The June 2026 unblinding of MIRACLE trial data is the critical near-term catalyst. Positive results could validate Annamycin's efficacy and significantly de-risk the program, but the company will need additional financing soon given the cash runway. Monitor for any pre-release leaks or analyst notes. A binary event with asymmetric upside if data is positive.
Price Chart
Executive Summary
Moleculin reported Q1 2026 results with no revenue, a net loss of $(14.6M) or $(3.54) per share, and $10.3M cash (into Q3 2026). Key news is the completion of 45-subject enrollment in the pivotal MIRACLE trial, with blinded 40% CRc rate reaffirmed and first interim unblinding expected in June 2026.
Key Financial Metrics
Key Facts
- MIRACLE trial enrollment of first 45 subjects completed; interim unblinding expected June 2026
- Blinded composite complete remission (CRc) rate remains 40% at both 30- and 45-subject marks
- Q1 2026 net loss available to common stockholders of $14.6M ($3.54 per share), vs $5.9M ($15.80 per share) in Q1 2025
- Cash and cash equivalents $10.3M as of March 31, 2026, expected to fund operations into Q3 2026
- R&D expenses increased to $5.4M from $3.4M, driven by MIRACLE trial costs
Financial Impact
Operating loss widened to $7.9M in Q1 2026 vs $5.9M in Q1 2025; no revenue. Cash burn rate ~$2.6M/month. Stock price movement likely driven by clinical catalyst rather than financials.
Risk Factors
- MIRACLE trial unblinding could show negative or inconclusive efficacy
- Cash runway only into Q3 2026; dilutive financing likely needed
- Pre-revenue company with no approved products; regulatory approval uncertain
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001437749-26-017226 |
| Document: mbrx20260514_8k.htm | 0001437749-26-017226 |
| Document: 0001437749-26-017226-index-headers.html | 0001437749-26-017226 |
| Document: 0001437749-26-017226-index.html | 0001437749-26-017226 |
| Document: 0001437749-26-017226.txt | 0001437749-26-017226 |
| 8-K Data (Synthetic) | 0001437749-26-017226 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | 8-K | $6.19 | awaiting T+20 | — | $7.09 (+14.46%) |
Oct 16, 2026 10d ago | 8-K | $0.2804 | awaiting T+20 | — | $7.09 (+2426.75%) |
Oct 9, 2026 16d ago | 8-K | $0.4139 | awaiting T+20 | — | $7.09 (+1611.77%) |
Oct 5, 2026 21d ago | 8-K | $0.4766 | awaiting T+20 | — | $7.09 (+1386.57%) |
Sep 29, 2026 27d ago | 8-K | $0.5264 | awaiting T+20 | — | $7.09 (+1245.93%) |
Sep 29, 2026 27d ago | Press Release | $0.5264 | awaiting T+20 | — | $7.09 (+1245.93%) |
Sep 28, 2026 28d ago | 8-K | $0.5690 | awaiting T+20 | — | $7.09 (+1145.17%) |
Sep 25, 2026 4w ago | 8-K | $0.6016 $6.50 | ▲ +980.45% | ▲ +981.93% | $7.09 (+1077.69%) |
Sep 23, 2026 4w ago | 8-K | $0.5279 $6.31 | ▲ +1095.30% | ▲ +1094.61% | $7.09 (+1242.11%) |
Sep 18, 2026 5w ago | 8-K | $0.5202 | awaiting T+20 | — | $7.09 (−1261.98%) |
US Market Status
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