Read Why Is Roth Capital Bullish On This Cancer-Focused Stock

Roth Capital notes that the FDA cleared Moleculin Biotech Inc's MBRX WP1122 to start a Phase 1 trial in glioblastoma multiforme, which will be in addition to the drug's impending parallel clinical development in COVID-19.
Analyst Jonathan Aschoff expects several clinical data updates over the next year, with Moleculin Biotech potentially having six ongoing trials by year-end 2021.
Moleculin Biotech is "substantially undervalued," Aschoff contends with a lower market value than the cash valuation.
The analyst believes that the risk/reward is "highly favorable" given the numerous near-term clinical readouts.
Aschoff has a Buy rating and a price target of $29 on the shares.
Earlier today, FDA signed off Moleculin Biotech's Investigational New Drug (IND) application to study WP1122 for Glioblastoma Multiforme (GBM), the most aggressive malignant primary brain tumor.
Moleculin plans to initiate a Phase 1 open-label, single-arm, dose-escalation study of the safety, pharmacokinetics, and efficacy of oral WP1122.
Price Action: MBRX shares are down 0.48% at $2.06 during the market session on the last check Wednesday.