Sara Nik, an analyst from H.C. Wainwright, reiterated the Buy rating on Moleculin Biotech. The associated price target remains the same with $4.00.
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Sara Nik’s rating is based on promising clinical data and future potential of Moleculin Biotech’s annamycin in treating acute myeloid leukemia (AML). The completion of the Phase 1B/2 study showed impressive overall survival rates, with the median overall survival for complete remission patients reaching 15 months, significantly higher than current benchmarks for relapsed refractory AML patients. The study also highlighted a 50% complete remission rate in the second-line setting, with no observed cardiotoxicity, enhancing annamycin’s profile as a potential treatment.
Sara Nik also considered the ongoing Phase 3 MIRACLE study, which is on track to deliver initial data by the end of 2025. This pivotal study aims to evaluate the efficacy of annamycin in combination with high-dose cytarabine in relapsed/refractory AML patients. The adaptive design of the study allows for early unblinding of efficacy and safety data, which could expedite the New Drug Application process if results are positive. These factors contribute to the optimistic outlook for Moleculin Biotech, justifying the Buy rating.
In another report released on August 13, Maxim Group also maintained a Buy rating on the stock with a $4.00 price target.