Moleculin Biotech, Inc. Completes Initial Public Offering; MBRX Shares Set To Commence Trading On NASDAQ Capital Market June 2, 2016

Published: Jun 02, 2016

NEW YORK and HOUSTON -- June 1, 2016 – Moleculin Biotech, Inc., ("Moleculin" or the "Company"), today announced that it closed an initial public offering (“IPO” and or the “Offering”) of 1,540,026 common shares for gross proceeds of $9,240,156. The IPO was priced at $6.00 per share, the upper end of the previously-filed $5.00 to $6.00 pricing range. Moleculin’s common shares are scheduled to begin trading on Thursday, June 2, 2016, on the NASDAQ Capital Market under the symbol "MBRX.”

The Company plans to use the net proceeds of the offering to commence a further Phase II clinical trial for Annamycin, an anthracycline for the treatment of relapsed or refractory acute myeloid leukemia, more commonly referred to as AML. Other uses of the MBRX IPO funding include license maintenance and IP prosecution costs, research, and general working capital purposes.

Bonwick Capital Partners, LLC, acted as Lead Bookrunner and Lead Underwriter, and Network 1 Financial Securities, Inc. acted as Co-Underwriter for the Offering.

Moleculin’s registration statement relating to the Offering has been filed with, and declared effective by, the United States Securities and Exchange Commission (SEC). This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The Offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the Offering may be obtained by contacting Bonwick Capital Partners, LLC, 40 West 57th Street, 28th Floor, New York, New York 10019, Attention: Daniel McClory, Managing Director, Investment Banking or email dan.mcclory@bonwickcapital.com or by calling (949) 502-4408

Moleculin also announced today the launch of its investor website at www.moleculin.com. Investors may visit this website for information about the Company, its SEC filings, press releases and other information of interest to current and potential investors. The investor website is not a part of the IPO prospectus.

About Moleculin Biotech, Inc.

Moleculin Biotech, Inc. is a preclinical and clinical-stage pharmaceutical company focused on the development of anti-cancer drug candidates, many of which are based on discoveries made at M.D. Anderson Cancer Center. Our lead product candidate is Annamycin, a Phase II clinical stage anthracycline for the treatment of relapsed or refractory acute myeloid leukemia, more commonly referred to as AML. We also have two active pre-clinical small molecule portfolios, one of which is focused on the modulation of hard-to-target tumor cell signaling mechanisms and the recruitment of the patient’s own immune system. The other portfolio targets the metabolism of tumors.

For more information about the offering, please visit http://www.moleculin.com

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