Moleculin Biotech, Inc. (MBRX) announced today that it has been granted Rare Pediatric Disease Designation (RPD) for WP1066 to treat ependymoma after which the MBRX stock price saw an uptrend of 7.18% to reach $4.16 a share at the time of this writing. MBRX stock was also green in the previous trading session and went up by 0.56% at closing. Let’s understand more about MBRX stock.
Rare Pediatric Disease Designation:
Moleculin Biotech, Inc is a clinical-stage company working on the development of oncology drugs in order to treat patients suffering from highly resistant tumors and viruses in the U.S.Investors are responding to the news announced by the MBRX stock today related to its p-STAT3 inhibitor, WP1066 which is used to treat ependymoma. Ependymoma is a rare tumor that usually forms in the brain and spinal cord and occurs at any age but usually occurs in young children.
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Moleculin stock would be able to receive the voucher in connection with the FDA approval of WP1066 which then may be redeemed to receive the priority review for a subsequent marketing application for other product candidates. The MBRX stock can also sell or transfer that voucher.
Management thinks that the Rare Pediatric Disease Designation grant by FDA for WP1066 is the major milestone. Management is looking forward to the expansion and development of WP1066 in the future and firmly believes that the WP1066 has the great potential to treat pediatric patients suffering from ependymoma.
Rare Pediatric Disease
Rare Pediatric Disease a serious life-threatening disease that usually targets individuals aged from birth to 18 years. Nearly 200,000 people are affected by this disease in the United States of America.
Previous News of MBRX stock:
On April 6, 2021, Moleculin stock did announce the engagement of IQVIA Biotech in order to manage the potential clinical trials of WP1122 by the MBRX stock to treat COVID-19. The purpose of this engagement is to check the potential of WP1122 against the deadly pandemic.
So far so good for MBRX as far as market sentiment is concerned. It seems that momentum was already building for MBRX stock and recent news has added more hype to the rising stock price of Moleculin stock. Recent developments point to the growth of MBRX stock but a deep fundamental, as well as technical analysis, is recommended for this stock.