--- title: "Moleculin Biotech gets Nasdaq delisting determination" url: "https://aibio.space/news/moleculin-biotech-gets-nasdaq-delisting-determination-plans-hearing/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-11-21" section: "Listings" tickers: "NASDAQ:MBRX" source: "https://www.sec.gov/Archives/edgar/data/1659617/000143774925036006/mbrx20251121_8k.htm" summary: "Nasdaq staff issued a delisting determination against Moleculin Biotech's common stock for failing the $2.5 million stockholders' equity rule. The company" --- By the aibio.space news desk. Sources - [Moleculin Biotech, Inc. Form 8-K filed November 21, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1659617/000143774925036006/mbrx20251121_8k.htm) - [Moleculin Biotech, Inc. Form 10-K filed March 21, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1659617/000143774925008751/mbrx20241231_10k.htm) [MBRX](https://aibio.space/companies/moleculin-biotech/) 2025-11-21 # Moleculin Biotech gets Nasdaq delisting determination, plans hearing panel appeal Tickers [MBRX](https://aibio.space/companies/moleculin-biotech/) Nasdaq staff issued a delisting determination against Moleculin Biotech's common stock for failing the $2.5 million stockholders' equity rule. The company said it will ask a hearing panel to stay any suspension, and its last annual report showed $4.3 million of cash and a going-concern warning. ## Key facts - **Company**: Moleculin Biotech, Inc. (NASDAQ: MBRX) - **News type**: Listings - **Primary source**: [Moleculin Biotech, Inc. Form 8-K filed November 21, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1659617/000143774925036006/mbrx20251121_8k.htm) *A stone federal courthouse. Photo: Carol M Highsmith, CC0, via rawpixel. The picture shows the field, not the companies named.* Moleculin Biotech, Inc. (Nasdaq: [MBRX](https://aibio.space/companies/moleculin-biotech/)) said on November 21, 2025 that Nasdaq staff have issued a delisting determination against its common stock. The company reported the determination in a [Form 8-K](https://www.sec.gov/Archives/edgar/data/1659617/000143774925036006/mbrx20251121_8k.htm) under Item 3.01. It said it intends to appeal to a Nasdaq hearing panel under the Nasdaq Listing Rule 5800 Series, and that the appeal is meant to stay any suspension while the panel decides. ## How the deficiency began On May 23, 2025, Moleculin received a letter from the staff of Nasdaq's Listing Qualifications Department. The letter said the company did not comply with Nasdaq Listing Rule 5550(b)(1), which requires at least $2.5 million in stockholders' equity. It also said Moleculin did not meet the alternative tests in the rule, which are market value of listed securities and net income from continuing operations. Nasdaq staff then gave the company until November 19, 2025 to regain compliance. ## The delisting determination On November 20, 2025, the company received a delist determination letter from the staff, which the 8-K calls the determination. The staff found that Moleculin had not regained compliance with the rule. The staff said the company's securities would be delisted on December 2, 2025 unless the company requested a hearing before a Nasdaq hearing panel by November 28, 2025. Moleculin said it intends to appeal, and that the common stock continues to trade on The Nasdaq Capital Market under the symbol MBRX while the appeal is pending. The 8-K does not describe what the company plans to show the panel, and it does not state the company's current stockholders' equity. ## Cash and the going-concern doubt The company's annual report for 2024, filed March 21, 2025, says that as of December 31, 2024 it had cash and cash equivalents of $4.3 million and prepaid expenses and other current assets of $0.9 million. It also had $2.0 million of accounts payable and $3.3 million of accrued expenses and other current liabilities. The auditor's report in the same annual report includes a going-concern paragraph. It says the company has an accumulated deficit of $153.4 million since inception, has not generated revenue from operations, and that these conditions raise substantial doubt about its ability to continue as a going concern. The report says management expects the $4.3 million of cash, along with $9.3 million in gross cash received from financing in February 2025, not to be sufficient to fund planned operations for at least one year. The financial statements do not include any adjustments that might result from that uncertainty. ## The lead program and its timing Moleculin describes itself as a late-stage pharmaceutical development company. It is running a registration-enabling Phase 3 trial of Annamycin, which it describes as a non-cardiotoxic anthracycline, in combination with cytarabine for relapsed or refractory acute myeloid leukemia, or AML. The trial is called MIRACLE. The annual report says the trial should reach an interim unblinding of data by the end of 2025, and an additional unblinding in the first half of 2026. The report also says the company has two portfolios of technologies for hard-to-treat cancers and viruses, and that its core technologies are based substantially on discoveries made at and licensed from the University of Texas MD Anderson Cancer Center in Houston, Texas. Those timelines were stated in March 2025 and are the company's own. The 8-K does not update them. ## Who signed Chief Financial Officer Jonathan P. Foster signed the 8-K on November 21, 2025. The 8-K's cover page gives the company's principal executive offices as 5300 Memorial Drive, Suite 950, in Houston, Texas, and lists its common stock, par value $.001 per share, as traded on The NASDAQ Stock Market LLC under the symbol MBRX. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story MBRX Moleculin Biotech, Inc. NASDAQ ยท United States Open the starter desk ## More in Listings Listings ### [Propanc Biopharma faces Nasdaq delisting on bid price, plans to appeal](https://aibio.space/news/propanc-biopharma-faces-nasdaq-delisting-bid-price-plans-appeal/) Oct 29, 2026 Listings ### [Reviva asks stockholders to approve reverse split of up to 1-for-100](https://aibio.space/news/reviva-asks-stockholders-approve-reverse-split-up-1-100/) Oct 29, 2026 Listings ### [Nasdaq to delist Glucotrack shares after bid price exception ends](https://aibio.space/news/nasdaq-delist-glucotrack-shares-after-bid-price-exception-ends/) Oct 28, 2026 --- Source page: https://aibio.space/news/moleculin-biotech-gets-nasdaq-delisting-determination-plans-hearing/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Moleculin Biotech gets Nasdaq delisting determination", 2025-11-21, https://aibio.space/news/moleculin-biotech-gets-nasdaq-delisting-determination-plans-hearing/