Jason McCarthy, an analyst from Maxim Group, maintained the Buy rating on Moleculin Biotech. The associated price target remains the same with $4.00.
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Jason McCarthy has given his Buy rating due to a combination of factors surrounding Moleculin Biotech’s promising developments with Annamycin. The company has announced a new Phase 1b/2 trial to evaluate Annamycin in third-line advanced pancreatic cancer, leveraging its strong preclinical data that shows significant drug accumulation in pancreatic tumors and liver metastases. This trial is particularly noteworthy because Annamycin’s non-cardiotoxic profile could make it the first anthracycline suitable for chronic use in pancreatic cancer, presenting a unique market opportunity.
Additionally, Moleculin’s ongoing Phase 3 MIRACLE trial in relapsed/refractory acute myeloid leukemia (AML) is progressing, with an interim data readout expected soon. This event is anticipated to unlock value for Moleculin’s stock if the results are positive, further supporting McCarthy’s optimistic outlook. The combination of these clinical advancements and the potential for Annamycin to expand its oncology applications underpins the Buy rating.
According to TipRanks, McCarthy is an analyst with an average return of -13.3% and a 35.61% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as OS Therapies Incorporated, SCYNEXIS, and Atossa Therapeutics.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $4.00 price target.