Stock Alert: Moleculin Biotech Surges 70%

(RTTNews) - Shares of Moleculin Biotech, Inc. (MBRX) are surging nearly 70% on Tuesday morning after the biotechnology company announced that a pre-clinical study of treatment for osteosarcoma lung metastases achieved 100% survival rate.

MBRX is currently trading at $7.92, up $3.22 or 68.51%, on the Nasdaq.

A preclinical study in animals demonstrated a potentially significant therapeutic benefit of Annamycin against metastatic osteosarcoma.

CT scans demonstrated that animals treated with Annamycin exhibited significant suppression of tumor growth and not a single death was observed in the treated animals, whereas significant tumor burden contributed to the rapid death of 90% of untreated animals.

While the study continues, as of day 130, the survival rate for animals treated with Annamycin was 100%, compared with only 10% for untreated animals.