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Moleculin Announces Reverse Stock Split
Source: PR Newswire (US)
HOUSTON, Jan. 29, 2021 /PRNewswire/ -- Moleculin Biotech, Inc., (Nasdaq: MBRX) (Moleculin or the Company), a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting highly resistant tumors and viruses, today announced that it filed a certificate of amendment to its certificate of incorporation with the Secretary of State of the State of Delaware to effect a 1-for-6 reverse stock split of its common stock. The reverse stock split will take effect at 5:00 pm (Eastern Time) on January 29, 2021, and the Company's common stock will open for trading on The Nasdaq Capital Market on February 1, 2021 on a post-split basis, under the existing ticker symbol "MBRX" but with a new CUSIP number 60855D200.
Moleculin Biotech, Inc. is a clinical stage pharmaceutical company focused on the development of a broad portfolio of oncology drug candidates for the treatment of highly resistant tumors. (PRNewsfoto/Moleculin Biotech, Inc.)
As a result of the reverse stock split, every six shares of the Company's common stock issued and outstanding prior to the opening of trading on February 1, 2021 will be consolidated into one issued and outstanding share, with no change in the nominal par value per share of $0.001. No fractional shares will be issued as a result of the reverse stock split. Stockholders of record who would otherwise be entitled to receive a fractional share will be entitled to the rounding up of the fractional share to the nearest whole number.
As a result of the reverse stock split, the number of shares of common stock outstanding will be reduced from approximately 72.0 million shares to approximately 12.0 million shares, and the number of authorized shares of common stock will remain at 100 million shares. As a result of the reverse stock split, proportionate adjustments will be made to the per share exercise price and/or the number of shares issuable upon the exercise or vesting of all outstanding stock options, restricted stock unit awards and warrants, which will result in a proportional decrease in the number of shares of the Company's common stock reserved for issuance upon exercise or vesting of such stock options, restricted stock awards and warrants, and, in the case of stock options and warrants, a proportional increase in the exercise price of all such stock options and warrants. In addition, the number of shares reserved for issuance under the Company's equity compensation plan immediately prior to the reverse stock split will be reduced proportionately.
About Moleculin Biotech, Inc.
Moleculin Biotech, Inc. is a clinical stage pharmaceutical company focused on the development of a broad portfolio of oncology drug candidates for the treatment of highly resistant tumors and viruses. The Company's clinical stage drugs are: Annamycin, a Next Generation Anthracycline, designed to avoid multidrug resistance mechanisms with little to no cardiotoxicity being studied for the treatment of relapsed or refractory acute myeloid leukemia, more commonly referred to as AML, WP1066, an Immune/Transcription Modulator capable of inhibiting p-STAT3 and other oncogenic transcription factors while also stimulating a natural immune response, targeting brain tumors, pancreatic cancer and hematologic malignancies, and WP1220, an analog to WP1066, for the topical treatment of cutaneous T-cell lymphoma. Moleculin is also engaged in preclinical development of additional drug candidates, including other Immune/Transcription Modulators, as well as WP1122 and related compounds capable of Metabolism/Glycosylation Inhibition.
For more information about the Company, please visit http://www.moleculin.com.
Forward-Looking Statements
Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, the timing of the completion of the reverse stock split. Although Moleculin believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Moleculin Biotech has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under Item 1A. "Risk Factors" in our most recently filed Form 10-K filed with the Securities and Exchange Commission ("SEC") and updated from time to time in our Form 10-Q filings and in our other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. We undertake no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.
Contacts
James Salierno / Carol Ruth
The Ruth Group
973-255-8361 / 917-859-0214
jsalierno@theruthgroup.com
cruth@theruthgroup.com
Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/moleculin-announces-reverse-stock-split-301218101.html
SOURCE Moleculin Biotech, Inc.
Copyright 2021 PR Newswire
Roth Capital analyst Jonathan Aschoff maintained a Buy rating on Moleculin Biotech (MBRX) on December 17 and set a price target of $5.00. The company’s shares closed last Thursday at $1.07.
There used to be lots of people until it became full of scandals
Can’t believe there is nobody on this message board for this ticker. Crazy
News coming soon...? I love this stock!
Here we go this is the start of the joy ride to heaven
Remember it’s a 3 day weekend upon us....and it’s sell off Friday
So buy some cheapies
News could break after hours or on Monday
I hate when this trades under a dollar and bid and asks move on the 1000’s of a penny.
Get back to a dollar already! Geez
I look forward to news from Moleculin and WPD Pharmaceuticals: Their drug WP1122 could kill Covid19? That would be great!
The smaller of the 5 will be the biggest rocket launch ??
