Moleculin: New IND Enables Parallel Development Of WP1122 As Cancer Therapy

(RTTNews) - Moleculin Biotech, Inc. (MBRX) said the FDA is allowing its Investigational New Drug application to study WP1122 for the treatment of Glioblastoma Multiforme to go forward. The company plans to begin a phase 1 open label, single arm, dose escalation study of the safety, pharmacokinetics and efficacy of oral WP1122 in adult patients with GBM.

"This IND underscores our dual pronged approach to the development of WP1122 for the treatment of both certain types of cancers and viruses. In addition to the trial in the UK designed to position WP1122 as an antiviral therapy, we can now be advancing the cancer therapy path in parallel," said Walter Klemp, CEO of Moleculin.

Shares of Moleculin Biotech were up 6% in pre-market trade on Wednesday.