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HOUSTON, May 4, 2020 -- Moleculin Biotech, Inc., (Nasdaq: MBRX) ("Moleculin" or the "Company"), a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting highly resistant tumors, today announced securities of the Company have been placed in a temporary trading halt following notification by the US Securities and Exchange Commission.
On May 1st, 2020, the Securities and Exchange Commission (SEC) temporary suspended, pursuant to Section 12(k) of the Securities Exchange Act of 1934, trading in the securities of Moleculin Biotech, Inc. (MBRX) at 9:30 a.m. ET on May 4th, 2020 due to the Commission's questions regarding the accuracy of recent information distributed by the Company. Those questions relate to, among other things, statements made by Moleculin and others, in its Form 10-K filed with the SEC on March 19th, in press releases on March 20th and April 8th, and in other statements on March 19th, March 20th, and April 16th concerning the Company's business, including the status of development of WP1122 for potential application to COVID-19, and the Company's ability to expedite regulatory approval of any such treatment.
The suspension will terminate at 11:59 p.m. ET on May 15th, 2020. Moleculin looks forward to responding to the SEC and working with the Commission to resolve these questions in a timely manner. The Company believes it will be able to work with the staff of the Commission to demonstrate the accuracy and adequacy of its public disclosures.
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