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Moleculin Biotech bolstered by FDA decision on its brain tumor drug

The FDA agreed its Investigational New Drug (IND) application for a Phase I trial of drug WP1066
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The human brain..

Moleculin Biotech Inc (NASDAQ:MBRX) shares surged over 16% to US$2.12 as it announced key FDA news for its brain cancer drug.

Its physician-sponsored Investigational New Drug (IND) application for a Phase I trial of drug WP1066 in patients with recurrent malignant glioma and brain metastasis from melanoma has been allowed by the US Food and Drug Administration, it said.

"We are so pleased to now have a second drug enter the clinical stage," said Walter Klemp, chairman and chief executive of Moleculin.

"We believe WP1066 represents a new class of anticancer drugs able to fight tumors on two fronts by directly inhibiting cell signaling supporting tumor activity, and independently stimulating a natural immune response.

"This constitutes a new approach to treating brain tumors and tumor metastasis to the brain.

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