HOUSTON - Moleculin Biotech, Inc. (NASDAQ:MBRX), a clinical stage pharmaceutical company, has announced the upcoming issuance of a U.S. patent for its novel drug delivery technology for Annamycin, a treatment candidate for acute myeloid leukemia (AML) and soft tissue sarcoma lung metastases (STS lung mets).
he United States Patent and Trademark Office (USPTO) has issued an Issue Notification for the patent, which is set to be granted on May 14, 2024.
The patent, numbered 11,980,634, covers the "Method of Reconstituting Liposomal Annamycin" and is expected to protect the composition of the liposomal Annamycin suspension through June 2040, with the possibility of an extension. This patent is part of Moleculin's strategy to establish a robust portfolio of intellectual property rights surrounding Annamycin, which is designed to be a non-cardiotoxic alternative to current anthracyclines used in cancer treatment.
Annamycin has undergone multiple studies in the U.S. and Europe, treating 82 subjects to date. Preliminary results from a European clinical study suggest a 60% composite complete response rate in second-line subjects with AML, with ongoing recruitment for first and third-line subjects. One patient has reportedly achieved a durable complete response lasting over a year.
Walter Klemp, CEO and Chairman of Moleculin, expressed optimism about the patent's role in supporting potential future partnerships and the drug's ability to meet unmet medical needs in oncology. The company is also developing other drug candidates targeting difficult-to-treat tumors and viruses.
The information provided in this article is based on a press release statement from Moleculin Biotech, Inc.
InvestingPro Insights
As Moleculin Biotech, Inc. (NASDAQ:MBRX) gears up for a significant patent issuance that may bolster its intellectual property portfolio and potential future partnerships, the company's financial metrics and stock performance offer a fuller picture of its current market position. With an adjusted market capitalization of approximately $10.47 million, Moleculin's valuation reflects the challenges typical of clinical stage pharmaceutical companies.
InvestingPro Data indicates that the company's stock has experienced substantial volatility, with a price total return of -39.35% over the last three months and -60.03% over the last year. These figures underscore the high-risk nature of investing in biotech firms before they have profitable products on the market. Additionally, Moleculin's operating income stands at a loss of $29.63 million for the last twelve months as of Q4 2023, further highlighting the company's current focus on development over profitability.
InvestingPro Tips suggest that while Moleculin holds more cash than debt, which is a positive sign for its financial health, the company is quickly burning through cash and has not been profitable over the last twelve months. Moreover, analysts do not anticipate the company will be profitable this year, which is an essential consideration for investors looking at the long-term potential of Moleculin's Annamycin and other drug candidates.
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