Analyst Jason McCarthy of Maxim Group maintained a Buy rating on Moleculin Biotech, retaining the price target of $10.00.
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Jason McCarthy has given his Buy rating due to a combination of factors tied mainly to the advancing MIRACLE trial for annamycin in second-line relapsed/refractory AML and the strength of the early efficacy signals. Blinded interim results in the first 45 patients show composite and complete remission rates meaningfully higher than historical outcomes for high-dose cytarabine alone after multiple treatment cycles, hinting at a substantial treatment effect from annamycin.
McCarthy believes that these data not only align with prior clinical experience showing annamycin’s ability to induce rapid remissions without cardiotoxicity, but also partially reduce the development risk ahead of the upcoming unblinded interim analysis. He views a positive readout as a major potential value catalyst for MBRX and sees the ongoing, well-structured Phase 2B/3 program as a solid foundation to support future growth, justifying a maintained $10 price target and a Buy recommendation.