Strong new out today. Top 5 emerging companies in Cancer Research.
https://www.prnewswire.com/news-releases/advanced-testing-options-help-alter-the-fight-against-cancer-301189192.html
* * $MBRX Video Chart 12-01-2020 * *
Link to Video - click here to watch the technical chart video
Like clockwork, watch the company announce a dilutive equity financing after the market closed today. They do this every time they issue a good press release
Some sad shit! Was thinking today was the day
Like I said, huge dumping... LOL. Nice shirt from 1.40...
no,MM took stops out now they run $2++++ mhop
They are dumping huge here...
News Out,,FDA approvals 3 $$$$$$
Just In: $MBRX Moleculin Biotech, Inc. Reports Financial Results for the Quarter Ended September 30, 2020
Moleculin Biotech, Inc. Reports Financial Results for the Quarter Ended September 30, 2020 PR Newswire HOUSTON, Nov. 13, 2020 HOUSTON , Nov. 13, 2020 /PRNewswire/ -- Moleculin Biotech, Inc., (Nasdaq: MBRX) (Moleculin or the Company), a clinical stage pha...
Find out more MBRX - Moleculin Biotech, Inc. Reports Financial Results for the Quarter Ended September 30, 2020
The real problem here is that everything they claim might be true, but nothing will hit the actual markets to generate revenue for at least 4 to 5 years and that will be the ones in Trials currently.
So, no reasons to buy this and get left holding a bag here. The race between a reverse split and an FDA approved product from Moleculin will easily be won by the reverse split.
Jmho
Bill
"The question now is; Which will come first?"
I'm going with the chicken.!!
The question now is; Which will come first? A pop or a RS? Its' in the $.70 cent range now so it's tempting to buy.
Reverse Split and raising A/S
might as well be a penny stock
Amended Current Report Filing (8-k/a)
Source: Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
(Amendment No. 1)
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): June 11, 2020
MOLECULIN-LOGO_HORIZA55.JPG
MOLECULIN BIOTECH, INC.
(Exact Name of Registrant as Specified in its Charter)
DELAWARE
001-37758
47-4671997
(State or Other Jurisdiction of Incorporation or Organization)
(Commission File No.)
(I.R.S. Employer Identification No.)
5300 Memorial Drive, Suite 950, Houston,TX 77007
(Address of principal executive offices and zip code)
(713) 300-5160
(Registrant’s telephone number, including area code)
(Former name or former address, if changed from last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-14(c)).
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company [X]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [X] Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol (s)
Name of each exchange on which registered
Common Stock, par value $.001 per share
MBRX
The NASDAQ Stock Market LLC
EXPLANATORY NOTE
This Current Report on Form 8-K/A is being filed as an amendment to the Current Report on Form 8-K filed by Moleculin Biotech, Inc. (the "Company") on June 17, 2020 (the "Original 8-K"). The Original 8-K was filed, among other things, to report the results of the matters submitted to a vote by the Company’s stockholders at the Company’s 2020 annual meeting of stockholders held on June 15, 2020 pursuant to Item 5.07. The reported results were derived from a report received from the Company’s independent proxy tabulation firm and confirmed by an independent inspector of elections. Following the filing, the Company realized that the proxy tabulation firm’s report treated Proposal #4, regarding the approval of an increase the number of common stock authorized for issuance under the Company’s 2015 stock plan, as a routine proposal on which brokers would be permitted to use their discretionary authority to vote shares held as record owner. As such, the Company’s proxy tabulation firm did not report any broker non-votes on Proposal #4. After further review, the proxy tabulation firm confirmed that the foregoing treatment of Proposal #4 was an error and the proposal should have been treated as a non-routine matter. Subsequent to this determination, the Company received a corrected report from the Company’s proxy tabulation firm. The corrected number of votes cast for and against as well as the number of abstentions and broker non-votes as to all proposals are set forth below. The Company notes that the re-tabulation of the results after the meeting resulted in an immaterial change in the share calculations previously disclosed under the columns "Votes Withheld" and "Broker Non-Votes" for Proposal #1 (there was no change to the number of "Votes For"). The re-tabulation did not change the passage of any proposals, and all proposals were approved.
Item 5.07 Submission of Matters to a Vote of Security Holders.
On June 15, 2020, the Company held its 2020 Annual Meeting of Stockholders (the "Annual Meeting"). As of March 23, 2020, the record date for the Annual Meeting, there were 53,227,700 shares of common stock issued and outstanding and entitled to vote on the proposals presented at the Annual Meeting, of which 41,131,579 shares, or 77.27%, were present in person or represented by proxy, which constituted a quorum. The holders of shares of our common stock are entitled to one vote for each share held. Set forth below are the final voting results for each of the proposals submitted to a vote of the Company's stockholders at the Annual Meeting.
