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Why Is Biotech Penny Stock, Moleculin Biotech Gapping Up On April 17?

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Traditionally, biotechnology stocks and healthcare stocks respond in a very volatile fashion to market news. Most importantly, when said penny stock news is positive, these stocks scramble to highs equating to high double digit and even triple digit percentage points. This is the case today with one biotech penny stock.

Moleculin Biotech (MBRX) Stock Is Up Over 26% Before The Opening Bell

So why is Moleculin Biotech (MBRX Chart) stock up so much before the opening bell? The biotech penny stock announced that the ongoing research it has undertaken at The University of Texas MD Anderson Cancer Center has shown that Annamycin is capable of improving survival rates in animal models.  These particular survival rates are in animals with an aggressive form of triple negative breast cancer metastasized to the lungs. Annamycin is the company’s clinical stage drug.

“We believe our success in increasing the survival rate in mice with this tumor model in combination with the previously observed high uptake of Annamycin by the lungs is a promising indication that supports additional clinical research in lung and metastatic lung cancers.”

Chief Executive Walter Klemp

What Comes Next For This Biotech Penny Stock?

Moleculin hasn’t had the best stock price performance over the last few months.  The stock saw a brief climb from the beginning of the year through the start of February. Following this, however, was a long period of sell-off. A recent gap down after the company announced a stock offering on March 27; that’s when MBRX dropped below $1 for the first time.

Today marks the first time the company has seen trading levels above $1.12 since late March.  Will this spark a new bull trend for the biotech stock? Drop a comment below and let us know your thoughts.

By J. Samuel

As a trader and expert finance writer, I enjoy finding new and emerging trends that may have been overlooked by the average masses. If there's one thing that a trader or investor wants to know, it's how to use valuable data to their advantage. My expertise is in uncovering this data and compiling it into actionable information. As a professional finance writer, I've contributed to many of the top finance platforms and pride myself on researching factual, publicly available information and using that in all of my articles.

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