Moleculin Biotech Inc, (NASDAQ: MBRX), a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting highly resistant tumours, reported on Friday its financial results for the second quarter ended 30 June 2019.

The company reported research and development expense at USD2.1m in the second quarter ended 30 June 2019 compared to USD4.2m in the year-ago period.

The firm posted a net loss of USD1.221.000 or USD0.03 per common share in the second quarter of 2019 as compared to a net loss of USD5,125,000 or a loss of USD0.20 per common share for the same period in 2018.

Commenting on developments made by the company in the second quarter, Moleculin chairman and chief executive officer, Walter Klemp, said, 'The second quarter of 2019 exhibited significant progress in the various research initiatives and clinical trials that are underway on our drug candidates. During the quarter, we announced three important research developments that we believe can have meaningful impacts in successfully attacking certain rare and difficult cancers.'