Proposal 1. Election of Directors - The Company's stockholders elected Walter V. Klemp, Robert George, Michael Cannon and John Climaco to serve until the 2021 Annual Meeting of Stockholders of the Company, or until such person's successor is qualified and elected.
Director Name
Votes For
Votes Withheld
Broker Non-Votes
Walter V. Klemp
16,390,215
2,036,729
22,704,635
Robert George
15,472,188
2,954,756
22,704,635
Michael Cannon
15,941,344
2,485,600
22,704,635
John Climaco
15,973,315
2,453,629
22,704,635
Proposal 2. Ratify Grant Thornton LLP as Independent Registered Public Accountant - The Company's stockholders ratified the appointment of Grant Thornton, LLP as the Company's independent registered public accounting firm for the year ending December 31, 2020, by the following vote:
2
Votes For
Votes Against
Abstain
39,454,292
1,180,065
497,222
Proposal 3. To Effect a Reverse Stock Split of the Outstanding Shares - - The Company’s stockholders authorized the Board of Directors, in its sole discretion, prior to the one-year anniversary of the Annual Meeting, to file an amendment to the Company’s Amended and Restated Certificate of Incorporation to effect a reverse stock split at one of the following reverse stock split ratios, 1-for-2, 1-for-3, 1-for-4, 1-for-5, 1-for-6, 1-for-7, or 1-for-8. As of the date hereof, the Company's Board of Directors has not made any determination on the filing of such amendment. The voting on this proposal is set forth below:
Votes For
Votes Against
Abstain
26,983,694
13,582,402
565,483
Proposal 4. To Increase the Number of Common Stock Authorized for Issuance under the 2015 Plan - The Company’s stockholders approved an increase in the number of shares of common stock authorized for issuance under the 2015 Plan by 6,000,000 shares.
The voting on this proposal is set forth below:
Votes For
Votes Against
Abstain
Broker Non-Votes
14,496,928
3,791,840
138,176
22,704,635
Proposal 5. To authorize an Adjournment of the Annual Meeting - To authorize an adjournment of the Annual Meeting, if necessary, to solicit additional proxies if there are not sufficient votes at the time of the Annual Meeting or adjournment or postponement thereof to approve of the foregoing proposals.
Votes For
Votes Against
Abstain
31,734,118
8,579,342
818,119
Adjournment of the Annual Meeting was necessary due to public health concerns.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MOLECULIN BIOTECH, INC.
Date: August 4, 2020
By: /s/ Jonathan P. Foster
Jonathan P. Foster
Chief Financial Officer
3
bahahaha you have no clue MBRX I bought a lot of shares here $4 Target price easy peasy lemon squeezy woohoooooo
MBRX the next big winner here woohoooooooo $4 TARGET price WOOHOOOOOOOOOOOOOOO
Yes, and the stock closed down. I gave up on the stock.
Article posted on Sterling Pharma Solutions website: https://www.sterlingpharmasolutions.com/sterling-signs-deal-to-produce-potential-covid-19-drug-candidate-for-moleculin/#content-start
Listen to the PHD-discussion from MBRX, announcing Moleculin's-discovery of WP1122 effectiveness for Covid-19, from April 16, 2020 resulting in
100% suppression of the Sars-Cov-2.....Potentially, this molecule would be part of a cure for the coronavirus, not a vaccine for it.
https://edge.media-server.com/mmc/p/xihchttv
In my opinion, the academic discussion on this level, will go over the heads of 99.5 % of the folks here: but fortunately, here is a simpler analysis for us:
https://finance.yahoo.com/news/moleculin-biotech-mbrx-stock-outpacing-153003277.html
This post is only my own opinion, and I would invite you folks to please do your own Due Diligence.
I agree. This company can’t possibly compete in this space. There will likely be multiple vaccines before this company is done testing in Petri dishes.
Yeah. Easy money for the directors. For shareholders not so much.
They just gave Phizer 2 billion dollars big Pharma is hoping to kill all research except their own.There is far too much lobbying and corruption in this industry health care results are not always the motivator for the evil drug empire.I am holding a good load of MBRX they and other promising companies need a kick start with a few million I doubt Phizer and the big boys need government handouts.
Haha. I was thinking the same thing when I saw that.
And Clay showed up time to sell if you haven’t already ! When Clay post his bs the stock always drops ! Get ready for a clay attack!
* * $MBRX Video Chart 07-21-2020 * *
Link to Video - click here to watch the technical chart video
if they didn't have proof.that would be fraudulent.
i not kidding about data. they should have it.
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