10:14 AM EDT, 06/20/2025 (MT Newswires) -- Moleculin Biotech ( MBRX ) said Friday that it priced a $5.9 million offering of shares and series E warrants to purchase common stock.

The offering includes 16.1 million shares and series E warrants to buy up to 48.2 million shares at a combined price of $0.37 per common stock and accompanying series E warrants, according to the company.

The series E warrants have an exercise price of $0.37 and expire five years after the initial exercise date, Moleculin added.

The company said it expects to close the offering on or about June 23 and the net proceeds will be used to advance the development of Annamycin and two other drug portfolios, the existing portfolio, sponsoring research and working capital.

Shares of the company fell 48% in recent trading.

Price: 0.31, Change: -0.28, Percent Change: -47.51