Moleculin prices $9.3M offering of stock and warrants at $0.75/share

Moleculin Biotech, Inc. filed a Form 424B5 prospectus dated July 31, 2026 for a public offering conducted on a reasonable best efforts basis. Under the terms, the company is offering up to 11,088,334 shares of common stock together with up to 37,130,001 Series I common warrants, at a combined public offering price of $0.75 per share and common warrants.¹ The offering also includes 1,288,333 pre-funded warrants for purchasers whose share purchases would otherwise push their beneficial ownership above 4.99% (or, at the purchaser's election, 9.99%) of outstanding common stock.¹

According to the pricing table, the total public offering amount is $9,281,211.92, with placement agent fees of $603,278.77 and proceeds to the company before expenses of $8,677,933.15.¹ Roth Capital Partners, LLC is acting as placement agent and the company has agreed to pay the placement agent fees set forth in the offering table.¹

As of the prospectus date, the deal was priced but not yet closed. The prospectus states that delivery of the shares of common stock and any pre-funded warrants and common warrants to purchasers is expected to be made on or about August 3, 2026, subject to satisfaction of certain customary closing conditions.¹ The offering itself remains open through mid-August, since it will terminate no later than August 14, 2026, unless the company decides to terminate it earlier.¹ The prospectus also notes there is no minimum number of shares or minimum aggregate proceeds required as a condition for the offering to close,¹ meaning final proceeds could be lower than the maximum amounts stated.

Moleculin said it intends to use the net proceeds to advance Annamycin through clinical development and for working capital.¹