readout expected in Q4 2025
- Ongoing recruitment and site expansion in US and EU
- Positive FDA feedback on pediatric study plan
- Finalized Phase 1B/2 STS lung mets trial with promising results
- Orphan Drug and Fast Track designations support regulatory path
Challenges Ahead
- No revenue reported for the quarter
- Significant net loss and negative operating income
- Cash only supports operations into Q4 2025
- Dependence on external funding for future trial progression
- Warrant liability significantly increased to over $20 million