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Dec 31, 2020
Moleculin Q4 2020 Earnings Report
Moleculin reported its financial results for the year ended December 31, 2020 and provided a business update.
Key Takeaways
Moleculin Biotech, Inc. reported a net loss of $17.4 million for the year ended December 31, 2020. The company's R&D expenses increased to $12.8 million, and G&A expenses rose to $6.8 million. The company believes that its cash resources as of December 31, 2020, along with the additional funding received subsequent to year-end, will be sufficient to meet its projected operating requirements through at least the year 2023.
Raised gross proceeds of approximately $81 million through registered equity offering and ATM program in 1Q21, providing runway into 2025 based on current R&D spending levels.
Received $1.5 million grant to fund a Phase 1b/2 clinical trial for Annamycin for the treatment of soft tissue sarcoma lung metastases in Europe.
Reported positive interim results in Emory University pediatric brain tumor Phase 1 clinical trial for WP1066.
Observed positive in vitro results demonstrating the antiviral activity of WP1096 and WP1097 against SARS-CoV-2, HIV, Zika, and Dengue Fever.
Forward Guidance
Moleculin anticipates several milestones in 2021, including the potential for 8 clinical trials and further development of their drug candidates.
Positive Outlook
- Establishing a recommended Phase 2 Dose for Annamycin in 2021.
- Timing of the commencement and progress of the clinical trials conducted by Moleculin and by third parties.
- The ability of Moleculin to find a collaborative partner to support a Phase 2 clinical study of WP1220 in CTCL in 2021.
- The ability to file for W1122 an IND application or its equivalent for either cancer-related or virus-related clinical trials in the first half of 2021.
Historical Earnings Impact
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