Shares of Moleculin Biotech Inc (NASDAQ:MBRX) ended Wednesday session in red amid volatile trading. The shares closed down -0.01 points or -0.35% at $2.82 with 14,164 shares getting traded. Post opening the session at $2.86, the shares hit an intraday low of $2.82 and an intraday high of $2.95 and the price vacillated in this range throughout the day.
Market Cap/Outstanding Shares
The company has a market cap of $32.62 million and the number of outstanding shares have been calculated to be 12.05 million shares.
Performance weekly/monthly/quarterly/yearly in percentage (%)
The performance for the week is valued at 7.39%, resulting in a performance for the month at -5.37%. Therefore, the stated figure displays a quarterly performance of -53.47% traded down -0.35% on 23 November, 2016 hitting $2.82.
Avg. true range is 0.37. Historically, the volatility of this stock is about 9.46% a week and 10.17% a month.
Moleculin Biotech Inc (MBRX) recently declared it has received verbal positive guidance from the FDA regarding its planned IND submission indicating that the Company may incorporate by reference the IND established by a prior developer.
Moleculin’s Chairman and CEO, Walter Klemp, commented, “This new positive guidance removes a major question mark and allows us to create a tighter timeline for the estimated starting of our next clinical trial. To be clear, we still can’t rule out the possibility of a delay in the timeline, but with the knowledge that the FDA is encouraging us to simply incorporate by reference the prior developer’s IND, we believe we can accelerate our IND submission process. On our current path, we expect to be able to file our IND submission before year end. Barring a negative surprise from the FDA’s review of our submission, that should allow us to begin treating patients in our next clinical trial several months sooner than expected.”
The Company has indicated in previous disclosures that it expected to begin its next clinical trial by the first half of 2017, however this development may reduce that time frame by several months. The Company has presented a pre-IND briefing document to the FDA together with key questions regarding its clinical development plan and a request for a meeting, if the FDA deems it necessary. The FDA recently indicated in writing that it intends to provide written responses to the Company by December 6, 2016 and that it does not believe a live meeting is necessary. Once those written responses are received, the Company will adjust its final IND submission document accordingly and submit for final FDA review. IND submissions are normally reviewed within 30 days of filing.