HOUSTON, Feb. 10, 2021 /PRNewswire/ -- Moleculin Biotech,
Inc., (Nasdaq: MBRX) ("Moleculin" or the "Company"), a clinical
stage pharmaceutical company with a broad portfolio of drug
candidates targeting highly resistant tumors and viruses, today
announced that the underwriters of its public offering announced
February 3, 2021 have exercised in
full their option to purchase an additional 2,141,052 shares of
common stock at the public offering price of $4.75 per share, less underwriting discount.
Combining last week's closing with the effect of the sale of shares
pursuant to the over-allotment option, which was completed today,
Moleculin sold a total of 16,414,736 shares of common stock in the
public offering for gross proceeds of approximately $78.0 million, before deducting underwriting
discount and offering expenses.
Oppenheimer & Co. Inc. acted as the sole book-running
manager for the offering and Roth Capital Partners, LLC acted as
the co-manager for the offering. Maxim Group LLC acted as financial
advisor to the Company.
The securities described above were offered by the Company
pursuant to a shelf registration statement on Form S-3 (No.
333-235686) originally filed December 23,
2019 with the Securities and Exchange Commission (SEC) and
declared effective by the SEC on April 9,
2020. A final prospectus supplement and the accompanying
prospectus relating to and describing the terms of the offering was
filed with the SEC and is available on the SEC's website at
http://www.sec.gov. Copies of the final prospectus supplement and
the accompanying prospectus may be obtained from Oppenheimer &
Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad
Street, 26th Floor, New York, New
York 10004, by telephone at (212) 667-8055, or by email at
EquityProspectus@opco.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Moleculin Biotech, Inc.
Moleculin Biotech, Inc. is a clinical stage pharmaceutical
company focused on the development of a broad portfolio of oncology
drug candidates for the treatment of highly resistant tumors and
viruses. The Company's clinical stage drugs are: Annamycin, a Next
Generation Anthracycline, designed to avoid multidrug resistance
mechanisms with little to no cardiotoxicity being studied for the
treatment of relapsed or refractory acute myeloid leukemia, more
commonly referred to as AML, WP1066, an Immune/Transcription
Modulator capable of inhibiting p-STAT3 and other oncogenic
transcription factors while also stimulating a natural immune
response, targeting brain tumors, pancreatic cancer and hematologic
malignancies, and WP1220, an analog to WP1066, for the topical
treatment of cutaneous T-cell lymphoma. Moleculin is also engaged
in preclinical development of additional drug candidates, including
other Immune/Transcription Modulators, as well as WP1122 and
related compounds capable of Metabolism/Glycosylation
Inhibition.
For more information about the Company, please visit
http://www.moleculin.com.
Forward-Looking Statements
Some of the statements in this release are forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, Section 21E of the Securities Exchange Act of 1934 and the
Private Securities Litigation Reform Act of 1995, which involve
risks and uncertainties. Although Moleculin Biotech believes that
the expectations reflected in such forward-looking statements are
reasonable as of the date made, expectations may prove to have been
materially different from the results expressed or implied by such
forward-looking statements as a result of various important
factors, including: market conditions that may affect the timing,
terms and conditions of the offering, our ability to satisfy the
conditions to closing of the offering and other matters affecting
our ability to consummate the offering on terms acceptable to us.
Moleculin Biotech has attempted to identify forward-looking
statements by terminology including ''believes,'' ''estimates,''
''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,''
''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,''
''approximately'' or other words that convey uncertainty of future
events or outcomes to identify these forward-looking statements.
These statements are only predictions and involve known and unknown
risks, uncertainties, and other factors, including those discussed
under Item 1A. "Risk Factors" in our most recently filed Form 10-K
filed with the Securities and Exchange Commission ("SEC") and
updated from time to time in our Form 10-Q filings and in our other
public filings with the SEC. Any forward-looking statements
contained in this release speak only as of its date. We undertake
no obligation to update any forward-looking statements contained in
this release to reflect events or circumstances occurring after its
date or to reflect the occurrence of unanticipated events.
Contacts
James Salierno
/ Carol Ruth
The Ruth Group
973-255-8361 / 917-859-0214
jsalierno@theruthgroup.com
cruth@theruthgroup.com
DC:82266802.1
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SOURCE Moleculin Biotech, Inc.