On February 10, 2021 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 and viruses, reported that the underwriters of its public offering announced February 3, 2021 have exercised in full their option to purchase an additional 2,141,052 shares of common stock at the public offering price of $4.75 per share, less underwriting discount (Press release, Moleculin, FEB 10, 2021, View Source [SID1234574848]). Combining last week’s closing with the effect of the sale of shares pursuant to the over-allotment option, which was completed today, Moleculin sold a total of 16,414,736 shares of common stock in the public offering for gross proceeds of approximately $78.0 million, before deducting underwriting discount and offering expenses.

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Moleculin Biotech, Inc. is a clinical stage pharmaceutical company focused on the development of a broad portfolio of oncology drug candidates for the treatment of highly resistant tumors. (PRNewsfoto/Moleculin Biotech, Inc.)

Oppenheimer & Co. Inc. acted as the sole book-running manager for the offering and Roth Capital Partners, LLC acted as the co-manager for the offering. Maxim Group LLC acted as financial advisor to the Company.

The securities described above were offered by the Company pursuant to a shelf registration statement on Form S-3 (No. 333-235686) originally filed December 23, 2019 with the Securities and Exchange Commission (SEC) and declared effective by the SEC on April 9, 2020. A final prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering was filed with the SEC and is available on the SEC’s website at View Source Copies of the final prospectus supplement and the accompanying prospectus may be obtained from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, New York 10004, by telephone at (212) 667-8055, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.