The stock will trade on clinical news flow toward the 90-patient enrollment milestone in September 2026 and unblinded efficacy readout in Dec 2026-Feb 2027. The dilutive offering caps near-term upside; watch for further capital needs and any partnership or non-dilutive funding announcements.
Price Chart
Executive Summary
Moleculin Biotech reported Q2 2026 results with a net loss of -$1.40/share, beating the -$1.55 consensus, and highlighted positive interim MIRACLE trial data showing 3x complete remission rates vs control. However, the company remains pre-revenue, burned $7.6M in operating expenses, and recently completed a deeply dilutive $0.75/share offering that provides cash only into Q1 2027, tempering the clinical optimism.
Key Financial Metrics
Key Facts
- Q2 2026 net loss per share -$1.40 vs consensus -$1.55 (beat by 9.7%)
- Interim MIRACLE data: CR 43% and 36% in Annamycin arms vs 12% control; CRc 50% and 57% vs 29% control
- Cash and equivalents $7.3M at June 30, 2026; plus $9.3M raised post-quarter via dilutive offering at $0.75/share
- Cash runway expected into Q1 2027; additional financing required
- R&D expenses $5.5M (up 51% YoY) driven by MIRACLE trial costs
- No revenue reported; company is pre-commercial
Financial Impact
Positive clinical data provides potential upside catalyst, but the dilutive offering at 66% discount to prior close and short cash runway create significant downside risk. Net loss of $7.6M in Q2 vs $5.7M YoY.
Risk Factors
- Requires significant additional financing to complete MIRACLE trial and reach NDA submission
- Clinical trial risk: unblinded data may not confirm interim results
- Severe dilution from recent offering and potential future equity raises
- Pre-revenue stage with no approved products
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3345316 |
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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