Moleculin appoints former Roche executive as strategic advisor

HOUSTON - Moleculin Biotech, Inc. (NASDAQ:MBRX) announced Thursday the appointment of Adriano Treve as a Strategic Advisor for partnerships. Treve brings over 40 years of experience from Roche, where he held various senior executive roles globally. According to InvestingPro data, the company maintains a strong cash position relative to debt, though it’s currently experiencing rapid cash burn - a critical factor for clinical-stage biotech companies.

The late-stage pharmaceutical company, which focuses on developing treatments for hard-to-treat cancers and viral infections, is currently advancing its Phase 2B/3 MIRACLE trial testing Annamycin (naxtarubicin) in combination with cytarabine for acute myeloid leukemia (AML). With a market capitalization of just $15.4 million and an overall "Weak" financial health score from InvestingPro, investors should note that analysts have set price targets ranging from $4 to $13 per share, suggesting significant potential upside if clinical trials succeed.

Treve’s most recent position at Roche was as Area Head for Turkey, Russia, Iran, Central Asia, the Caucasus, Eastern Europe, and the Indian Subcontinent, where he worked on expanding access to treatments in underserved markets.

"Adriano’s extensive experience will be invaluable as we look to secure partnerships that optimize the value of Annamycin," said Walter Klemp, Chairman and CEO of Moleculin.

The company expects to reach the first unblinding of data for 45 patients in the second half of 2025, with a second unblinding anticipated in the first half of 2026. Despite the stock’s recent volatility, showing a nearly 20% gain over the past week but a significant 86% decline over the past year, these upcoming catalysts could prove pivotal for the company’s valuation.

Annamycin currently has Fast Track Status and Orphan Drug Designation from the FDA for treating relapsed or refractory acute myeloid leukemia, as well as Orphan Drug Designation for soft tissue sarcoma treatment. The European Medicines Agency has also granted it Orphan Drug Designation.

Moleculin’s MIRACLE trial is a global approval trial with sites in the US, Europe, and the Middle East. The company stated in its press release that interest from potential strategic partners has increased as the timeline for Phase 3 data becomes clearer. Get access to over a dozen more key financial metrics and insights about MBRX through the comprehensive Pro Research Report, available exclusively on InvestingPro.

In other recent news, Moleculin Biotech, Inc. announced a $6.5 million at-the-market equity offering agreement with Roth Capital Partners. The company plans to use the proceeds for working capital and general corporate purposes. Additionally, Moleculin has priced a public offering expected to raise approximately $5.9 million, with the funds earmarked to advance its drug candidate Annamycin and other drug portfolios through clinical development. The U.S. Food and Drug Administration has also agreed to Moleculin’s pediatric study plan for Annamycin, allowing for a single pediatric approval study for children with relapsed or refractory acute myeloid leukemia. Furthermore, Moleculin has received approval from Georgia’s Regulation Agency for Medical and Pharmaceutical Activities for its pivotal AML treatment trial, expanding its global reach. The trial aims to test Annamycin in combination with cytarabine for relapsed or refractory acute myeloid leukemia. In another development, positive results have emerged from Moleculin’s Phase 1B/2 clinical trial of Annamycin for treating soft tissue sarcoma lung metastases, showing promising survival rates. Moleculin’s Annamycin has also been granted Fast Track Status and Orphan Drug Designation by the FDA for several conditions, enhancing its potential as a treatment option.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.