HC Wainwright & Co. reiterated its Buy rating for Moleculin Biotech. The firm lowered its price target from $22.00 to $3.00. This adjustment represents an 86.36% reduction in valuation.
Moleculin continues its pivotal MIRACLE trial for Annamycin to treat relapsed/refractory Acute Myeloid Leukemia. The company expects an unblinded efficacy readout between December 2026 and February 2027.
The price target reduction reflects clinical development challenges and weak financial performance. Moleculin faces significant financial hurdles, low profitability, and weak growth metrics as a micro-cap biotech. The maintained Buy rating suggests potential upside despite the conservative valuation.