Houston biotech firm raises millions; pharma co. enacts reverse stock split

Two publicly traded, clinical-stage pharmaceutical companies in Houston worked to better their financial runways Feb. 6 — one through a share purchase agreement, the other through a reverse stock split.

Houston-based Moleculin Biotech Inc. (Nasdaq: MBRX), a clinical-stage pharmaceutical company targeting highly resistant tumors, announced a registered direct offering with institutional investors in a Feb. 6 news release. Proceeds from the offering are expected to total $6 million, before…