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Sep 30, 2020
Moleculin Q3 2020 Earnings Report
Reported financial results for the quarter ended September 30, 2020.
Key Takeaways
Moleculin Biotech reported a net loss of $3.4 million for the third quarter of 2020, compared to a net loss of $4.1 million for the third quarter of 2019. The increase in R&D expense was largely due to increased clinical trial activity, increased license fees and costs related to sponsored research agreements, costs related to manufacturing of additional drug product and two additional employees in R&D headcount.
Advanced Annamycin development in AML and lung indications.
Progressed clinical trials for WP1066.
Expanded and accelerated infectious disease platform.
Bolstered experienced leadership team.
Moleculin
Moleculin
Forward Guidance
Moleculin believes they are well-positioned to progress their three core technologies and that existing cash and cash equivalents plus the $2.6 million cash raised and committed subsequent to the quarter will be sufficient to fund planned operations into the third quarter of 2021, without the issuance of additional equity for cash.
Positive Outlook
- IND submission for Annamycin for the treatment of tumor metastases to the lung
- Expanding infectious disease portfolio via preclinical testing of WP1122 in preparation for submitting an IND for a COVID-19 clinical trial in the first half of 2021
- Continued clinical testing in adult and pediatric brain tumors with WP1066 via physician sponsored trials
- Progressing Annamycin development with positive data and regulatory interactions.
- Advancing WP1066 clinical trials with promising results in GBM and DIPG.
Challenges Ahead
- Plans are subject to stock price and market conditions.
- Changes in planned expenses depend on clinical enrollment progress.
- Plans are subject to the use of drug product.
- Potential delays in clinical trial progress.
- Dependence on collaborations and externally funded pathways for infectious disease pipeline.