Moleculin Biotech Inc. (MBRX) stock prices were down by 3.63% as of the market closing on September 28th, 2021. This brought the price per share down to USD$2.92 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 1.71%, bringing it up to USD$2.97.
MBRX Stock’s Presentations
The second half of September 2021 saw MBRX stock spearhead its exposure through a series of presentations. The company hosted a presentation at the 2021 Cantor Virtual Global Healthcare Conference on September 27th, 2021. A presentation at the virtual Oppenheimer Fall Healthcare Life Sciences and MedTech Summit was announced on September 17th, 2021. The clinical-stage pharmaceutical company also announced a presentation to be made at the virtual H.C Wainwright 23rd Annual Global Investment on September 13-15th 2021.
MBRX stock reported research and development costs in the amount of USD$3 million for Q2 2021. This is compared to the USD$3.3 million reported for the second quarter of fiscal 2020. The year-over-year decrease of USD$0.3 million was largely driven by the timing of costs incurred in the fiscal 2020 year. These costs were associated with the production of additional drug products for Annamycin clinical trials.
G&A Cost Breakdown
General and administrative costs came in at USD$2.4 million for the second quarter of fiscal 2021. This is comparable to the USD$1.7 million reported for the prior-year quarter. The year-over-year increase of USD$0.7 million was primarily attributable to an increase in consulting and advisory fees. Further consolidating the yearly difference was an increase in MBRX stock’s corporate insurance.
MBRX Stock’s Financial Position
The first half of fiscal 2021 saw the company incur net losses in the amount of USD$8.7 million. This is an improvement from the net loss reported for the first half of fiscal 2020. Net cash flows used in operating activities were USD$10.4 million for the first half of 2021, while H1 2020 reported USD$9.3 million. MBRX stock reported USD$79.5 million at the end of the second quarter of fiscal 2021. The company is confident in the cash reserves being enough to cover its projected operating requirements through to fiscal 2024.
Future Outlook for MBRX Stock
The company reported a promising quarter, as evidenced by the strength of its financial reports for the second quarter of fiscal 2021. MBRX stock is poised to capitalize on the opportunities presented to it as a result of its recent exposure. Current and potential investors are hopeful that management will be able to leverage the resources at its disposal. This is hoped to usher in organic unprecedented growth over the long term.