Moleculin Biotech raises $9.2 million in IPO

Houston-primarily based Moleculin Biotech Inc. closed its initial public offering Wednesday, elevating greater than $ 9.2 million on 1.5 million shares priced at $ 6 each and every, the higher end of its pricing range. the company had hoped to raise as much as $ 12 million, in line with its S-1 filing in March. Moleculin will start public trading Thursday on the Nasdaq under the symbol “MBRX.” the company says it intends to make use of the IPO proceeds for additional scientific trials of its leukemia-remedy drug, Annamycin. Bonwick Capital partners and network 1 financial Securities underwrote the offering.

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