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TickerMBRX
SectorBiotechnology
Mkt cap$3M
EV / EBITDA0.2×
PostureHigh Velocity
Composite70/100
LensBuyer-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 1659617

Moleculin Biotech, Inc.

MBRXHIGH VELOCITYFILING INTENSITY

Moleculin Biotech, Inc. reads as an High Velocity (composite 70/100); Selective Buyer deploying $0 across 0 disclosed transactions, running flat vs the prior cycle · primary market Healthcare.

Lens

Disclosed M&A capital (2023–2025)

N/A

flat

vs N/A in 2020–2022

Disclosed transactions

N/A

flat

0/3 active fiscal years in window

Buyer archetype

Selective Buyer

Acquisition use is visible but targeted.

Composite score

70

/100

High Velocity dominates · Filing Intensity

Financial snapshot
RevenueN/A
EBITDAN/A
Enterprise valueN/A
EV / RevenueN/A
EV / EBITDA0.2×
P/EN/A
Cash$9M
Total debtN/A
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

26/100

Companies actively deploying disclosed capital into M&A

  • $100M disclosed buyer spend

Buyer Cadence

30/100

Buyer-side companies with recent filing activity

  • Filed within 32d
  • 379 8-Ks

Target Probability

4/100

Issuers showing target-side patterns from filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

Pressure Watch

14/100

Issuers facing activism, governance, or control pressure

Distress Watch

26/100

Issuers showing financial-distress filing patterns

  • 10-Q 208d stale

Restatement Risk

0/100

Issuers with accounting-integrity flags from filings

Capital Velocity

Dominant
70/100

Issuers with the highest filing-activity intensity

  • 379 8-Ks
  • 4 form types

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Market cap $3M
  • 10-Q 208d ago
  • Quiet signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $100M · Peak count: 1

FYDisclosed buysDisclosed spendAvg ticketAudited tier
2025N/AN/AN/AN/A
2024N/AN/AN/AN/A
2023N/AN/AN/AN/A
2022N/AN/AN/AN/A
2021N/AN/AN/AN/A
2020N/AN/AN/AN/A
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

Shown in its clinical trials to be non-cardiotoxic (N=84) with some patients being safely dosed at five times the typical lifetime maximum allowed anthracycline dose, which potentially enables repeated dosing and consolidation;

10-KFY2024

During 2023, we started our MB-106 clinical trial with Annamycin in combination with Cytarabine (AnnAraC) for the treatment of AML in an all-comers trial, accepting subjects with a wide range of prior therapies in the Phase 1 portion with a limit of two prior therapies in the Phase 2 portion. The total recruited to date is 20 where one subject just began treatment and another subject has not been evaluated for efficacy. To date we have a composite complete response (CRc) rate of 39% in all subjects (n= 18). This is comprised of a CR rate of 33% and CRi of 6%. The 19th subject, being treated as a 3rd line therapy, had two BMAs tested where they have been inconclusive, and we are awaiting further testing. This subject will move the CRc to either 42% or 37% (n=19). Durability data are developing with one CR and one CRi having relapsed to date. Durability of CRs is confirmed by repeat BMAs. The first CR subject was treated in February 2023 and remains durable to date. The median age of all subjects recruited is 69, ranging from 19 to 78. This trial may enroll up to 28 subjects, although recruitment for subjects as 2nd line therapy ended in January 2024. The trial continues recruitment for treatment as 1st line and 3rd line therapy. Since we intend to position AnnAraC for approval as a 2nd line therapy, we believe that the most important data from this trial are the results in 2nd line subjects (excluding subjects who are either 1st line or 3rd line and beyond). When stratified for that population (n=10), the CRc rate is 60%, being comprised of a CR rate of 50% and a CRi of 10%.

10-KFY2023

The following advantages over early-generation anthracyclines which in their totality support Annamycin’s classification as a “next-generation” anthracycline: 1) demonstrated across five clinical trials to be non-cardiotoxic (n=90) with some patients being safely dosed at five times the typical lifetime maximum allowable anthracycline dose, (which potentially enables repeated dosing, consolidation and even use as a maintenance therapy); 2) exhibits no vesicant activity as well as greater tolerability, making it safer to handle and administer and easier on patients; 3) shown in preclinical models to circumvent multidrug resistance by avoiding MDR1 mechanisms and also to avoid cross-resistance with some of the most commonly used drugs for the treatment of AML (as well as many other cancers), including currently approved early-generation anthracyclines, cytarabine and venetoclax and, 4) exhibited in preclinical models substantially improved tissue/organ distribution;

10-KFY2025

Durability data are developing with one CR having relapsed to date with 4.5 months of durability. The first CR subject was treated in February 2023 and remains durable to date. Durability of CRc's is confirmed by repeat bone marrow aspirates (BMAs). The median age of all subjects recruited is 69, ranging from 19 to 78. This trial may enroll up to 28 subjects with recruitment for subjects as 2nd line therapy having ended in January 2024. The trial continues recruitment for treatment as 1st line and 3rd line therapy.

10-KFY2023
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Healthcare

Market spend (2023–2025)
$195B
Market spend (2020–2022)
$253.6B
Recent vs prior
−23%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

0.2×EV / EBITDA

MBRX trades at a -12.7-turn discount to the Healthcare peer median of 12.9×.

EV / Revenue
N/A
Net debt / EBITDA
N/A
Peer median EV / EBITDA
12.9×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
23.4×6.7×3.1×$62.8B$18B
17.2×0.9×1.9×$449.7B$28.1B
12.9×6.0×2.6×$37.2B$26.7B
11.7×0.5×2.5×$200.4B$6.4B
9.3×1.9×2.8×$76.4B$1.3B
Moleculin Biotech, Inc.MBRX
0.2×N/AN/AN/AN/A

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Healthcare. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Target landscape.

Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.

No qualifying public-issuer targets surfaced from the current signal mix.

Stated target categories

No target categories enumerated in the audited corpus for this issuer.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)142026-04-14
  • 10-Q (quarterly)312025-11-13
  • 8-K (event)3792026-05-08
  • Proxy / DEF 14A252026-03-09
  • Activism (13D / DFAN / PREC)0N/A

Signals on file

Clean signal stream: no restatement, NT, spin / carve, or activism filings on file.

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.