Moleculin Biotech Stock Is Trading Higher After WP1066 Scores Rare Pediatric Disease Tag For Type Of Brain Tumor

Vandana Singh
·1 min read

  • The FDA has granted Rare Pediatric Disease Designation to Moleculin Biotech Inc's (NASDAQ: MBRX) WP1066 to treat ependymoma.

  • Ependymoma is a rare type of tumor in the brain or spinal cord and most often occurs in young children.

  • The drug candidate currently received Orphan Drug Designation for WP1066 to treat brain tumors and Rare Pediatric tags for three other pediatric indications.

  • Rare Pediatric Disease designation provides for the issuance of a priority review voucher following FDA approval. The voucher can be used for accelerated approval of a future application or sold to a third party.

  • WP1066 is an immune/transcription modulator capable of directly inhibiting certain key oncogenic transcription factors, including the activated form of a protein known as STAT3.

  • The activated form of STAT3, referred to as p-STAT3, is considered a master regulator of tumor activity.

  • Price Action: MBRX shares are trading 6.96% higher at $3.87 on the last check Wednesday.

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