Roth Capital analyst Jonathan Aschoff lowered the firm’s price target on Moleculin Biotech (MBRX) to $13 from $20 and keeps a Buy rating on the shares following the recent capital raise. The firm cites financial model adjustments for the target cut. Roth believes Moleculin’s warrant exercise should be able to fund operations to the end of 2025, given the MIRACLE trial unblinded initial interim data announcement from 45 patients that it expects in the second half of 2025.
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